Citigroup Reaffirms Maintains Rating for Wingstop (NASDAQ:WING)

Citigroup reaffirmed their maintains rating on shares of Wingstop (NASDAQ:WINGGet Rating) in a research report released on Friday morning, Benzinga reports.

WING has been the subject of a number of other reports. Cowen dropped their price target on shares of Wingstop to $100.00 and set an outperform rating for the company in a research report on Wednesday, May 18th. StockNews.com assumed coverage on shares of Wingstop in a research report on Thursday, March 31st. They set a hold rating for the company. Morgan Stanley lowered their price objective on shares of Wingstop from $117.00 to $108.00 and set an equal weight rating for the company in a research report on Monday, July 18th. BTIG Research boosted their price objective on shares of Wingstop from $125.00 to $145.00 and gave the company a buy rating in a research report on Thursday. Finally, Robert W. Baird increased their price target on Wingstop from $120.00 to $150.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $137.33.

Wingstop Stock Up 5.3 %

Shares of NASDAQ:WING opened at $126.18 on Friday. Wingstop has a 12-month low of $67.67 and a 12-month high of $187.35. The stock has a market cap of $3.77 billion, a PE ratio of 98.58, a P/E/G ratio of 5.93 and a beta of 1.39. The business has a 50 day moving average of $85.08 and a 200-day moving average of $108.94.

Wingstop (NASDAQ:WINGGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The restaurant operator reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. Wingstop had a negative return on equity of 10.89% and a net margin of 13.25%. The company had revenue of $83.78 million during the quarter, compared to analysts’ expectations of $86.11 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis. Equities research analysts expect that Wingstop will post 1.52 earnings per share for the current year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 12th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.60%. This is an increase from Wingstop’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, August 11th. Wingstop’s dividend payout ratio (DPR) is 53.13%.

Hedge Funds Weigh In On Wingstop

A number of hedge funds have recently made changes to their positions in the stock. State of Michigan Retirement System increased its holdings in Wingstop by 1.3% in the fourth quarter. State of Michigan Retirement System now owns 7,600 shares of the restaurant operator’s stock worth $1,313,000 after purchasing an additional 100 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Wingstop in the fourth quarter worth approximately $47,888,000. State of New Jersey Common Pension Fund D increased its holdings in Wingstop by 8.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 17,663 shares of the restaurant operator’s stock worth $3,052,000 after purchasing an additional 1,387 shares in the last quarter. Yousif Capital Management LLC bought a new stake in Wingstop in the fourth quarter worth approximately $2,775,000. Finally, AdvisorShares Investments LLC increased its holdings in Wingstop by 2.9% in the fourth quarter. AdvisorShares Investments LLC now owns 3,455 shares of the restaurant operator’s stock worth $597,000 after purchasing an additional 96 shares in the last quarter.

Wingstop Company Profile

(Get Rating)

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.

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