Bank of New York Mellon Corp Buys 49,300 Shares of Wingstop Inc. $WING

Bank of New York Mellon Corp boosted its stake in shares of Wingstop Inc. (NASDAQ:WING) by 11.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 488,213 shares of the restaurant operator’s stock after acquiring an additional 49,300 shares during the period. Bank of New York Mellon Corp’s holdings in Wingstop were worth $75,658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vident Advisory LLC lifted its stake in Wingstop by 3.9% in the 4th quarter. Vident Advisory LLC now owns 959 shares of the restaurant operator’s stock worth $229,000 after purchasing an additional 36 shares in the last quarter. YANKCOM Partnership grew its position in shares of Wingstop by 10.1% during the fourth quarter. YANKCOM Partnership now owns 426 shares of the restaurant operator’s stock valued at $102,000 after purchasing an additional 39 shares in the last quarter. Allworth Financial LP grew its position in shares of Wingstop by 17.3% during the third quarter. Allworth Financial LP now owns 265 shares of the restaurant operator’s stock valued at $67,000 after purchasing an additional 39 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Wingstop by 1.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,628 shares of the restaurant operator’s stock worth $627,000 after purchasing an additional 45 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Wingstop by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 5,672 shares of the restaurant operator’s stock worth $879,000 after purchasing an additional 59 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on WING. UBS Group reiterated a “neutral” rating on shares of Wingstop in a research report on Tuesday, July 14th. Stephens set a $200.00 price objective on Wingstop in a research note on Tuesday. Bank of America reduced their price objective on Wingstop from $264.00 to $234.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Barclays decreased their price objective on Wingstop from $330.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, Weiss Ratings downgraded Wingstop from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $259.15.

Wingstop Trading Down 4.4%

Shares of NASDAQ:WING opened at $134.95 on Wednesday. Wingstop Inc. has a 12 month low of $116.35 and a 12 month high of $381.45. The company has a 50-day moving average price of $150.95 and a 200 day moving average price of $194.79. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 1.68 and a beta of 1.79.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.The company had revenue of $183.72 million for the quarter, compared to analysts’ expectations of $187.82 million. During the same period in the previous year, the firm posted $0.99 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities analysts forecast that Wingstop Inc. will post 4.57 EPS for the current year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 15th were issued a $0.30 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.9%. Wingstop’s payout ratio is 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.