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

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

Wingstop has raised its dividend by an average of 17.9% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Wingstop has a payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of Wingstop stock traded up $5.42 during trading on Thursday, reaching $389.40. 47,126 shares of the stock traded hands, compared to its average volume of 479,753. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 164.89, a P/E/G ratio of 6.61 and a beta of 1.67. The business has a fifty day simple moving average of $358.55 and a two-hundred day simple moving average of $285.89. Wingstop has a 52-week low of $150.08 and a 52-week high of $396.00.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Wingstop had a net margin of 15.25% and a negative return on equity of 17.66%. The firm had revenue of $127.06 million during the quarter, compared to the consensus estimate of $120.47 million. During the same quarter last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, research analysts predict that Wingstop will post 3.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WING. Sanford C. Bernstein began coverage on shares of Wingstop in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $340.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Wingstop from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Truist Financial reaffirmed a “hold” rating and set a $292.00 price target on shares of Wingstop in a research note on Monday, April 1st. BMO Capital Markets lifted their price target on shares of Wingstop from $235.00 to $275.00 and gave the company a “market perform” rating in a research note on Thursday, February 22nd. Finally, Wedbush lifted 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. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Wingstop presently has an average rating of “Hold” and a consensus price target of $299.17.

Insider Activity at Wingstop

In other Wingstop news, SVP Marisa Carona sold 2,586 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were 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 $612,246.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Marisa Carona sold 2,586 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $371.96, for a total transaction of $961,888.56. Following the completion of the sale, the senior vice president now owns 1,646 shares of the company’s stock, valued at $612,246.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of the business’s 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 sale, the chief executive officer now directly 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. Insiders sold 14,901 shares of company stock worth $5,120,605 over the last three months. Company 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.