Wingstop (NASDAQ:WING) Price Target Lowered to $370.00 at The Goldman Sachs Group

Wingstop (NASDAQ:WING) had its price objective decreased by The Goldman Sachs Group from $430.00 to $370.00 in a research note published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the restaurant operator’s stock.

Several other analysts have also recently commented on the stock. BMO Capital Markets lifted their target price on shares of Wingstop from $275.00 to $345.00 and gave the stock a “market perform” rating in a research note on Thursday, July 31st. Guggenheim lifted their target price on shares of Wingstop from $325.00 to $410.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Wall Street Zen cut shares of Wingstop from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Stifel Nicolaus decreased their price target on shares of Wingstop from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, September 9th. Finally, Sanford C. Bernstein reissued an “overweight” rating and set a $440.00 price objective on shares of Wingstop in a research note on Thursday, July 31st. Four analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $376.92.

Wingstop Stock Performance

WING stock opened at $251.68 on Tuesday. The stock has a market capitalization of $7.03 billion, a P/E ratio of 41.95, a PEG ratio of 3.16 and a beta of 1.87. Wingstop has a one year low of $204.00 and a one year high of $425.00. The company has a 50 day moving average price of $306.32 and a two-hundred day moving average price of $296.23.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 EPS for the quarter, topping the consensus estimate of $0.88 by $0.12. The firm had revenue of $174.33 million during 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS. Research analysts forecast that Wingstop will post 4.18 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, August 15th. This is a positive change from Wingstop’s previous quarterly dividend of $0.27. Wingstop’s dividend payout ratio (DPR) is presently 20.00%.

Insider Activity at Wingstop

In related news, CFO Alex Kaleida sold 5,400 shares of Wingstop stock in a transaction on Friday, August 1st. The shares were sold at an average price of $376.09, for a total transaction of $2,030,886.00. Following the transaction, the chief financial officer owned 8,362 shares in the company, valued at approximately $3,144,864.58. The trade was a 39.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Skipworth sold 4,500 shares of Wingstop stock in a transaction on Friday, August 1st. The shares were sold at an average price of $370.34, for a total transaction of $1,666,530.00. Following the transaction, the chief executive officer owned 42,777 shares in the company, valued at $15,842,034.18. The trade was a 9.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,838 shares of company stock worth $8,118,535. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wingstop

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Wingstop by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator’s stock valued at $371,517,000 after purchasing an additional 496,717 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Wingstop by 23.3% in the 2nd quarter. American Century Companies Inc. now owns 1,557,383 shares of the restaurant operator’s stock valued at $524,433,000 after purchasing an additional 294,786 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Wingstop in the 1st quarter valued at about $212,672,000. Champlain Investment Partners LLC raised its stake in shares of Wingstop by 17.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 741,097 shares of the restaurant operator’s stock valued at $249,557,000 after purchasing an additional 109,108 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of Wingstop by 83.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 737,369 shares of the restaurant operator’s stock valued at $248,302,000 after purchasing an additional 334,583 shares in 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.