Wingstop (NASDAQ:WING) Stock Price Down 5.8% – Time to Sell?

Wingstop Inc. (NASDAQ:WING) shares fell 5.8% during trading on Tuesday . The company traded as low as $144.51 and last traded at $145.1410. Approximately 140,125 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,143,777 shares. The stock had previously closed at $154.06.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WING. Guggenheim lowered their target price on Wingstop from $255.00 to $215.00 and set a “buy” rating for the company in a report on Monday, May 4th. Stifel Nicolaus reduced their price target on Wingstop from $325.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. TD Cowen reaffirmed a “hold” rating and issued a $160.00 price objective on shares of Wingstop in a research note on Thursday, July 9th. Bank of America dropped their price objective on shares of Wingstop from $264.00 to $234.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Finally, Piper Sandler upgraded shares of Wingstop from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $283.00 to $190.00 in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.19.

Wingstop Stock Performance

The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 36.24, a P/E/G ratio of 1.78 and a beta of 1.79. The company has a fifty day simple moving average of $150.08 and a 200 day simple moving average of $197.74.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The company had revenue of $183.72 million for the quarter, compared to analyst estimates of $187.82 million. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 earnings per share. As a group, equities analysts predict that Wingstop Inc. will post 4.57 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. Wingstop’s dividend payout ratio is currently 29.85%.

Hedge Funds Weigh In On Wingstop

A number of hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its position in Wingstop by 76.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after acquiring an additional 60 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of Wingstop by 197.9% in the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock worth $34,000 after acquiring an additional 95 shares in the last quarter. GW&K Investment Management LLC lifted its stake in shares of Wingstop by 75.7% in the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock valued at $45,000 after purchasing an additional 81 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of Wingstop during the 2nd quarter valued at about $46,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after purchasing an additional 119 shares in the last quarter.

About Wingstop

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.