Wingstop Inc. (NASDAQ:WING) Declares $0.22 Quarterly Dividend

Wingstop Inc. (NASDAQ:WING) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Friday, May 17th will be given a dividend of 0.22 per share by the restaurant operator on Friday, June 7th. This represents a $0.88 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, May 16th.

Wingstop has increased its dividend by an average of 17.9% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Wingstop has a dividend payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Wingstop to earn $3.69 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 23.8%.

Wingstop Trading Up 0.1 %

WING stock traded up $0.47 during midday trading on Thursday, hitting $384.45. 108,476 shares of the company’s stock were exchanged, compared to its average volume of 480,214. Wingstop has a 12-month low of $150.08 and a 12-month high of $396.00. The firm has a 50 day moving average price of $358.55 and a 200-day moving average price of $285.89. The stock has a market capitalization of $11.29 billion, a price-to-earnings ratio of 162.42, a price-to-earnings-growth ratio of 6.61 and a beta of 1.67.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. Wingstop had a negative return on equity of 17.66% and a net margin of 15.25%. The company had revenue of $127.06 million for the quarter, compared to the consensus estimate of $120.47 million. During the same period in the previous year, the business earned $0.60 EPS. Wingstop’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, sell-side analysts forecast that Wingstop will post 3.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Benchmark reiterated a “hold” rating on shares of Wingstop in a report on Thursday. Truist Financial boosted their price target on Wingstop from $320.00 to $345.00 and gave the company a “hold” rating in a report on Thursday. Robert W. Baird boosted their price target on Wingstop from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday. Wedbush boosted their price objective on Wingstop from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Sanford C. Bernstein initiated coverage on Wingstop in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $340.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $302.11.

Insider Activity

In other news, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Wingstop news, SVP Marisa Carona sold 2,586 shares of Wingstop stock in a transaction on Friday, March 8th. The stock was sold at an average price of $371.96, for a total value of $961,888.56. Following the completion of the transaction, the senior vice president now owns 1,646 shares in the company, valued at approximately $612,246.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction 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 completion of the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,901 shares of company stock valued at $5,120,605. Insiders own 0.36% of the company’s stock.

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.