Wingstop (NASDAQ:WING) Trading Down 2.4% – Here’s What Happened

Wingstop Inc. (NASDAQ:WING) dropped 2.4% during trading on Wednesday . The company traded as low as $382.70 and last traded at $383.50. Approximately 114,783 shares changed hands during trading, a decline of 73% from the average daily volume of 432,530 shares. The stock had previously closed at $393.05.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WING shares. Barclays increased their target price on shares of Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. BMO Capital Markets upped their price target on shares of Wingstop from $345.00 to $360.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Citigroup raised their target price on shares of Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Stifel Nicolaus increased their price target on shares of Wingstop from $420.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Raymond James upgraded shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research report on Thursday, August 1st. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $382.00.

Wingstop Stock Down 3.9 %

The business’s 50-day simple moving average is $395.62 and its 200-day simple moving average is $388.46. The stock has a market cap of $11.07 billion, a PE ratio of 122.83, a PEG ratio of 3.98 and a beta of 1.71.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The business had revenue of $155.70 million during the quarter, compared to analyst estimates of $146.04 million. During the same quarter in the prior year, the company posted $0.57 EPS. Wingstop’s quarterly revenue was up 45.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Wingstop Inc. will post 3.79 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a dividend of $0.27 per share. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, August 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.29%. Wingstop’s payout ratio is presently 33.75%.

Insider Buying and Selling

In other news, SVP Donnie Upshaw sold 3,199 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of the transaction, the senior vice president now owns 97 shares in the company, valued at $36,152.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Wingstop by 3.7% during the first quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock valued at $1,071,473,000 after buying an additional 104,780 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Wingstop by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,273,542 shares of the restaurant operator’s stock worth $833,026,000 after purchasing an additional 101,917 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Wingstop by 36.6% in the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after purchasing an additional 161,600 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Wingstop by 2.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 600,905 shares of the restaurant operator’s stock valued at $253,979,000 after purchasing an additional 16,526 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Wingstop by 284.1% during the 2nd quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock valued at $161,957,000 after purchasing an additional 283,412 shares in the last quarter.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.