Texas Permanent School Fund Has $1.23 Million Position in Wingstop Inc (WING)

Texas Permanent School Fund increased its holdings in Wingstop Inc (NASDAQ:WING) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,171 shares of the restaurant operator’s stock after acquiring an additional 751 shares during the period. Texas Permanent School Fund owned about 0.07% of Wingstop worth $1,231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Wingstop by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 516,297 shares of the restaurant operator’s stock worth $26,909,000 after purchasing an additional 20,377 shares during the period. First Trust Advisors LP raised its stake in Wingstop by 25.4% in the third quarter. First Trust Advisors LP now owns 126,287 shares of the restaurant operator’s stock valued at $8,622,000 after purchasing an additional 25,544 shares in the last quarter. Yorktown Management & Research Co Inc raised its stake in Wingstop by 10.3% in the third quarter. Yorktown Management & Research Co Inc now owns 11,036 shares of the restaurant operator’s stock valued at $753,000 after purchasing an additional 1,032 shares in the last quarter. Hartford Investment Management Co. raised its stake in shares of Wingstop by 86.5% during the third quarter. Hartford Investment Management Co. now owns 8,146 shares of the restaurant operator’s stock worth $556,000 after acquiring an additional 3,778 shares in the last quarter. Finally, Sapphire Star Partners LP raised its stake in shares of Wingstop by 5.4% during the third quarter. Sapphire Star Partners LP now owns 15,885 shares of the restaurant operator’s stock worth $1,084,000 after acquiring an additional 812 shares in the last quarter.

Several brokerages have recently issued reports on WING. Wedbush restated a “buy” rating and issued a $74.00 target price (up previously from $69.00) on shares of Wingstop in a report on Wednesday. Zacks Investment Research cut shares of Wingstop from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Finally, BidaskClub lowered Wingstop from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $66.14.

WING traded down $0.81 during trading on Friday, hitting $68.98. The company’s stock had a trading volume of 4,142 shares, compared to its average volume of 615,858. Wingstop Inc has a twelve month low of $45.53 and a twelve month high of $75.58. The firm has a market cap of $1.96 billion, a P/E ratio of 82.07, a PEG ratio of 4.37 and a beta of 0.87.

Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Wednesday, February 27th. The restaurant operator reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). Wingstop had a negative return on equity of 15.27% and a net margin of 14.18%. The firm had revenue of $40.51 million during the quarter, compared to analyst estimates of $40.82 million. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. On average, analysts anticipate that Wingstop Inc will post 0.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 13th will be given a $0.09 dividend. The ex-dividend date is Tuesday, March 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.52%. Wingstop’s dividend payout ratio is currently 42.86%.

In related news, insider Lawrence Kruguer sold 3,718 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $65.60, for a total transaction of $243,900.80. Following the completion of the transaction, the insider now directly owns 4,832 shares of the company’s stock, valued at approximately $316,979.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Morrison sold 20,000 shares of the business’s stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $66.33, for a total value of $1,326,600.00. Following the transaction, the chairman now directly owns 123,152 shares of the company’s stock, valued at $8,168,672.16. The disclosure for this sale can be found here. Insiders sold 32,700 shares of company stock worth $2,151,959 in the last 90 days. Company insiders own 1.70% of the company’s stock.

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Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.

Further Reading: Commodities

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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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