Wingstop (NASDAQ:WING) Given New $375.00 Price Target at Wells Fargo & Company

Wingstop (NASDAQ:WING) had its price target increased by Wells Fargo & Company from $320.00 to $375.00 in a research report report published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the restaurant operator’s stock.

A number of other analysts have also commented on the company. TD Securities boosted their target price on Wingstop from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Barclays decreased their target price on Wingstop from $315.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird boosted their target price on Wingstop from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 23rd. Jefferies Financial Group raised Wingstop from a “hold” rating to a “buy” rating and set a $270.00 target price for the company in a research report on Monday, March 31st. Finally, Morgan Stanley decreased their target price on Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $341.83.

Wingstop Price Performance

Wingstop stock opened at $341.96 on Friday. The stock’s fifty day moving average price is $261.88 and its two-hundred day moving average price is $276.02. Wingstop has a one year low of $204.00 and a one year high of $433.86. The firm has a market cap of $9.54 billion, a PE ratio of 92.17, a price-to-earnings-growth ratio of 2.27 and a beta of 1.80.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.15. Wingstop had a negative return on equity of 21.59% and a net margin of 17.37%. The company had revenue of $171.09 million for the quarter, compared to the consensus estimate of $172.25 million. During the same quarter last year, the business posted $0.98 EPS. Wingstop’s revenue for the quarter was up 17.4% on a year-over-year basis. Sell-side analysts expect that Wingstop will post 4.18 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, May 16th. This represents a $1.08 annualized dividend and a yield of 0.32%. Wingstop’s dividend payout ratio (DPR) is presently 18.09%.

Insider Activity at Wingstop

In related news, CEO Michael Skipworth sold 10,000 shares of Wingstop stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $337.34, for a total transaction of $3,373,400.00. Following the sale, the chief executive officer now owns 47,190 shares of the company’s stock, valued at approximately $15,919,074.60. This trade represents a 17.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Raj Kapoor sold 637 shares of Wingstop stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $273.07, for a total value of $173,945.59. Following the sale, the senior vice president now directly owns 517 shares in the company, valued at $141,177.19. This trade represents a 55.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,728 shares of company stock worth $3,568,711. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in Wingstop by 521.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 73 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after buying an additional 35 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Wingstop by 93.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator’s stock worth $29,000 after buying an additional 62 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Wingstop in the 4th quarter worth $30,000. Finally, Signaturefd LLC lifted its holdings in shares of Wingstop by 106.9% in the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator’s stock worth $34,000 after buying an additional 77 shares during the period.

About Wingstop

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.