Wingstop (NASDAQ:WING) Price Target Increased to $398.00 by Analysts at Citigroup

Wingstop (NASDAQ:WING) had its target price hoisted by Citigroup from $375.00 to $398.00 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Other research analysts have also issued reports about the company. Truist Financial upped their price objective on Wingstop from $320.00 to $345.00 and gave the company a hold rating in a report on Thursday. Wedbush upped their price target on shares of Wingstop from $400.00 to $425.00 and gave the company an outperform rating in a research note on Thursday. Barclays lifted their price objective on shares of Wingstop from $350.00 to $418.00 and gave the stock an overweight rating in a research note on Thursday. Sanford C. Bernstein began coverage on shares of Wingstop in a research report on Wednesday, February 14th. They set an outperform rating and a $340.00 target price on the stock. Finally, Jefferies Financial Group lifted their price target on shares of Wingstop from $310.00 to $335.00 and gave the company a hold rating in a research report on Tuesday, April 16th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $330.39.

Wingstop Stock Performance

Shares of WING stock traded up $7.01 during midday trading on Thursday, hitting $388.55. 504,433 shares of the company were exchanged, compared to its average volume of 487,441. Wingstop has a 52 week low of $150.08 and a 52 week high of $396.00. The firm has a market capitalization of $11.41 billion, a P/E ratio of 135.78, a PEG ratio of 6.60 and a beta of 1.67. The firm’s 50 day moving average price is $359.50 and its two-hundred day moving average price is $286.56.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.22. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The firm had revenue of $145.70 million during the quarter, compared to the consensus estimate of $136.34 million. During the same period last year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. Analysts expect that Wingstop will post 3.03 EPS for the current year.

Wingstop Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 0.23%. Wingstop’s dividend payout ratio is currently 31.32%.

Insider Activity at Wingstop

In other news, CEO Michael Skipworth sold 10,843 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the sale, the chief executive officer now directly owns 17,107 shares in the company, valued at approximately $5,771,901.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Kilandigalu Madati sold 1,472 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $339.87, for a total transaction of $500,288.64. Following the sale, the director now owns 5,450 shares in the company, valued at approximately $1,852,291.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the completion of the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The disclosure for this sale can be found here. Insiders have sold 14,901 shares of company stock valued at $5,120,605 over the last ninety days. 0.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Congress Asset Management Co. MA boosted its position in Wingstop by 0.3% during the 4th quarter. Congress Asset Management Co. MA now owns 11,380 shares of the restaurant operator’s stock worth $2,920,000 after buying an additional 34 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Wingstop by 16.9% during the fourth quarter. Quadrant Capital Group LLC now owns 263 shares of the restaurant operator’s stock valued at $67,000 after acquiring an additional 38 shares during the last quarter. Kovack Advisors Inc. raised its stake in shares of Wingstop by 1.7% during the fourth quarter. Kovack Advisors Inc. now owns 2,319 shares of the restaurant operator’s stock valued at $595,000 after acquiring an additional 39 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Wingstop by 53.3% during the first quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 40 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of Wingstop by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 13,150 shares of the restaurant operator’s stock worth $2,365,000 after purchasing an additional 60 shares during 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.