Wingstop (NASDAQ:WING) Stock Price Down 8.1% – Here’s Why

Wingstop Inc. (NASDAQ:WING)’s share price traded down 8.1% during trading on Wednesday . The stock traded as low as $135.77 and last traded at $138.78. 124,496 shares changed hands during trading, a decline of 89% from the average session volume of 1,144,370 shares. The stock had previously closed at $151.00.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Wingstop from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Barclays dropped their price objective on Wingstop from $330.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Stifel Nicolaus lowered their target price on Wingstop from $325.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Morgan Stanley reiterated an “overweight” rating and set a $255.00 target price on shares of Wingstop in a report on Thursday, April 30th. Finally, Stephens reiterated an “overweight” rating and set a $225.00 target price on shares of Wingstop in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $277.68.

Wingstop Stock Performance

The company has a market cap of $3.93 billion, a P/E ratio of 35.94, a PEG ratio of 1.61 and a beta of 1.82. The company has a fifty day moving average price of $157.44 and a two-hundred day moving average price of $216.35.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating 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 $183.73 million during the quarter, compared to analysts’ expectations of $187.82 million. During the same quarter last year, the company earned $0.99 EPS. Wingstop’s revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts anticipate that Wingstop Inc. will post 4.59 EPS for the current year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, May 15th. Wingstop’s dividend payout ratio (DPR) is 29.85%.

Institutional Investors Weigh In On Wingstop

Several hedge funds have recently bought and sold shares of WING. Lone Pine Capital LLC acquired a new stake in Wingstop in the 3rd quarter valued at about $375,317,000. Steadfast Capital Management LP lifted its stake in Wingstop by 296.2% in the 3rd quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock valued at $239,227,000 after purchasing an additional 710,621 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Wingstop by 48.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator’s stock valued at $335,292,000 after purchasing an additional 456,861 shares during the last quarter. Capital World Investors lifted its stake in Wingstop by 160.6% in the 3rd quarter. Capital World Investors now owns 740,896 shares of the restaurant operator’s stock valued at $186,469,000 after purchasing an additional 456,637 shares during the last quarter. Finally, Atreides Management LP acquired a new stake in Wingstop in the 4th quarter valued at about $93,012,000.

About Wingstop

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.