Wingstop Inc. (WING) Holdings Lifted by Ameriprise Financial Inc.
Ameriprise Financial Inc. raised its stake in Wingstop Inc. (NASDAQ:WING) by 28.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 433,054 shares of the restaurant operator’s stock after buying an additional 96,545 shares during the quarter. Ameriprise Financial Inc. owned about 1.49% of Wingstop worth $13,381,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of WING. Fortaleza Asset Management Inc. acquired a new stake in shares of Wingstop during the second quarter worth about $108,000. Riverhead Capital Management LLC lifted its position in shares of Wingstop by 66.5% during the second quarter. Riverhead Capital Management LLC now owns 3,496 shares of the restaurant operator’s stock worth $108,000 after purchasing an additional 1,396 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position 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 purchasing an additional 804 shares in the last quarter. State of Alaska Department of Revenue lifted its position 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 purchasing an additional 2,530 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its position 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 purchasing an additional 468 shares in the last quarter.
Shares of Wingstop Inc. (NASDAQ:WING) opened at 32.98 on Friday. Wingstop Inc. has a 12 month low of $24.74 and a 12 month high of $35.61. The firm has a market cap of $958.79 million, a PE ratio of 51.45 and a beta of 0.58. The stock’s 50 day moving average is $33.64 and its 200 day moving average is $33.64.
Wingstop (NASDAQ:WING) last released its quarterly earnings data on Thursday, August 3rd. The restaurant operator reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. The business had revenue of $24.70 million for the quarter, compared to analyst estimates of $24.61 million. Wingstop had a negative return on equity of 28.04% and a net margin of 19.28%. During the same period in the previous year, the company posted $0.15 EPS. On average, analysts anticipate that Wingstop Inc. will post $0.72 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Sunday, September 3rd were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Wednesday, August 30th. Wingstop’s dividend payout ratio is currently 10.94%.
In other news, insider Lawrence Kruguer sold 10,526 shares of Wingstop stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $33.67, for a total value of $354,410.42. Following the transaction, the insider now directly owns 22,116 shares of the company’s stock, valued at approximately $744,645.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stacy Peterson sold 11,557 shares of Wingstop stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $34.60, for a total value of $399,872.20. The disclosure for this sale can be found here. Insiders sold a total of 47,083 shares of company stock worth $1,622,033 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.
Several brokerages have recently issued reports on WING. Cowen and Company reissued a “buy” rating on shares of Wingstop in a research report on Thursday, August 24th. BidaskClub raised shares of Wingstop from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Stifel Nicolaus began coverage on shares of Wingstop in a research report on Monday, October 2nd. They set a “hold” rating and a $35.00 price target on the stock. 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 reissued an “equal weight” rating and set a $34.00 price target (up previously from $32.00) on shares of Wingstop in a research report on Friday, August 4th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $34.38.
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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