Wingstop Inc. (NASDAQ:WING – Get Free Report) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Friday, May 17th will be paid a dividend of 0.22 per share by the restaurant operator on Friday, June 7th. This represents a $0.88 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, May 16th.
Wingstop has raised its dividend by an average of 17.9% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Wingstop has a payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Wingstop to earn $3.69 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 23.8%.
Wingstop Price Performance
Shares of Wingstop stock traded up $5.42 during trading on Thursday, reaching $389.40. 47,126 shares of the stock traded hands, compared to its average volume of 479,753. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 164.89, a P/E/G ratio of 6.61 and a beta of 1.67. The business has a fifty day simple moving average of $358.55 and a two-hundred day simple moving average of $285.89. Wingstop has a 52-week low of $150.08 and a 52-week high of $396.00.
Wall Street Analyst Weigh In
Several brokerages have issued reports on WING. Sanford C. Bernstein began coverage on shares of Wingstop in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $340.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Wingstop from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Truist Financial reaffirmed a “hold” rating and set a $292.00 price target on shares of Wingstop in a research note on Monday, April 1st. BMO Capital Markets lifted their price target on shares of Wingstop from $235.00 to $275.00 and gave the company a “market perform” rating in a research note on Thursday, February 22nd. Finally, Wedbush lifted their price target on shares of Wingstop from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Wingstop presently has an average rating of “Hold” and a consensus price target of $299.17.
Get Our Latest Report on Wingstop
Insider Activity at Wingstop
In other Wingstop news, SVP Marisa Carona sold 2,586 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $371.96, for a total value of $961,888.56. Following the completion of the transaction, the senior vice president now owns 1,646 shares in the company, valued at $612,246.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Marisa Carona sold 2,586 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the completion of the sale, the senior vice president now owns 1,646 shares of the company’s stock, valued at $612,246.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the sale, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. Insiders sold 14,901 shares of company stock worth $5,120,605 over the last three months. Company insiders own 0.36% of the company’s stock.
Wingstop Company Profile
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.
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