Wingstop (NASDAQ:WING) Sets New 52-Week Low – Time to Sell?

Wingstop Inc. (NASDAQ:WING)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $108.25 and last traded at $108.9160, with a volume of 78444 shares trading hands. The stock had previously closed at $112.24.

Wall Street Analyst Weigh In

Several analysts have issued reports on WING shares. Guggenheim reduced their price target on shares of Wingstop from $255.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Robert W. Baird raised shares of Wingstop to a “strong-buy” rating in a research note on Monday, August 24th. UBS Group restated a “neutral” rating on shares of Wingstop in a research report on Tuesday, July 14th. Bank of America reduced their target price on Wingstop from $264.00 to $234.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Finally, Stephens reiterated an “overweight” rating and set a $200.00 target price on shares of Wingstop in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.81.

Wingstop Stock Up 3.3%

The firm has a market capitalization of $3.09 billion, a PE ratio of 26.98, a P/E/G ratio of 1.31 and a beta of 1.81. The business’s fifty day moving average price is $138.06 and its 200 day moving average price is $166.51.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.16. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The business had revenue of $185.56 million for the quarter, compared to the consensus estimate of $190.25 million. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Wingstop Inc. will post 4.5 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Shareholders of record on Saturday, August 15th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Wingstop’s previous quarterly dividend of $0.30. Wingstop’s dividend payout ratio is currently 31.35%.

Institutional Investors Weigh In On Wingstop

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its position in Wingstop by 16,825.6% during the second quarter. California State Teachers Retirement System now owns 5,475,941 shares of the restaurant operator’s stock worth $949,583,000 after buying an additional 5,443,588 shares during the period. BlackRock Inc. purchased a new stake in Wingstop in the 2nd quarter valued at about $481,314,000. Jupiter Topco LLC purchased a new stake in Wingstop in the 2nd quarter valued at about $147,440,000. Steadfast Capital Management LP increased its stake in shares of Wingstop by 296.2% during the 3rd quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock valued at $239,227,000 after acquiring an additional 710,621 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Wingstop during the 2nd quarter worth about $80,456,000.

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.