Wingstop (NASDAQ:WING) Price Target Raised to $400.00

Wingstop (NASDAQ:WING) had its price target hoisted by TD Securities from $330.00 to $400.00 in a research report released on Thursday,Benzinga reports. TD Securities currently has a buy rating on the restaurant operator’s stock.

WING has been the topic of several other reports. BTIG Research restated a “buy” rating on shares of Wingstop in a research note on Tuesday, March 25th. Bank of America boosted their target price on Wingstop from $319.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Stifel Nicolaus dropped their target price on Wingstop from $375.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Piper Sandler boosted their target price on Wingstop from $271.00 to $272.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, Guggenheim boosted their target price on Wingstop from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $348.35.

Wingstop Stock Up 0.9%

WING opened at $374.82 on Thursday. Wingstop has a 52 week low of $204.00 and a 52 week high of $433.86. The stock’s fifty day moving average is $275.32 and its two-hundred day moving average is $276.73. The company has a market capitalization of $10.46 billion, a P/E ratio of 101.03, a PEG ratio of 2.27 and a beta of 1.88.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.15. Wingstop had a negative return on equity of 21.59% and a net margin of 17.37%. The business had revenue of $171.09 million for the quarter, compared to the consensus estimate of $172.25 million. During the same period last year, the business posted $0.98 EPS. The business’s revenue was up 17.4% compared to the same quarter last year. Equities analysts anticipate that Wingstop will post 4.18 earnings per share for the current year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.08 annualized dividend and a dividend yield of 0.29%. Wingstop’s dividend payout ratio (DPR) is presently 18.09%.

Insider Activity

In related news, SVP Raj Kapoor sold 637 shares of Wingstop stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $273.07, for a total value of $173,945.59. Following the completion of the transaction, the senior vice president now owns 517 shares in the company, valued at $141,177.19. The trade was a 55.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Skipworth sold 10,000 shares of Wingstop stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $337.34, for a total value of $3,373,400.00. Following the completion of the transaction, the chief executive officer now owns 47,190 shares of the company’s stock, valued at approximately $15,919,074.60. This represents a 17.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Several institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio purchased a new position in shares of Wingstop in the 1st quarter valued at about $11,279,000. Geneos Wealth Management Inc. increased its stake in shares of Wingstop by 121.4% in 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Wingstop by 5.6% in 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 valued at $20,852,000 after purchasing an additional 4,937 shares in the last quarter. United Services Automobile Association purchased a new stake in Wingstop during the 1st quarter worth approximately $429,000. Finally, Jones Financial Companies Lllp increased its stake in Wingstop by 2,770.6% during the 1st quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator’s stock worth $440,000 after buying an additional 1,884 shares in the last quarter.

About Wingstop

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.