Wingstop (NASDAQ:WING) Trading Up 6.1% – Here’s Why

Wingstop Inc. (NASDAQ:WING)’s stock price was up 6.1% on Friday . The company traded as high as $205.95 and last traded at $204.9390. Approximately 240,568 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 864,312 shares. The stock had previously closed at $193.11.

Wall Street Analyst Weigh In

WING has been the topic of a number of analyst reports. Guggenheim increased their price objective on Wingstop from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Truist Financial set a $374.00 target price on Wingstop and gave the stock a “buy” rating in a report on Wednesday, February 18th. Wall Street Zen cut Wingstop from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Wingstop in a research report on Monday, December 29th. Finally, Stephens restated an “overweight” rating and issued a $375.00 price objective on shares of Wingstop in a research note on Thursday, February 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Wingstop presently has an average rating of “Moderate Buy” and a consensus target price of $337.29.

Wingstop Price Performance

The firm’s 50 day moving average price is $257.02 and its 200-day moving average price is $258.09. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 2.28 and a beta of 1.82.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 EPS for the quarter, beating the consensus estimate of $0.84 by $0.16. Wingstop had a net margin of 25.01% and a negative return on equity of 16.12%. The firm had revenue of $175.69 million during the quarter, compared to analysts’ expectations of $177.74 million. During the same period in the prior year, the company earned $0.92 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts expect that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, March 6th. Wingstop’s dividend payout ratio (DPR) is presently 19.42%.

Insider Transactions at Wingstop

In related news, Director Kilandigalu Madati sold 2,700 shares of Wingstop stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total transaction of $703,971.00. Following the sale, the director directly owned 2,583 shares of the company’s stock, valued at $673,465.59. This trade represents a 51.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wesley S. Mcdonald sold 566 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $250.00, for a total value of $141,500.00. Following the completion of the transaction, the director directly owned 4,375 shares of the company’s stock, valued at approximately $1,093,750. This trade represents a 11.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wingstop

A number of hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC lifted its holdings in shares of Wingstop by 32.9% during the 4th quarter. Corient Private Wealth LLC now owns 2,220 shares of the restaurant operator’s stock worth $529,000 after acquiring an additional 549 shares during the period. Pacer Advisors Inc. grew its stake in shares of Wingstop by 59.2% in the 4th quarter. Pacer Advisors Inc. now owns 5,940 shares of the restaurant operator’s stock valued at $1,417,000 after purchasing an additional 2,210 shares during the period. Virtu Financial LLC acquired a new stake in Wingstop in the 4th quarter valued at $603,000. Mcguire Capital Advisors Inc. bought a new stake in Wingstop in the fourth quarter valued at $63,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in Wingstop by 6.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,173,613 shares of the restaurant operator’s stock worth $279,895,000 after acquiring an additional 70,224 shares in the last quarter.

About Wingstop

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.