Wingstop (NASDAQ:WING) Price Target Raised to $461.00

Wingstop (NASDAQ:WING) had its target price raised by Bank of America from $421.00 to $461.00 in a research report sent to investors on Thursday, Benzinga reports. Bank of America currently has a buy rating on the restaurant operator’s stock.

A number of other research analysts have also recently weighed in on the stock. Citigroup lifted their price objective on shares of Wingstop from $320.00 to $375.00 and gave the company a neutral rating in a report on Wednesday, April 17th. Benchmark restated a hold rating on shares of Wingstop in a research note on Thursday. BMO Capital Markets increased their price target on Wingstop from $275.00 to $325.00 and gave the stock a market perform rating in a research report on Thursday. Stifel Nicolaus boosted their price target on shares of Wingstop from $270.00 to $330.00 and gave the stock a buy rating in a report on Friday, February 16th. Finally, TD Cowen reaffirmed a buy rating and set a $410.00 price objective on shares of Wingstop in a report on Wednesday. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Wingstop presently has a consensus rating of Hold and a consensus target price of $330.39.

Wingstop Stock Up 1.8 %

Shares of WING stock opened at $388.55 on Thursday. Wingstop has a 52-week low of $150.08 and a 52-week high of $396.00. The stock has a market cap of $11.41 billion, a PE ratio of 138.27, a price-to-earnings-growth ratio of 6.42 and a beta of 1.67. The business has a 50-day simple moving average of $360.49 and a 200-day simple moving average of $288.72.

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

Wingstop Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid 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 of this dividend is Thursday, May 16th. Wingstop’s dividend payout ratio (DPR) is presently 31.32%.

Insider Activity

In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following 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 available through the SEC website. In other Wingstop news, CEO Michael Skipworth sold 10,843 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kilandigalu Madati sold 1,472 shares of the stock in a transaction 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 owns 5,450 shares of the company’s stock, valued at $1,852,291.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,901 shares of company stock valued at $5,120,605. 0.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wingstop

Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. raised its position in 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 period. Wellington Management Group LLP lifted its stake in Wingstop by 11.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,167,230 shares of the restaurant operator’s stock worth $209,915,000 after acquiring an additional 121,134 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Wingstop by 1.8% during the 4th quarter. Federated Hermes Inc. now owns 1,107,852 shares of the restaurant operator’s stock valued at $284,253,000 after acquiring an additional 19,540 shares during the period. Artisan Partners Limited Partnership grew its position in Wingstop by 64.3% in 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 acquiring an additional 422,727 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Wingstop by 155.7% in the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock valued at $224,093,000 after acquiring an additional 531,880 shares in the last quarter.

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.