Capstone Asset Management Co. Sells 390 Shares of Wingstop Inc. (WING)
Capstone Asset Management Co. cut its position in shares of Wingstop Inc. (NASDAQ:WING) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,340 shares of the restaurant operator’s stock after selling 390 shares during the period. Capstone Asset Management Co.’s holdings in Wingstop were worth $381,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WING. Eagle Asset Management Inc. bought a new position in Wingstop during the first quarter worth about $4,907,000. Texas Permanent School Fund raised its position in Wingstop by 1.1% in the first quarter. Texas Permanent School Fund now owns 20,898 shares of the restaurant operator’s stock worth $591,000 after buying an additional 231 shares during the period. TD Asset Management Inc. raised its position in Wingstop by 37.2% in the first quarter. TD Asset Management Inc. now owns 34,300 shares of the restaurant operator’s stock worth $970,000 after buying an additional 9,300 shares during the period. LS Investment Advisors LLC raised its position in Wingstop by 291.0% in the first quarter. LS Investment Advisors LLC now owns 4,321 shares of the restaurant operator’s stock worth $122,000 after buying an additional 3,216 shares during the period. Finally, Comerica Bank raised its position in Wingstop by 4.7% in the first quarter. Comerica Bank now owns 31,495 shares of the restaurant operator’s stock worth $929,000 after buying an additional 1,401 shares during the period.
Wingstop Inc. (NASDAQ WING) traded up 1.75% during mid-day trading on Tuesday, reaching $33.71. The company’s stock had a trading volume of 271,460 shares. Wingstop Inc. has a 1-year low of $24.74 and a 1-year high of $34.16. The stock has a market capitalization of $976.81 million, a P/E ratio of 56.09 and a beta of 0.60. The stock’s 50 day moving average price is $30.67 and its 200 day moving average price is $28.98.
Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Thursday, August 3rd. The restaurant operator reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. The company had revenue of $24.70 million during the quarter, compared to analysts’ expectations of $24.61 million. Wingstop had a net margin of 19.28% and a negative return on equity of 28.04%. During the same period in the prior year, the company posted $0.15 EPS. Analysts expect that Wingstop Inc. will post $0.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Sunday, September 3rd will be given a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.85%.
A number of research firms recently issued reports on WING. Stephens lifted their target price on Wingstop from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 8th. Wells Fargo & Company reiterated an “outperform” rating and issued a $35.00 target price (up from $31.00) on shares of Wingstop in a report on Monday, May 8th. Barclays PLC raised their price target on Wingstop from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday. Cowen and Company restated an “outperform” rating and issued a $36.00 price target on shares of Wingstop in a research note on Monday, June 26th. Finally, Zacks Investment Research cut Wingstop from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $34.40.
In other news, insider Flynn Dekker sold 4,102 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $30.59, for a total transaction of $125,480.18. Following the transaction, the insider now owns 44,014 shares of the company’s stock, valued at $1,346,388.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sidney J. Feltenstein sold 26,000 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $30.06, for a total transaction of $781,560.00. Following the transaction, the director now directly owns 39,750 shares in the company, valued at approximately $1,194,885. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,510 shares of company stock valued at $2,448,937. 1.76% of the stock is currently owned by corporate insiders.
Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.
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