California State Teachers Retirement System Sells 775 Shares of Wingstop Inc. $WING

California State Teachers Retirement System decreased its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,578 shares of the restaurant operator's stock after selling 775 shares during the quarter. California State Teachers Retirement System owned 0.12% of Wingstop worth $5,475,941 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. AlphaGrep UK Ltd acquired a new stake in shares of Wingstop in the 2nd quarter worth about $338,000. Nykredit A S bought a new position in Wingstop in the 2nd quarter worth $152,000. Quantitative Investment Management LLC bought a new stake in shares of Wingstop in the 2nd quarter valued at approximately $386,000. Moore Capital Management LP bought a new position in Wingstop during the 2nd quarter worth about $1,734,000. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Wingstop by 44.5% during the second quarter. Alyeska Investment Group L.P. now owns 942,943 shares of the restaurant operator's stock worth $163,516,000 after purchasing an additional 290,501 shares during the period.

Wingstop Stock Down 12.2%

NASDAQ:WING traded down $13.95 during mid-day trading on Tuesday, reaching $100.76. The company's stock had a trading volume of 1,765,092 shares, compared to its average volume of 1,171,491. The firm has a market capitalization of $2.74 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.79. Wingstop Inc. has a 1 year low of $100.40 and a 1 year high of $302.80. The stock has a fifty day moving average of $125.81 and a 200-day moving average of $155.18.

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, topping analysts' consensus estimates 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 company's quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $1.00 EPS. On average, analysts expect that Wingstop Inc. will post 4.5 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Wingstop's previous quarterly dividend of $0.30. Wingstop's payout ratio is 31.35%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Mizuho reduced their target price on shares of Wingstop from $280.00 to $240.00 and set an "outperform" rating on the stock in a report on Friday, July 24th. Stephens reaffirmed an "overweight" rating and issued a $200.00 price objective on shares of Wingstop in a research note on Thursday, July 30th. Royal Bank Of Canada decreased their target price on Wingstop from $225.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, July 30th. Weiss Ratings lowered shares of Wingstop from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, August 17th. Finally, TD Cowen decreased their price target on shares of Wingstop from $160.00 to $120.00 and set a "hold" rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $240.33.

Wingstop Company Profile

Wingstop Inc is a fast-casual restaurant company specializing in cooked-to-order chicken wings and tenders. Its menu also includes fries, seasoned fries, dipping sauces, and beverages, with offerings built around a range of signature flavors and sauces. The company primarily operates through a franchise-based model.

Wingstop was founded in 1994 in Garland, Texas, and has expanded from its original location into a global restaurant brand. Its restaurants serve customers across the United States and in international markets through a network of franchised and company-operated locations.

Wingstop became a publicly traded company in 2015.

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