The Manufacturers Life Insurance Company increased its position in shares of Wingstop Inc. (NASDAQ:WING) by 77.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,587 shares of the restaurant operator’s stock after buying an additional 9,892 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Wingstop worth $699,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in WING. Pier Capital LLC acquired a new stake in shares of Wingstop during the 2nd quarter worth about $7,703,000. Goldman Sachs Group Inc. grew its holdings in Wingstop by 56.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,453,769 shares of the restaurant operator’s stock worth $44,921,000 after acquiring an additional 523,811 shares during the last quarter. BlackRock Inc. grew its holdings in Wingstop by 200,013.0% during the 1st quarter. BlackRock Inc. now owns 3,473,961 shares of the restaurant operator’s stock worth $98,242,000 after acquiring an additional 3,472,225 shares during the last quarter. Cadence Capital Management LLC grew its holdings in Wingstop by 85.2% during the 2nd quarter. Cadence Capital Management LLC now owns 18,300 shares of the restaurant operator’s stock worth $565,000 after acquiring an additional 8,420 shares during the last quarter. Finally, Timpani Capital Management LLC bought a new stake in Wingstop during the 2nd quarter worth about $2,084,000.
Wingstop Inc. (WING) traded up $0.95 during mid-day trading on Monday, reaching $39.69. The company had a trading volume of 693,908 shares, compared to its average volume of 497,615. The company has a debt-to-equity ratio of -2.37, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $1,127.14, a P/E ratio of 53.81, a PEG ratio of 2.74 and a beta of 0.69. Wingstop Inc. has a fifty-two week low of $24.74 and a fifty-two week high of $40.51.
Wingstop (NASDAQ:WING) last issued its earnings results on Thursday, November 2nd. The restaurant operator reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The firm had revenue of $26.03 million during the quarter, compared to the consensus estimate of $25.13 million. Wingstop had a negative return on equity of 32.39% and a net margin of 20.70%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. analysts anticipate that Wingstop Inc. will post 0.73 EPS for the current fiscal year.
The company also recently disclosed a None dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Monday, December 4th will be paid a $0.07 dividend. This represents a dividend yield of 0.77%. The ex-dividend date is Friday, December 1st. Wingstop’s dividend payout ratio is currently 9.72%.
In related news, insider Lawrence Kruguer sold 10,526 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $33.67, for a total value of $354,410.42. Following the sale, the insider now directly owns 22,116 shares in the company, valued at $744,645.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Flynn Dekker sold 16,350 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $35.77, for a total value of $584,839.50. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.
WING has been the topic of several recent research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $39.00 target price on shares of Wingstop in a research note on Monday, October 9th. Stifel Nicolaus raised shares of Wingstop from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $40.00 in a research note on Friday, November 3rd. BidaskClub raised shares of Wingstop from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Wingstop from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, Longbow Research assumed coverage on shares of Wingstop in a report on Friday, October 13th. They set a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $37.50.
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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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