Eagle Asset Management Inc. Has $4.94 Million Holdings in Wingstop Inc. (WING)
Eagle Asset Management Inc. cut its position in Wingstop Inc. (NASDAQ:WING) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 159,821 shares of the restaurant operator’s stock after selling 13,704 shares during the period. Eagle Asset Management Inc. owned about 0.55% of Wingstop worth $4,938,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortaleza Asset Management Inc. acquired a new stake in shares of Wingstop during the second quarter worth $108,000. LS Investment Advisors LLC raised its holdings in shares of Wingstop by 291.0% during the first quarter. LS Investment Advisors LLC now owns 4,321 shares of the restaurant operator’s stock worth $122,000 after acquiring an additional 3,216 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Wingstop by 79.3% during the second quarter. State of Alaska Department of Revenue now owns 5,720 shares of the restaurant operator’s stock worth $176,000 after acquiring an additional 2,530 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Wingstop by 16.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,767 shares of the restaurant operator’s stock worth $163,000 after acquiring an additional 804 shares during the period. Finally, Mason Street Advisors LLC raised its holdings in shares of Wingstop by 7.4% during the first quarter. Mason Street Advisors LLC now owns 6,750 shares of the restaurant operator’s stock worth $191,000 after acquiring an additional 468 shares during the period.
Wingstop Inc. (NASDAQ WING) opened at 32.90 on Friday. The company has a market cap of $956.47 million, a P/E ratio of 51.33 and a beta of 0.58. The stock has a 50 day moving average of $32.71 and a 200-day moving average of $29.88. Wingstop Inc. has a 12 month low of $24.74 and a 12 month high of $35.91.
Wingstop (NASDAQ:WING) last announced its earnings results on Thursday, August 3rd. The restaurant operator reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.03. The company had revenue of $24.70 million during the quarter, compared to the consensus estimate of $24.61 million. Wingstop had a net margin of 19.28% and a negative return on equity of 28.04%. During the same quarter in the prior year, the company posted $0.15 earnings per share. Equities research analysts expect that Wingstop Inc. will post $0.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Sunday, September 3rd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.85%. Wingstop’s dividend payout ratio is currently 10.94%.
In related news, Chairman Charles R. Morrison sold 25,000 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $34.71, for a total transaction of $867,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stacy Peterson sold 11,557 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $34.60, for a total transaction of $399,872.20. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.
A number of research analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Wingstop in a research report on Monday, May 15th. BidaskClub raised shares of Wingstop from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) raised shares of Wingstop from a “buy” rating to a “conviction-buy” rating and set a $36.00 target price for the company in a research report on Tuesday, May 23rd. Zacks Investment Research raised shares of Wingstop from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $34.00 target price (up previously from $32.00) on shares of Wingstop in a research report on Friday, August 4th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Wingstop has an average rating of “Buy” and an average target price of $34.25.
Wingstop Company Profile
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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