Wingstop Inc. (NASDAQ:WING) Announces $0.17 Quarterly Dividend

Wingstop Inc. (NASDAQ:WINGGet Rating) announced a quarterly dividend on Wednesday, May 4th, Zacks reports. Stockholders of record on Friday, May 20th will be paid a dividend of 0.17 per share by the restaurant operator on Friday, June 10th. This represents a $0.68 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, May 19th.

Wingstop has decreased its dividend by an average of 54.4% per year over the last three years and has increased its dividend every year for the last 4 years. Wingstop has a dividend payout ratio of 34.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Wingstop to earn $1.93 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 35.2%.

Shares of WING stock opened at $87.95 on Friday. Wingstop has a one year low of $82.00 and a one year high of $187.35. The firm has a 50-day moving average of $113.56 and a 200-day moving average of $144.92. The company has a market cap of $2.63 billion, a P/E ratio of 68.71, a P/E/G ratio of 5.26 and a beta of 1.40.

Wingstop (NASDAQ:WINGGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Wingstop had a negative return on equity of 12.62% and a net margin of 15.10%. The company had revenue of $76.20 million for the quarter, compared to analysts’ expectations of $86.16 million. During the same quarter last year, the business posted $0.44 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Wingstop will post 1.54 earnings per share for the current year.

A number of analysts recently issued reports on WING shares. Royal Bank of Canada decreased their price objective on shares of Wingstop from $170.00 to $156.00 and set a “sector perform” rating for the company in a report on Thursday, February 17th. Cowen decreased their price objective on shares of Wingstop from $135.00 to $120.00 in a report on Thursday. TheStreet lowered shares of Wingstop from a “b-” rating to a “c+” rating in a research report on Tuesday, February 22nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wingstop from $168.00 to $100.00 in a research report on Thursday. Finally, Northcoast Research upgraded shares of Wingstop from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Wingstop has a consensus rating of “Buy” and an average price target of $156.16.

In related news, CEO Charles R. Morrison sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $136.50, for a total value of $136,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Donnie Upshaw sold 780 shares of the firm’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $154.75, for a total transaction of $120,705.00. The disclosure for this sale can be found here. Insiders sold 8,835 shares of company stock valued at $1,300,835 over the last 90 days. 0.64% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in WING. Morgan Stanley raised its stake in shares of Wingstop by 50.7% during the second quarter. Morgan Stanley now owns 167,721 shares of the restaurant operator’s stock worth $26,438,000 after acquiring an additional 56,450 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Wingstop by 0.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 114,937 shares of the restaurant operator’s stock worth $19,861,000 after acquiring an additional 904 shares in the last quarter. Millennium Management LLC raised its stake in shares of Wingstop by 33.1% during the fourth quarter. Millennium Management LLC now owns 90,963 shares of the restaurant operator’s stock worth $15,718,000 after acquiring an additional 22,617 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Wingstop by 5.8% during the fourth quarter. Parametric Portfolio Associates LLC now owns 66,585 shares of the restaurant operator’s stock worth $11,506,000 after acquiring an additional 3,669 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Wingstop by 23.0% during the fourth quarter. Barclays PLC now owns 47,597 shares of the restaurant operator’s stock worth $8,225,000 after acquiring an additional 8,886 shares in the last quarter.

Wingstop Company Profile (Get Rating)

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.

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Dividend History for Wingstop (NASDAQ:WING)

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