Kornitzer Capital Management Inc. KS Cuts Holdings in Wingstop Inc. $WING

Kornitzer Capital Management Inc. KS decreased its position in shares of Wingstop Inc. (NASDAQ:WING) by 65.4% in the second quarter, HoldingsChannel reports. The firm owned 6,500 shares of the restaurant operator’s stock after selling 12,300 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Wingstop were worth $1,127,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its stake in Wingstop by 76.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after buying an additional 60 shares during the last quarter. Rakuten Securities Inc. grew its holdings in Wingstop by 197.9% during the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 95 shares in the last quarter. GW&K Investment Management LLC increased its stake in Wingstop by 75.7% in the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after acquiring an additional 81 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in Wingstop in the 2nd quarter worth approximately $46,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after acquiring an additional 119 shares in the last quarter.

Wingstop Price Performance

Shares of WING stock opened at $126.12 on Friday. The company has a market cap of $3.44 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 1.35 and a beta of 1.81. Wingstop Inc. has a 1 year low of $110.44 and a 1 year high of $345.81. The stock’s 50 day simple moving average is $146.16 and its two-hundred day simple moving average is $177.47.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $185.56 million during the quarter, compared to analysts’ expectations of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. Equities research analysts expect that Wingstop Inc. will post 4.5 EPS for the current year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Investors of record on Saturday, August 15th will be given a $0.33 dividend. This is a boost from Wingstop’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 14th. Wingstop’s dividend payout ratio is 28.50%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America lowered their target price on Wingstop from $264.00 to $234.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Royal Bank Of Canada reduced their price target on shares of Wingstop from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Mizuho decreased their price target on shares of Wingstop from $280.00 to $240.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Wingstop in a research report on Monday, August 3rd. Finally, Barclays dropped their price objective on shares of Wingstop from $330.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Wingstop currently has a consensus rating of “Moderate Buy” and an average target price of $241.81.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.