Redwood Investments LLC lessened its holdings in shares of Wingstop Inc (NASDAQ:WING) by 5.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 176,601 shares of the restaurant operator’s stock after selling 9,735 shares during the period. Wingstop makes up approximately 1.2% of Redwood Investments LLC’s holdings, making the stock its 29th largest position. Redwood Investments LLC owned 0.60% of Wingstop worth $16,733,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of Wingstop by 16.1% during the 4th quarter. Bank of America Corp DE now owns 171,701 shares of the restaurant operator’s stock worth $11,022,000 after purchasing an additional 23,781 shares during the last quarter. Mason Street Advisors LLC lifted its position in shares of Wingstop by 3.6% during the 1st quarter. Mason Street Advisors LLC now owns 9,421 shares of the restaurant operator’s stock worth $716,000 after purchasing an additional 323 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Wingstop by 44.3% during the 1st quarter. Wells Fargo & Company MN now owns 542,169 shares of the restaurant operator’s stock worth $41,221,000 after purchasing an additional 166,571 shares during the last quarter. Columbus Circle Investors acquired a new position in shares of Wingstop during the 1st quarter worth about $1,537,000. Finally, Two Sigma Advisers LP lifted its position in shares of Wingstop by 23.6% during the 4th quarter. Two Sigma Advisers LP now owns 19,218 shares of the restaurant operator’s stock worth $1,234,000 after purchasing an additional 3,669 shares during the last quarter.
Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Wingstop from a “buy” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets restated an “outperform” rating and set a $108.00 price target (up from $84.00) on shares of Wingstop in a research note on Monday, June 24th. Northcoast Research assumed coverage on Wingstop in a research note on Tuesday, July 30th. They set a “sell” rating on the stock. BidaskClub lowered Wingstop from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Co boosted their price target on Wingstop from $85.00 to $111.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Wingstop has an average rating of “Hold” and an average price target of $89.93.
Wingstop (NASDAQ:WING) last released its quarterly earnings data on Thursday, August 1st. The restaurant operator reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Wingstop had a negative return on equity of 11.09% and a net margin of 11.54%. The company had revenue of $48.56 million for the quarter, compared to analyst estimates of $47.53 million. During the same period in the prior year, the company posted $0.23 EPS. The company’s revenue was up 31.1% compared to the same quarter last year. On average, equities research analysts anticipate that Wingstop Inc will post 0.73 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.11 dividend. This is a positive change from Wingstop’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Thursday, August 29th. Wingstop’s dividend payout ratio is currently 42.86%.
In other news, insider Maurice Cooper sold 380 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $78.95, for a total value of $30,001.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles R. Morrison sold 20,009 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $78.10, for a total value of $1,562,702.90. Following the completion of the sale, the chief executive officer now owns 123,007 shares in the company, valued at $9,606,846.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,678 shares of company stock worth $2,843,661. Corporate insiders own 1.00% of the company’s stock.
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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