OppenheimerFunds Inc. Acquires 44,742 Shares of Wingstop Inc (NASDAQ:WING)

OppenheimerFunds Inc. raised its holdings in shares of Wingstop Inc (NASDAQ:WING) by 9.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 517,626 shares of the restaurant operator’s stock after purchasing an additional 44,742 shares during the quarter. OppenheimerFunds Inc. owned 1.76% of Wingstop worth $39,355,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WING. Bank of America Corp DE boosted its holdings in Wingstop by 16.1% during the 4th quarter. Bank of America Corp DE now owns 171,701 shares of the restaurant operator’s stock worth $11,022,000 after acquiring an additional 23,781 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Wingstop by 26.8% during the 4th quarter. New York State Teachers Retirement System now owns 33,935 shares of the restaurant operator’s stock worth $2,178,000 after acquiring an additional 7,170 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Wingstop by 334.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,933 shares of the restaurant operator’s stock worth $573,000 after buying an additional 6,875 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Wingstop by 98.2% in the 4th quarter. Penserra Capital Management LLC now owns 163,416 shares of the restaurant operator’s stock worth $10,489,000 after buying an additional 80,947 shares during the last quarter. Finally, Lisanti Capital Growth LLC boosted its holdings in shares of Wingstop by 245.8% in the 4th quarter. Lisanti Capital Growth LLC now owns 60,615 shares of the restaurant operator’s stock worth $3,891,000 after buying an additional 43,085 shares during the last quarter.

In other news, insider Maurice Cooper sold 380 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $78.95, for a total transaction of $30,001.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Charles R. Morrison sold 20,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $69.10, for a total value of $1,382,000.00. Following the sale, the chairman now owns 128,998 shares in the company, valued at $8,913,761.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,678 shares of company stock worth $3,756,961. Company insiders own 1.00% of the company’s stock.

WING has been the topic of a number of research analyst reports. Guggenheim downgraded shares of Wingstop from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a report on Tuesday, April 2nd. BidaskClub downgraded shares of Wingstop from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 30th. Piper Jaffray Companies initiated coverage on shares of Wingstop in a report on Monday, May 13th. They issued an “overweight” rating and a $88.00 price target on the stock. BMO Capital Markets initiated coverage on shares of Wingstop in a report on Tuesday, March 26th. They issued an “outperform” rating and a $71.76 price target on the stock. Finally, Wedbush cut their price target on shares of Wingstop from $74.00 to $69.00 and set an “outperform” rating on the stock in a report on Thursday, February 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Wingstop presently has an average rating of “Buy” and a consensus target price of $72.05.

NASDAQ WING traded up $0.40 during trading on Wednesday, hitting $89.27. 10,353 shares of the company’s stock traded hands, compared to its average volume of 530,232. The company has a market cap of $2.66 billion, a PE ratio of 106.22, a price-to-earnings-growth ratio of 6.25 and a beta of 0.73. Wingstop Inc has a 12-month low of $47.83 and a 12-month high of $91.53.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Tuesday, May 7th. The restaurant operator reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The business had revenue of $48.05 million for the quarter, compared to the consensus estimate of $45.68 million. Wingstop had a net margin of 13.52% and a negative return on equity of 13.31%. The company’s revenue was up 28.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. As a group, equities research analysts expect that Wingstop Inc will post 0.74 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Thursday, June 6th. Wingstop’s dividend payout ratio (DPR) is presently 42.86%.

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Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.

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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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