9,302 Shares in Wingstop Inc. $WING Bought by Bank of Nova Scotia

Bank of Nova Scotia bought a new position in shares of Wingstop Inc. (NASDAQ:WING) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,302 shares of the restaurant operator’s stock, valued at approximately $1,613,000.

Other large investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Wingstop in the 2nd quarter worth about $69,000. William Blair Investment Management LLC purchased a new stake in shares of Wingstop in the second quarter valued at about $19,130,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Wingstop in the second quarter valued at approximately $2,955,000. Allworth Financial LP acquired a new stake in shares of Wingstop in the second quarter valued at approximately $34,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Wingstop during the 2nd quarter worth approximately $3,596,000.

Wingstop Trading Down 1.4%

Wingstop stock opened at $112.24 on Thursday. The stock has a fifty day moving average price of $140.06 and a 200 day moving average price of $167.97. Wingstop Inc. has a 52 week low of $110.44 and a 52 week high of $342.10. The firm has a market capitalization of $3.06 billion, a P/E ratio of 26.66, a PEG ratio of 1.35 and a beta of 1.81.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $185.56 million for the quarter, compared to analyst estimates of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $1.00 EPS. As a group, equities analysts predict that Wingstop Inc. will post 4.5 EPS for the current 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 given a $0.33 dividend. This is a boost from Wingstop’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Wingstop’s dividend payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WING. Stephens reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Wingstop in a research note on Thursday, July 30th. Weiss Ratings downgraded Wingstop from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Piper Sandler set a $173.00 price target on Wingstop in a report on Wednesday, July 29th. Benchmark reduced their target price on shares of Wingstop from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Wingstop from a “sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.