Stephens Investment Management Group LLC Reduces Position in Wingstop Inc (NASDAQ:WING)

Stephens Investment Management Group LLC lessened its stake in shares of Wingstop Inc (NASDAQ:WING) by 26.6% in the second quarter, HoldingsChannel.com reports. The firm owned 589,896 shares of the restaurant operator’s stock after selling 213,904 shares during the quarter. Wingstop comprises approximately 1.1% of Stephens Investment Management Group LLC’s holdings, making the stock its 25th largest holding. Stephens Investment Management Group LLC’s holdings in Wingstop were worth $55,893,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in WING. Manchester Capital Management LLC bought a new position in shares of Wingstop during the first quarter valued at approximately $40,000. First Mercantile Trust Co. bought a new position in shares of Wingstop during the first quarter valued at approximately $209,000. Miles Capital Inc. bought a new position in shares of Wingstop during the first quarter valued at approximately $216,000. Magnus Financial Group LLC bought a new position in shares of Wingstop during the first quarter valued at approximately $221,000. Finally, Janus Henderson Group PLC bought a new position in shares of Wingstop during the first quarter valued at approximately $224,000.

WING traded up $0.21 during trading on Thursday, reaching $98.12. The stock had a trading volume of 139,425 shares, compared to its average volume of 500,572. The firm’s 50 day simple moving average is $95.59. The company has a market capitalization of $2.86 billion, a P/E ratio of 116.81, a price-to-earnings-growth ratio of 6.83 and a beta of 0.84. Wingstop Inc has a one year low of $56.95 and a one year high of $101.70.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Thursday, August 1st. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $48.56 million during the quarter, compared to the consensus estimate of $47.53 million. Wingstop had a negative return on equity of 11.09% and a net margin of 11.54%. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 earnings per share. On average, equities research analysts predict that Wingstop Inc will post 0.73 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.11 dividend. This is an increase from Wingstop’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, August 29th. This represents a $0.44 dividend on an annualized basis and a yield of 0.45%. Wingstop’s dividend payout ratio is 42.86%.

WING has been the subject of a number of recent analyst reports. Goldman Sachs Group initiated coverage on Wingstop in a report on Monday, July 29th. They set a “buy” rating and a $135.00 target price for the company. Zacks Investment Research downgraded Wingstop from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Stifel Nicolaus upped their target price on Wingstop from $92.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Northcoast Research initiated coverage on Wingstop in a report on Tuesday, July 30th. They set a “sell” rating for the company. Finally, Piper Jaffray Companies upped their target price on Wingstop from $88.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Wingstop has an average rating of “Hold” and an average price target of $89.93.

In other Wingstop news, insider Maurice Cooper sold 380 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Hislop sold 5,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $93.74, for a total value of $468,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,846 shares of company stock valued at $1,060,821. 1.00% of the stock is owned by corporate insiders.

About Wingstop

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.

Read More: Insider Trading

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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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