Wellington Management Group LLP Purchases 326,568 Shares of Wingstop Inc. $WING

Wellington Management Group LLP grew its position in Wingstop Inc. (NASDAQ:WING) by 681.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 374,483 shares of the restaurant operator’s stock after purchasing an additional 326,568 shares during the quarter. Wellington Management Group LLP’s holdings in Wingstop were worth $64,939,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Baird Financial Group Inc. bought a new position in Wingstop in the first quarter valued at approximately $256,000. Jones Financial Companies Lllp increased its stake in shares of Wingstop by 2,770.6% in the 1st quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator’s stock valued at $440,000 after purchasing an additional 1,884 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Wingstop by 5.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator’s stock worth $20,852,000 after buying an additional 4,937 shares in the last quarter. Geneos Wealth Management Inc. lifted 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 worth $49,000 after buying an additional 119 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in Wingstop by 45.5% in the second quarter. Sivia Capital Partners LLC now owns 1,387 shares of the restaurant operator’s stock valued at $467,000 after buying an additional 434 shares in the last quarter.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $113.15 on Thursday. Wingstop Inc. has a 52-week low of $105.43 and a 52-week high of $325.00. The firm has a 50 day moving average price of $135.44 and a two-hundred day moving average price of $162.92. The stock has a market cap of $3.08 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 1.30 and a beta of 1.79.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, July 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 $185.56 million for the quarter, compared to analyst estimates of $190.25 million. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. Wingstop’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. Analysts predict that Wingstop Inc. will post 4.5 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 5th. Investors of record on Saturday, August 15th will be issued a $0.33 dividend. The ex-dividend date is Friday, August 14th. This is a boost from Wingstop’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.2%. Wingstop’s dividend payout ratio (DPR) is currently 31.35%.

Analyst Upgrades and Downgrades

Several brokerages have commented on WING. Benchmark lowered their target price on Wingstop from $285.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Royal Bank Of Canada decreased their price target on shares of Wingstop from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Sanford C. Bernstein downgraded shares of Wingstop from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $220.00 to $155.00 in a research note on Monday, August 3rd. Robert W. Baird upgraded shares of Wingstop to a “strong-buy” rating in a research report on Monday, August 24th. Finally, BTIG Research lowered their price target on shares of Wingstop from $305.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.81.

Wingstop Profile

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.