Wingstop (NASDAQ:WING) Stock Price Down 3.7% - Here's Why

Wingstop Inc. (NASDAQ:WING - Get Free Report) dropped 3.7% on Thursday . The company traded as low as $343.32 and last traded at $342.80. Approximately 272,081 shares were traded during trading, a decline of 58% from the average daily volume of 644,777 shares. The stock had previously closed at $356.09.

Analyst Ratings Changes

A number of research analysts have issued reports on WING shares. Wells Fargo & Company boosted their price target on Wingstop from $320.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Robert W. Baird raised their price objective on shares of Wingstop from $350.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Barclays reiterated an "overweight" rating and issued a $410.00 target price (up from $360.00) on shares of Wingstop in a research note on Thursday. Cowen reissued a "buy" rating on shares of Wingstop in a report on Thursday, May 1st. Finally, TD Securities reaffirmed a "buy" rating and issued a $440.00 price objective on shares of Wingstop in a report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $362.26.

Wingstop Stock Down 3.6%

The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 57.52, a PEG ratio of 5.09 and a beta of 1.88. The company's 50-day moving average price is $308.46 and its 200-day moving average price is $279.43.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.15. Wingstop had a negative return on equity of 18.85% and a net margin of 26.45%. The company had revenue of $171.09 million during the quarter, compared to the consensus estimate of $172.25 million. During the same period in the previous year, the business earned $0.98 EPS. Wingstop's revenue for the quarter was up 17.4% on a year-over-year basis. On average, sell-side analysts predict that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.08 annualized dividend and a yield of 0.31%. Wingstop's dividend payout ratio is currently 18.09%.

Insiders Place Their Bets

In related news, SVP Raj Kapoor sold 637 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $273.07, for a total transaction of $173,945.59. Following the transaction, the senior vice president now owns 517 shares in the company, valued at $141,177.19. This trade represents a 55.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Skipworth sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $337.34, for a total value of $3,373,400.00. Following the completion of the sale, the chief executive officer now owns 47,190 shares of the company's stock, valued at approximately $15,919,074.60. This represents a 17.49% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Strs Ohio purchased a new position in shares of Wingstop during the first quarter worth about $11,279,000. Geneos Wealth Management Inc. grew its stake in shares of Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator's stock valued at $49,000 after purchasing an additional 119 shares during 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 valued at $20,852,000 after purchasing an additional 4,937 shares during the period. United Services Automobile Association acquired a new position in shares of Wingstop in the first quarter valued at approximately $429,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Wingstop by 2,770.6% during the first quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator's stock worth $440,000 after purchasing an additional 1,884 shares during the last quarter.

Wingstop Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.