Prudential Financial Inc. Cuts Stake in Wingstop Inc. (WING)

Xavier Trudeau
Août 13, 2017

BidaskClub downgraded shares of Wingstop Inc. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock.

Media headlines about Wingstop (NASDAQ:WING) have been trending somewhat positive recently, Accern reports. BidaskClub raised Wingstop from a "sell" rating to a "hold" rating in a report on Wednesday. Zacks Investment Research upgraded shares of Wingstop from a "sell" rating to a "hold" rating in a report on Tuesday. Finally, Barclays PLC increased their target price on shares of Wingstop from $26.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, May 5th. Wells Fargo & Company reiterated an outperform rating and issued a $35.00 price target (up from $31.00) on shares of Wingstop in a research report on Monday, May 8th.

Several research analysts have recently commented on the stock. The stock has a consensus rating of Buy and an average price target of $34.50. The value of the company's investment in Wingstop Inc. increased from $38,658,000 to $40,225,000 a change of $1,567,000 quarter over quarter.

The stock last traded at $32.84 much higher than the 50 day moving average which is $31.00 and which is impressively higher than the 200 day moving average of $29.15. The company has a market capitalization of $973.33 million, a price-to-earnings ratio of 52.23 and a beta of 0.60.

Wingstop (NASDAQ:WING) last posted its earnings results on Thursday, August 3rd. In the last earnings report the EPS was $0.64 and is estimated to be $0.73 for the current year with 29,072,000 shares now outstanding. The company had revenue of $24.70 million during the quarter, compared to analyst estimates of $24.61 million. Wingstop had a net margin of 19.28% and a negative return on equity of 28.04%. During the same period in the previous year, the business earned $0.15 EPS. Equities analysts forecast that Wingstop will post $0.73 earnings per share for the current fiscal year.

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The company declared a dividend that will be paid on Monday September 18th, 2017. This represents a $0.28 annualized dividend and a dividend yield of 0.85%. Also, Director Sidney J. Feltenstein sold 26,000 shares of the firm's stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $30.08, for a total transaction of $463,262.08. Following the sale, the director now owns 39,750 shares of the company's stock, valued at $1,195,680. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sidney J. Feltenstein sold 15,401 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $30.59, for a total value of $125,480.18. Following the completion of the sale, the insider now directly owns 44,014 shares in the company, valued at approximately $1,346,388.26. The disclosure for this sale can be found here. Insiders sold 45,905 shares of company stock worth $1,382,411 over the last quarter. The Director now owns $875,988 of the stock as recorded in a recent Form 4 SEC filing.

Several hedge funds have recently modified their holdings of the company. Fortaleza Asset Management Inc. acquired a new stake in shares of Wingstop during the second quarter worth approximately $108,000. Jennison Associates LLC now owns 1,004,059 shares of the restaurant operator's stock valued at $28,395,000 after buying an additional 91,471 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Wingstop by 10.0% in the first quarter. LS Investment Advisors LLC now owns 4,321 shares of the restaurant operator's stock valued at $122,000 after buying an additional 3,216 shares during the period. Finally, Elk Creek Partners LLC raised its stake in shares of Wingstop by 36.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,767 shares of the restaurant operator's stock valued at $163,000 after buying an additional 804 shares during the period. BlackRock Inc. raised its stake in shares of Wingstop by 200,013.0% in the first quarter. Vanguard Group Inc. now owns 2,417,086 shares of the restaurant operator's stock valued at $68,355,000 after buying an additional 92,070 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Wingstop by 16.2% in the first quarter. Texas Permanent School Fund now owns 20,898 shares of the restaurant operator's stock worth $591,000 after buying an additional 231 shares during the last quarter.

Wingstop Inc., launched on March 18, 2015, is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company.

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