Putnam Investments LLC Has $19.84 Million Stake in Wingstop Inc (NASDAQ:WING)
Putnam Investments LLC trimmed its position in Wingstop Inc (NASDAQ:WING) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,420 shares of the restaurant operator’s stock after selling 2,930 shares during the quarter. Putnam Investments LLC’s holdings in Wingstop were worth $19,842,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Wingstop by 1.6% in the second quarter. BlackRock Inc. now owns 4,247,301 shares of the restaurant operator’s stock valued at $402,431,000 after purchasing an additional 68,645 shares in the last quarter. Vanguard Group Inc. raised its stake in Wingstop by 6.4% during the second quarter. Vanguard Group Inc. now owns 3,389,552 shares of the restaurant operator’s stock worth $321,159,000 after acquiring an additional 204,867 shares in the last quarter. Renaissance Technologies LLC raised its stake in Wingstop by 10.6% during the second quarter. Renaissance Technologies LLC now owns 1,179,100 shares of the restaurant operator’s stock worth $111,720,000 after acquiring an additional 113,200 shares in the last quarter. Invesco Ltd. raised its stake in Wingstop by 375.0% during the second quarter. Invesco Ltd. now owns 1,165,972 shares of the restaurant operator’s stock worth $110,476,000 after acquiring an additional 920,513 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in Wingstop by 2.0% during the first quarter. Federated Investors Inc. PA now owns 886,164 shares of the restaurant operator’s stock worth $67,375,000 after acquiring an additional 17,076 shares in the last quarter.
Wingstop stock traded up $0.59 during mid-day trading on Thursday, hitting $87.54. The stock had a trading volume of 143,228 shares, compared to its average volume of 441,826. The stock has a 50-day simple moving average of $97.24 and a two-hundred day simple moving average of $85.75. The stock has a market capitalization of $2.51 billion, a PE ratio of 104.21, a P/E/G ratio of 5.97 and a beta of 0.83. Wingstop Inc has a 12 month low of $56.95 and a 12 month high of $107.43.
The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.11 dividend. This is a boost from Wingstop’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.44 annualized dividend and a yield of 0.50%. Wingstop’s dividend payout ratio (DPR) is currently 52.38%.
In related news, CEO Charles R. Morrison sold 1,100 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $101.06, for a total value of $111,166.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael J. Hislop sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $93.74, for a total value of $468,700.00. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
WING has been the subject of several recent analyst reports. Zacks Investment Research lowered Wingstop from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Morgan Stanley increased their price objective on Wingstop from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. BidaskClub lowered Wingstop from a “hold” rating to a “sell” rating in a research note on Tuesday. BMO Capital Markets restated an “outperform” rating and set a $108.00 target price (up previously from $84.00) on shares of Wingstop in a report on Monday, June 24th. Finally, Piper Jaffray Companies increased their target price on Wingstop from $88.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $92.14.
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.
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