Wingstop (NASDAQ:WING) Price Target Raised to $398.00

Wingstop (NASDAQ:WING) had its price objective raised by Citigroup from $375.00 to $398.00 in a report published on Thursday, Benzinga reports. Citigroup currently has a neutral rating on the restaurant operator’s stock.

Other equities analysts have also issued reports about the stock. BMO Capital Markets increased their price objective on shares of Wingstop from $275.00 to $325.00 and gave the company a market perform rating in a report on Thursday. Jefferies Financial Group raised their price target on Wingstop from $310.00 to $335.00 and gave the stock a hold rating in a research report on Tuesday, April 16th. Bank of America upped their price objective on Wingstop from $421.00 to $461.00 and gave the company a buy rating in a report on Thursday. Wedbush raised their target price on Wingstop from $400.00 to $425.00 and gave the stock an outperform rating in a report on Thursday. Finally, Robert W. Baird upped their price target on Wingstop from $390.00 to $405.00 and gave the company an outperform rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average target price of $330.39.

Wingstop Stock Performance

NASDAQ:WING opened at $388.55 on Thursday. The stock’s fifty day moving average price is $360.49 and its two-hundred day moving average price is $288.72. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 138.27, a P/E/G ratio of 6.42 and a beta of 1.67. Wingstop has a 52-week low of $150.08 and a 52-week high of $396.00.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.22. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. The firm had revenue of $145.70 million during the quarter, compared to analyst estimates of $136.34 million. During the same period last year, the company earned $0.59 earnings per share. The company’s revenue was up 34.0% on a year-over-year basis. On average, equities analysts predict that Wingstop will post 3.4 EPS for the current fiscal year.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Thursday, May 16th. Wingstop’s dividend payout ratio is presently 31.32%.

Insider Buying and Selling

In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the sale, the chief executive officer now directly owns 17,107 shares in the company, valued at approximately $5,771,901.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of the transaction, the chief executive officer now directly owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kilandigalu Madati sold 1,472 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $339.87, for a total value of $500,288.64. Following the transaction, the director now directly owns 5,450 shares in the company, valued at approximately $1,852,291.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,901 shares of company stock worth $5,120,605. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Franklin Resources Inc. raised its stake in Wingstop by 155.7% in the fourth quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock valued at $224,093,000 after buying an additional 531,880 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Wingstop by 64.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,079,939 shares of the restaurant operator’s stock valued at $194,216,000 after purchasing an additional 422,727 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Wingstop during the fourth quarter worth $103,899,000. American Century Companies Inc. increased its holdings in shares of Wingstop by 29.4% in the third quarter. American Century Companies Inc. now owns 1,626,558 shares of the restaurant operator’s stock valued at $292,520,000 after purchasing an additional 370,032 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Wingstop in the fourth quarter valued at about $80,423,000.

Wingstop Company Profile

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.