Two Creeks Capital Management LP Has $39.88 Million Holdings in Wingstop Inc. $WING

Two Creeks Capital Management LP lessened its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 15.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,465 shares of the restaurant operator’s stock after selling 28,346 shares during the quarter. Wingstop accounts for approximately 2.9% of Two Creeks Capital Management LP’s portfolio, making the stock its 20th largest position. Two Creeks Capital Management LP owned about 0.57% of Wingstop worth $39,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC grew its holdings in shares of Wingstop by 1,650.0% in the third quarter. Cornerstone Planning Group LLC now owns 105 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 99 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in Wingstop by 54.3% during the third quarter. CBIZ Investment Advisory Services LLC now owns 142 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 50 shares during the period. Pinnacle Holdings LLC purchased a new position in Wingstop in the third quarter worth $47,000. Geneos Wealth Management Inc. grew its stake in Wingstop by 121.4% in the 1st 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, Smartleaf Asset Management LLC increased its position in shares of Wingstop by 75.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 204 shares of the restaurant operator’s stock valued at $51,000 after purchasing an additional 88 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently commented on WING. Citigroup lifted their target price on Wingstop from $267.00 to $286.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. BTIG Research restated a “buy” rating and set a $400.00 price objective on shares of Wingstop in a report on Thursday, February 19th. Wolfe Research assumed coverage on shares of Wingstop in a research note on Monday, March 9th. They issued an “outperform” rating and a $320.00 target price on the stock. DA Davidson assumed coverage on shares of Wingstop in a research note on Friday, March 6th. They set a “buy” rating and a $330.00 price target for the company. Finally, Benchmark reiterated a “buy” rating on shares of Wingstop in a research note on Thursday, February 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $337.29.

Wingstop Stock Performance

WING stock opened at $203.44 on Friday. The company has a market capitalization of $5.59 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 2.11 and a beta of 1.82. Wingstop Inc. has a one year low of $192.87 and a one year high of $388.14. The company’s 50 day moving average price is $255.95 and its two-hundred day moving average price is $257.28.

Wingstop (NASDAQ:WING) last released its quarterly earnings data on Wednesday, February 18th. The restaurant operator reported $1.00 EPS for the quarter, topping the consensus estimate of $0.84 by $0.16. Wingstop had a negative return on equity of 16.12% and a net margin of 25.01%.The firm had revenue of $175.69 million for the quarter, compared to the consensus estimate of $177.74 million. During the same quarter in the previous year, the business earned $0.92 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts predict that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, March 6th. Wingstop’s dividend payout ratio is currently 19.42%.

Insider Transactions at Wingstop

In other Wingstop news, Director Kilandigalu Madati sold 2,700 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total value of $703,971.00. Following the completion of the sale, the director owned 2,583 shares in the company, valued at approximately $673,465.59. This trade represents a 51.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wesley S. Mcdonald sold 566 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $250.00, for a total transaction of $141,500.00. Following the transaction, the director owned 4,375 shares in the company, valued at $1,093,750. This represents a 11.46% decrease in their position. The SEC filing for this sale provides additional information. 0.72% of the stock is owned by insiders.

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.