Bank of New York Mellon Corp Purchases 230,289 Shares of Wingstop Inc. $WING

Bank of New York Mellon Corp lifted its holdings in Wingstop Inc. (NASDAQ:WING) by 110.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 438,913 shares of the restaurant operator’s stock after buying an additional 230,289 shares during the quarter. Bank of New York Mellon Corp’s holdings in Wingstop were worth $104,676,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its position in shares of Wingstop by 76.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 60 shares in the last quarter. Rakuten Securities Inc. raised its holdings in Wingstop by 197.9% in the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock worth $34,000 after buying an additional 95 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Wingstop by 54.3% in the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock worth $36,000 after buying an additional 50 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in shares of Wingstop during the third quarter valued at approximately $47,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Wingstop by 121.4% in the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 119 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WING. Wall Street Zen raised Wingstop from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. DA Davidson reaffirmed a “buy” rating and issued a $250.00 target price on shares of Wingstop in a research report on Monday, April 20th. Morgan Stanley reissued an “overweight” rating and issued a $255.00 target price on shares of Wingstop in a report on Thursday, April 30th. Benchmark dropped their target price on Wingstop from $320.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, Truist Financial set a $374.00 target price on shares of Wingstop and gave the company a “buy” rating in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $276.61.

Wingstop Stock Performance

NASDAQ WING opened at $142.23 on Monday. The stock’s 50 day moving average is $156.95 and its 200 day moving average is $215.75. Wingstop Inc. has a 12 month low of $116.35 and a 12 month high of $388.14. The stock has a market cap of $3.87 billion, a PE ratio of 35.38, a P/E/G ratio of 1.59 and a beta of 1.82.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. The business had revenue of $183.73 million during the quarter, compared to analyst estimates of $187.82 million. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $0.99 EPS. On average, analysts forecast that Wingstop Inc. will post 4.59 EPS for the current fiscal year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 15th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. Wingstop’s payout ratio is currently 29.85%.

Wingstop Company Profile

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.