Michael Skipworth Sells 4,500 Shares of Wingstop Inc. (NASDAQ:WING) Stock

Key Points

• Wingstop CEO Michael Skipworth sold 4,500 shares of the company's stock at an average price of $370.34, totaling approximately $1.67 million, resulting in a 9.52% decrease in his ownership.
• In its latest quarterly earnings, Wingstop reported $1.00 earnings per share, exceeding expectations, and a revenue of $174.33 million, which is a 12% increase year-over-year.
• Wingstop announced an increase in its quarterly dividend from $0.27 to $0.30, translating to a 0.3% yield and a *dividend payout ratio of 18.09%*.

Wingstop Inc. (NASDAQ:WING - Get Free Report) CEO Michael Skipworth sold 4,500 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $1,666,530.00. Following the completion of the sale, the chief executive officer directly owned 42,777 shares of the company's stock, valued at $15,842,034.18. The trade was a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Michael Skipworth also recently made the following trade(s):

• On Tuesday, May 27th, Michael Skipworth sold 10,000 shares of Wingstop stock. The shares were sold at an average price of $337.34, for a total value of $3,373,400.00.

Wingstop Stock Performance

NASDAQ WING traded down $14.89 during trading hours on Friday, hitting $362.45. The company had a trading volume of 1,199,950 shares, compared to its average volume of 770,947. Wingstop Inc. has a 52 week low of $204.00 and a 52 week high of $433.86. The firm has a 50 day simple moving average of $340.50 and a 200 day simple moving average of $285.90. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 60.41, a PEG ratio of 5.05 and a beta of 1.84.

Wingstop (NASDAQ:WING - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.12. The company had revenue of $174.33 million for the quarter, compared to analysts' expectations of $172.60 million. Wingstop had a net margin of 25.61% and a negative return on equity of 17.07%. Wingstop's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.93 earnings per share. On average, research analysts forecast that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. This is a positive change from Wingstop's previous quarterly dividend of $0.27. The ex-dividend date is Friday, August 15th. Wingstop's dividend payout ratio (DPR) is currently 18.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WING shares. Wells Fargo & Company increased their price target on Wingstop from $375.00 to $415.00 and gave the company an "overweight" rating in a research report on Thursday. Gordon Haskett raised Wingstop to a "strong-buy" rating in a research report on Wednesday, April 30th. Robert W. Baird increased their price target on Wingstop from $350.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. BTIG Research increased their price target on Wingstop from $350.00 to $430.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Finally, Morgan Stanley increased their price target on Wingstop from $367.00 to $405.00 and gave the company an "overweight" rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $379.52.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WING. MassMutual Private Wealth & Trust FSB increased its position in shares of Wingstop by 93.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 128 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 62 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Wingstop by 106.9% during the 1st quarter. Signaturefd LLC now owns 149 shares of the restaurant operator's stock valued at $34,000 after buying an additional 77 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Wingstop by 62.1% during the 4th quarter. True Wealth Design LLC now owns 141 shares of the restaurant operator's stock valued at $40,000 after buying an additional 54 shares in the last quarter. Quarry LP purchased a new position in shares of Wingstop during the 4th quarter valued at about $41,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Wingstop during the 2nd quarter valued at about $43,000.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.

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