Oppenheimer Asset Management Inc. Invests $1.85 Million in Wingstop Inc. $WING

Key Points

• Oppenheimer Asset Management acquired 10,694 Wingstop shares worth approximately $1.85 million during the second quarter, while several other institutional investors also increased their holdings.
• Analysts maintain a generally positive outlook, with Wingstop receiving a consensus “Moderate Buy” rating and an average price target of $241.81, despite several recent target-price reductions.
• Wingstop reported quarterly EPS of $1.18, beating estimates, while revenue rose 6.5% year over year. The company also increased its quarterly dividend to $0.33 per share, representing a 1.0% annualized yield.

Oppenheimer Asset Management Inc. acquired a new stake in Wingstop Inc. (NASDAQ:WING - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,694 shares of the restaurant operator's stock, valued at approximately $1,854,000.

A number of other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in Wingstop by 2.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,111,089 shares of the restaurant operator's stock worth $503,475,000 after buying an additional 58,386 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Wingstop by 6.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,173,613 shares of the restaurant operator's stock valued at $279,895,000 after buying an additional 70,224 shares during the period. Steadfast Capital Management LP boosted its position in Wingstop by 296.2% in the 3rd quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator's stock valued at $239,227,000 after buying an additional 710,621 shares during the period. Janus Henderson Group PLC grew its stake in shares of Wingstop by 18.3% in the first quarter. Janus Henderson Group PLC now owns 798,616 shares of the restaurant operator's stock worth $123,761,000 after acquiring an additional 123,315 shares in the last quarter. Finally, Wasatch Advisors LP grew its stake in shares of Wingstop by 59.2% in the first quarter. Wasatch Advisors LP now owns 572,082 shares of the restaurant operator's stock worth $88,656,000 after acquiring an additional 212,730 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WING. Bank of America reduced their price objective on Wingstop from $264.00 to $234.00 and set a "buy" rating on the stock in a research note on Wednesday, June 24th. UBS Group reissued a "neutral" rating on shares of Wingstop in a research note on Tuesday, July 14th. Morgan Stanley lowered their target price on Wingstop from $255.00 to $238.00 and set an "overweight" rating for the company in a research note on Thursday, July 30th. Weiss Ratings restated a "hold (c-)" rating on shares of Wingstop in a report on Monday, August 3rd. Finally, BTIG Research reduced their price target on Wingstop from $305.00 to $265.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. One investment 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $241.81.

Wingstop Stock Performance

Shares of WING opened at $126.12 on Monday. Wingstop Inc. has a twelve month low of $110.44 and a twelve month high of $345.81. The firm's fifty day simple moving average is $146.16 and its 200-day simple moving average is $176.79. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.50 and a beta of 1.81.

Wingstop (NASDAQ:WING - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $185.56 million during the quarter, compared to analysts' expectations of $190.25 million. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. On average, analysts predict that Wingstop Inc. will post 4.5 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Shareholders of record on Saturday, August 15th will be issued a dividend of $0.33 per share. This is a positive change 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 1.0%. Wingstop's dividend payout ratio (DPR) is presently 31.35%.

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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