Kornitzer Capital Management Inc. KS Trims Stake in Wingstop Inc. $WING

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 65.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,500 shares of the restaurant operator’s stock after selling 12,300 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Wingstop were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of WING. Baird Financial Group Inc. purchased a new stake in shares of Wingstop in the 1st quarter worth $256,000. Jones Financial Companies Lllp lifted its position in Wingstop by 2,770.6% during the first quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator’s stock valued at $440,000 after purchasing an additional 1,884 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Wingstop by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator’s stock valued at $20,852,000 after purchasing an additional 4,937 shares during the period. Geneos Wealth Management Inc. grew its holdings in Wingstop by 121.4% during the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after purchasing an additional 119 shares during the period. Finally, Sivia Capital Partners LLC increased its position in Wingstop by 45.5% in the second quarter. Sivia Capital Partners LLC now owns 1,387 shares of the restaurant operator’s stock worth $467,000 after buying an additional 434 shares in the last quarter.

Wingstop Trading Up 10.7%

Shares of WING opened at $126.12 on Friday. The business’s 50 day moving average is $146.16 and its 200 day moving average is $177.47. Wingstop Inc. has a 12-month low of $110.44 and a 12-month high of $345.81. The company has a market capitalization of $3.44 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 1.35 and a beta of 1.81.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, July 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 16.31% and a net margin of 16.15%.The business had revenue of $185.56 million during the quarter, compared to the consensus estimate of $190.25 million. During the same period in the prior year, the company posted $1.00 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts predict that Wingstop Inc. will post 4.5 earnings per share for the current year.

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 5th. Investors of record on Saturday, August 15th will be given a dividend of $0.33 per share. This is a positive change from Wingstop’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. Wingstop’s dividend payout ratio (DPR) is currently 28.50%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WING. Bank of America lowered their price objective on Wingstop from $264.00 to $234.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. UBS Group restated a “neutral” rating on shares of Wingstop in a research note on Tuesday, July 14th. TD Cowen reaffirmed a “hold” rating on shares of Wingstop in a report on Wednesday, July 29th. Wells Fargo & Company dropped their price target on shares of Wingstop from $170.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Finally, Guggenheim reduced their price objective on shares of Wingstop from $255.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $241.81.

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.