Bank of America Corp DE Has $39.63 Million Holdings in Wingstop Inc. $WING

Key Points

• Bank of America increased its Wingstop stake by 54.2% in the first quarter, holding 255,732 shares valued at approximately $39.63 million, or 0.94% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $241.81, although several firms recently lowered their targets.
• Wingstop reported quarterly EPS of $1.18, beating expectations, while revenue rose 6.5% year over year to $185.56 million. The company also raised its quarterly dividend to $0.33 per share.

Bank of America Corp DE increased its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 54.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 255,732 shares of the restaurant operator's stock after acquiring an additional 89,915 shares during the quarter. Bank of America Corp DE owned about 0.94% of Wingstop worth $39,631,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. SBI Securities Co. Ltd. grew its position in Wingstop by 76.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator's stock worth $33,000 after buying an additional 60 shares in the last quarter. Rakuten Securities Inc. raised its holdings in Wingstop by 197.9% in the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator's stock valued at $34,000 after acquiring an additional 95 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Wingstop by 75.7% during the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator's stock valued at $45,000 after acquiring an additional 81 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator's stock valued at $49,000 after acquiring an additional 119 shares during the period. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of Wingstop during the 4th quarter valued at $63,000.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company decreased their price target on Wingstop from $170.00 to $165.00 and set an "overweight" rating on the stock in a research report on Thursday, July 30th. DA Davidson cut their price objective on shares of Wingstop from $200.00 to $190.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Bank of America reduced their price objective on shares of Wingstop from $264.00 to $234.00 and set a "buy" rating on the stock in a research note on Wednesday, June 24th. Morgan Stanley decreased their target price on shares of Wingstop from $255.00 to $238.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Finally, Benchmark dropped their target price on shares of Wingstop from $285.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $241.81.

Wingstop Stock Up 1.6%

NASDAQ:WING opened at $113.90 on Friday. Wingstop Inc. has a twelve month low of $110.44 and a twelve month high of $345.81. The stock's 50-day simple moving average is $146.48 and its 200 day simple moving average is $177.83. The firm has a market capitalization of $3.10 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.81.

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

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 5th. Shareholders of record on Saturday, August 15th will be given a $0.33 dividend. This is an increase from Wingstop's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, August 14th. Wingstop's dividend payout ratio (DPR) is 28.50%.

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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