Engineers Gate Manager LP Has $1.26 Million Position in Wingstop Inc. $WING

Key Points

• Engineers Gate Manager LP cut its Wingstop stake by 76.9% in the second quarter, selling 24,181 shares and retaining 7,270 shares valued at approximately $1.26 million.
• Analyst sentiment remains generally positive, with Wingstop carrying a “Moderate Buy” consensus rating and an average price target of $238.48, despite several recent price-target reductions and one downgrade to “sell.”
• Wingstop reported quarterly EPS of $1.18, beating estimates of $1.02, while revenue rose 6.5% year over year to $185.56 million. The company also increased its quarterly dividend to $0.33 per share, yielding about 1.3% annually.

Engineers Gate Manager LP lessened its position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 76.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,270 shares of the restaurant operator's stock after selling 24,181 shares during the quarter. Engineers Gate Manager LP's holdings in Wingstop were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Nykredit A S acquired a new stake in Wingstop during the second quarter valued at approximately $152,000. Corient Private Wealth LP lifted its holdings in shares of Wingstop by 43.5% during the second quarter. Corient Private Wealth LP now owns 1,965 shares of the restaurant operator's stock valued at $341,000 after acquiring an additional 596 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Wingstop during the second quarter valued at $319,000. AlphaGrep UK Ltd bought a new position in shares of Wingstop during the second quarter valued at $338,000. Finally, Quantitative Investment Management LLC acquired a new stake in shares of Wingstop in the 2nd quarter valued at $386,000.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Wingstop from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, August 17th. Royal Bank Of Canada cut their price target on shares of Wingstop from $200.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday. Wells Fargo & Company dropped their price target on Wingstop from $170.00 to $165.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Robert W. Baird upgraded shares of Wingstop to a "strong-buy" rating in a research report on Monday, August 24th. Finally, Wall Street Zen raised shares of Wingstop from a "sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Wingstop has an average rating of "Moderate Buy" and a consensus price target of $238.48.

Wingstop Price Performance

Shares of NASDAQ:WING opened at $103.76 on Friday. Wingstop Inc. has a one year low of $100.13 and a one year high of $302.80. The company has a 50 day moving average of $122.20 and a 200-day moving average of $151.80. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 1.20 and a beta of 1.79.

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

Wingstop Increases Dividend

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

Wingstop 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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