Stephens started coverage on shares of Wingstop (NASDAQ:WING – Get Rating) in a research note released on Thursday morning, The Fly reports. The firm issued an overweight rating on the restaurant operator’s stock.
A number of other analysts also recently commented on WING. Royal Bank of Canada increased their price objective on shares of Wingstop from $100.00 to $115.00 in a report on Friday, July 29th. Robert W. Baird increased their price objective on shares of Wingstop from $120.00 to $150.00 in a report on Friday, July 29th. Citigroup increased their price objective on shares of Wingstop from $118.00 to $145.00 and gave the company a buy rating in a report on Thursday, July 28th. Cowen increased their price objective on shares of Wingstop from $140.00 to $150.00 in a report on Monday, August 8th. Finally, Piper Sandler cut their price objective on shares of Wingstop from $85.00 to $70.00 and set an underweight rating for the company in a report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Wingstop has an average rating of Moderate Buy and a consensus price target of $139.65.
Wingstop Stock Down 3.9 %
WING opened at $127.39 on Thursday. Wingstop has a twelve month low of $67.67 and a twelve month high of $186.26. The company has a 50-day moving average price of $124.32 and a 200 day moving average price of $104.25. The company has a market cap of $3.81 billion, a PE ratio of 95.07, a price-to-earnings-growth ratio of 7.78 and a beta of 1.71.
Wingstop Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 12th were given a dividend of $0.19 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Wingstop’s previous quarterly dividend of $0.17. Wingstop’s dividend payout ratio (DPR) is presently 56.72%.
Hedge Funds Weigh In On Wingstop
A number of hedge funds have recently made changes to their positions in WING. Castle Wealth Management LLC purchased a new position in shares of Wingstop during the 2nd quarter worth approximately $45,000. Lindbrook Capital LLC boosted its position in Wingstop by 12.9% in the 2nd quarter. Lindbrook Capital LLC now owns 807 shares of the restaurant operator’s stock valued at $60,000 after buying an additional 92 shares during the period. First Horizon Advisors Inc. boosted its position in Wingstop by 3,766.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 812 shares of the restaurant operator’s stock valued at $60,000 after buying an additional 791 shares during the period. Fifth Third Bancorp boosted its position in Wingstop by 11.9% in the 2nd quarter. Fifth Third Bancorp now owns 838 shares of the restaurant operator’s stock valued at $63,000 after buying an additional 89 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in Wingstop in the 2nd quarter valued at approximately $130,000.
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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