Wingstop Inc. $WING Shares Sold by Copeland Capital Management LLC

Key Points

• Copeland Capital Management trimmed its Wingstop stake by 3.3% in Q1, selling 8,914 shares and ending the quarter with 263,116 shares valued at about $40.8 million.
• Wingstop reported better-than-expected earnings of $1.18 per share for the quarter, beating estimates by $0.16, though revenue of $183.72 million came in slightly below forecasts.
• Analyst sentiment remains constructive overall: the stock has a Moderate Buy consensus rating with a target price of $260.07, even after some firms cut targets and Goldman Sachs downgraded the shares to neutral.

Copeland Capital Management LLC lowered its stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 3.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 263,116 shares of the restaurant operator's stock after selling 8,914 shares during the period. Copeland Capital Management LLC owned 0.97% of Wingstop worth $40,775,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vident Advisory LLC raised its stake in Wingstop by 3.9% during the fourth quarter. Vident Advisory LLC now owns 959 shares of the restaurant operator's stock worth $229,000 after purchasing an additional 36 shares during the period. YANKCOM Partnership raised its position in shares of Wingstop by 10.1% during the 4th quarter. YANKCOM Partnership now owns 426 shares of the restaurant operator's stock valued at $102,000 after buying an additional 39 shares during the period. Allworth Financial LP lifted its holdings in Wingstop by 17.3% in the third quarter. Allworth Financial LP now owns 265 shares of the restaurant operator's stock valued at $67,000 after acquiring an additional 39 shares during the last quarter. Quadrant Capital Group LLC grew its position in Wingstop by 1.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,628 shares of the restaurant operator's stock worth $627,000 after acquiring an additional 45 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in Wingstop by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 5,672 shares of the restaurant operator's stock worth $879,000 after acquiring an additional 59 shares during the period.

Wingstop Stock Performance

Shares of WING opened at $142.33 on Friday. The company's 50-day simple moving average is $150.45 and its 200-day simple moving average is $196.55. Wingstop Inc. has a 1 year low of $116.35 and a 1 year high of $381.45. The stock has a market capitalization of $3.88 billion, a PE ratio of 35.41, a P/E/G ratio of 1.69 and a beta of 1.79.

Wingstop (NASDAQ:WING - Get Free Report) last announced its earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The firm had revenue of $183.72 million for the quarter, compared to the consensus estimate of $187.82 million. During the same period in the prior year, the firm earned $0.99 EPS. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts predict that Wingstop Inc. will post 4.57 earnings per share for the current year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 15th were issued a $0.30 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.8%. Wingstop's dividend payout ratio (DPR) is 29.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WING shares. The Goldman Sachs Group downgraded Wingstop from a "buy" rating to a "neutral" rating and reduced their target price for the company from $290.00 to $190.00 in a research report on Thursday, April 30th. Citigroup boosted their price objective on shares of Wingstop from $229.00 to $237.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Stephens reaffirmed an "overweight" rating and issued a $225.00 target price on shares of Wingstop in a research report on Thursday, June 4th. Raymond James Financial raised shares of Wingstop from an "outperform" rating to a "strong-buy" rating and lowered their target price for the stock from $325.00 to $240.00 in a research note on Thursday, April 2nd. Finally, Benchmark reduced their price target on shares of Wingstop from $320.00 to $285.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $260.07.

Wingstop 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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