First Trust Advisors LP Sells 75,059 Shares of Wingstop Inc. $WING

Key Points

• First Trust Advisors LP cut its Wingstop stake by 94.2% in the first quarter, selling 75,059 shares and retaining 4,633 shares valued at approximately $718,000.
• 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 fell short of expectations.
• The company raised its quarterly dividend from $0.30 to $0.33 per share. Analysts maintain a “Moderate Buy” consensus, with an average price target of $241.81 despite several recent target-price cuts.

First Trust Advisors LP decreased its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 94.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,633 shares of the restaurant operator's stock after selling 75,059 shares during the period. First Trust Advisors LP's holdings in Wingstop were worth $718,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Baird Financial Group Inc. bought a new position in Wingstop during the first quarter worth about $256,000. Jones Financial Companies Lllp increased its holdings in shares of Wingstop by 2,770.6% in the first quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator's stock worth $440,000 after acquiring an additional 1,884 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Wingstop by 5.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator's stock worth $20,852,000 after acquiring an additional 4,937 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Wingstop by 121.4% during the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator's stock worth $49,000 after purchasing an additional 119 shares during the period. Finally, Sivia Capital Partners LLC raised its position in shares of Wingstop by 45.5% during the second quarter. Sivia Capital Partners LLC now owns 1,387 shares of the restaurant operator's stock worth $467,000 after purchasing an additional 434 shares during the period.

Wingstop Price Performance

WING opened at $111.36 on Wednesday. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 1.40 and a beta of 1.81. The business's 50-day moving average price is $147.73 and its two-hundred day moving average price is $180.04. Wingstop Inc. has a 1 year low of $110.44 and a 1 year high of $345.81.

Wingstop (NASDAQ:WING - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. The company had revenue of $185.56 million during the quarter, compared to analysts' expectations of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.Wingstop's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. Sell-side analysts anticipate 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. Shareholders of record on Saturday, August 15th will be given a dividend of $0.33 per share. This is an increase from Wingstop's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.2%. Wingstop's payout ratio is currently 28.50%.

Analyst Ratings Changes

Several research firms have recently weighed in on WING. Stephens reiterated an "overweight" rating and set a $200.00 price objective on shares of Wingstop in a report on Thursday, July 30th. TD Cowen reissued a "hold" rating on shares of Wingstop in a research note on Wednesday, July 29th. DA Davidson dropped their target price on shares of Wingstop from $200.00 to $190.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Guggenheim cut their price target on shares of Wingstop from $255.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, May 4th. Finally, Mizuho reduced their price target on shares of Wingstop from $280.00 to $240.00 and set an "outperform" rating for the company in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $241.81.

About Wingstop

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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