Wingstop Inc (NASDAQ:WING) Holdings Cut by First Trust Advisors LP

First Trust Advisors LP lessened its holdings in Wingstop Inc (NASDAQ:WING) by 53.5% during the first quarter, Holdings Channel reports. The fund owned 55,984 shares of the restaurant operator’s stock after selling 64,343 shares during the period. First Trust Advisors LP’s holdings in Wingstop were worth $4,256,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Miles Capital Inc. bought a new stake in shares of Wingstop during the first quarter valued at approximately $216,000. Piedmont Investment Advisors Inc. increased its holdings in shares of Wingstop by 5.7% during the first quarter. Piedmont Investment Advisors Inc. now owns 7,364 shares of the restaurant operator’s stock valued at $560,000 after acquiring an additional 397 shares in the last quarter. Manchester Capital Management LLC bought a new stake in shares of Wingstop during the first quarter valued at approximately $40,000. Great West Life Assurance Co. Can increased its holdings in shares of Wingstop by 4.8% during the first quarter. Great West Life Assurance Co. Can now owns 39,929 shares of the restaurant operator’s stock valued at $3,034,000 after acquiring an additional 1,833 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Wingstop by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 11,347 shares of the restaurant operator’s stock valued at $863,000 after acquiring an additional 205 shares in the last quarter.

Shares of Wingstop stock opened at $90.48 on Thursday. Wingstop Inc has a 12-month low of $47.83 and a 12-month high of $91.53. The firm has a market cap of $2.66 billion, a P/E ratio of 107.71, a P/E/G ratio of 6.25 and a beta of 0.73.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Tuesday, May 7th. The restaurant operator reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Wingstop had a negative return on equity of 13.31% and a net margin of 13.52%. The business had revenue of $48.05 million during the quarter, compared to the consensus estimate of $45.68 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. Wingstop’s revenue was up 28.5% compared to the same quarter last year. On average, analysts forecast that Wingstop Inc will post 0.74 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.36 annualized dividend and a yield of 0.40%. Wingstop’s dividend payout ratio is currently 42.86%.

In other Wingstop news, CEO Charles R. Morrison sold 20,009 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $78.10, for a total value of $1,562,702.90. Following the transaction, the chief executive officer now owns 123,007 shares of the company’s stock, valued at $9,606,846.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Madison Jobe sold 2,823 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $77.98, for a total value of $220,137.54. The disclosure for this sale can be found here. In the last three months, insiders sold 49,678 shares of company stock worth $3,756,961. Insiders own 1.00% of the company’s stock.

Several equities research analysts have recently commented on the company. Piper Jaffray Companies assumed coverage on Wingstop in a report on Monday, May 13th. They set an “overweight” rating and a $88.00 price objective for the company. BMO Capital Markets started coverage on Wingstop in a report on Tuesday, March 26th. They set an “outperform” rating and a $71.76 price target for the company. Stifel Nicolaus upgraded Wingstop from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $92.00 in a report on Monday, June 3rd. BidaskClub upgraded Wingstop from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 5th. Finally, Zacks Investment Research upgraded Wingstop from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $72.05.

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Wingstop Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.

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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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