91,542 Shares in Wingstop Inc. $WING Bought by TimesSquare Capital Management LLC

Key Points

• TimesSquare Capital Management acquired 91,542 Wingstop shares worth approximately $15.9 million, representing about 0.34% of the company. Several other institutional investors also initiated positions during the second quarter.
• Wingstop reported quarterly EPS of $1.18, beating estimates of $1.02, while revenue rose 6.5% year over year to $185.56 million but came in below expectations.
• The company raised its quarterly dividend from $0.30 to $0.33 per share, implying an annualized dividend of $1.32 and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $241.81.

TimesSquare Capital Management LLC bought a new stake in Wingstop Inc. (NASDAQ:WING - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 91,542 shares of the restaurant operator's stock, valued at approximately $15,874,000. TimesSquare Capital Management LLC owned about 0.34% of Wingstop at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WING. Global Retirement Partners LLC purchased a new position in shares of Wingstop in the 2nd quarter worth about $62,000. Bank of New York Mellon Corp acquired a new position in shares of Wingstop in the 2nd quarter valued at about $80,456,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Wingstop during the 2nd quarter worth about $1,854,000. Daiwa Securities Group Inc. purchased a new stake in shares of Wingstop during the 2nd quarter worth about $919,000. Finally, Lecap Asset Management Ltd. acquired a new stake in Wingstop during the 2nd quarter worth approximately $360,000.

Wingstop Stock Performance

Wingstop stock opened at $115.72 on Tuesday. The firm has a market capitalization of $3.15 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 1.50 and a beta of 1.81. Wingstop Inc. has a one year low of $110.44 and a one year high of $345.81. The stock's 50 day moving average price is $145.61 and its 200 day moving average price is $175.67.

Wingstop (NASDAQ:WING - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.16. The company had revenue of $185.56 million during the quarter, compared to the consensus estimate of $190.25 million. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. Wingstop's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $1.00 earnings per share. On average, analysts forecast that Wingstop Inc. will post 4.5 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Investors of record on Saturday, August 15th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Wingstop's previous quarterly dividend of $0.30. Wingstop's dividend payout ratio (DPR) is 31.35%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WING. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Wingstop in a research report on Monday, August 3rd. DA Davidson cut their target price on shares of Wingstop from $200.00 to $190.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. UBS Group restated a "neutral" rating on shares of Wingstop in a report on Tuesday, July 14th. Bank of America decreased their price target on shares of Wingstop from $264.00 to $234.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Finally, Sanford C. Bernstein downgraded Wingstop from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $220.00 to $155.00 in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $241.81.

Wingstop Profile

Wingstop Inc NASDAQ: WING is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company's core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.

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