The Manufacturers Life Insurance Company Purchases New Stake in Wingstop Inc. $WING

The Manufacturers Life Insurance Company acquired a new position in Wingstop Inc. (NASDAQ:WING - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,954 shares of the restaurant operator's stock, valued at approximately $3,287,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Wingstop as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Wingstop during the 2nd quarter worth $481,314,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Wingstop by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,111,089 shares of the restaurant operator's stock valued at $503,475,000 after purchasing an additional 58,386 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Wingstop by 6.4% in the fourth 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 purchasing an additional 70,224 shares during the period. Steadfast Capital Management LP boosted its holdings in Wingstop by 296.2% during the third quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator's stock worth $239,227,000 after buying an additional 710,621 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Wingstop by 18.3% during the first quarter. Janus Henderson Group PLC now owns 798,616 shares of the restaurant operator's stock worth $123,761,000 after buying an additional 123,315 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stephens reaffirmed an "overweight" rating and issued a $200.00 target price on shares of Wingstop in a report on Thursday, July 30th. Citigroup lowered their price target on Wingstop from $237.00 to $208.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Benchmark dropped their price objective on Wingstop from $285.00 to $245.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Mizuho reduced their price objective on Wingstop from $280.00 to $240.00 and set an "outperform" rating for the company in a report on Friday, July 24th. Finally, Wall Street Zen upgraded Wingstop from a "sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $241.81.

Wingstop Price Performance

Shares of WING opened at $109.60 on Wednesday. Wingstop Inc. has a 1-year low of $105.43 and a 1-year high of $330.42. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 1.30 and a beta of 1.79. The firm has a 50 day simple moving average of $136.29 and a 200-day simple moving average of $163.70.

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, beating analysts' consensus estimates of $1.02 by $0.16. The firm had revenue of $185.56 million for the quarter, compared to analyst estimates of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.Wingstop's revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. On average, equities analysts expect that Wingstop Inc. will post 4.5 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 5th. Stockholders 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 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, August 14th. Wingstop's dividend payout ratio (DPR) is currently 31.35%.

Wingstop Company 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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