Atreides Management LP Purchases New Shares in Wingstop Inc. $WING

Atreides Management LP purchased a new stake in Wingstop Inc. (NASDAQ:WING) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 390,005 shares of the restaurant operator’s stock, valued at approximately $93,012,000. Wingstop makes up 1.1% of Atreides Management LP’s portfolio, making the stock its 18th largest holding. Atreides Management LP owned 1.40% of Wingstop at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its holdings in shares of Wingstop by 76.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after buying an additional 60 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Wingstop by 197.9% during the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 95 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Wingstop by 75.7% during the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock valued at $45,000 after buying an additional 81 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in shares of Wingstop during the 3rd quarter valued at $47,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after buying an additional 119 shares in the last quarter.

Wingstop Price Performance

WING opened at $150.05 on Thursday. The stock has a 50-day moving average price of $156.83 and a 200-day moving average price of $210.59. The firm has a market cap of $4.09 billion, a PE ratio of 37.33, a P/E/G ratio of 1.81 and a beta of 1.82. Wingstop Inc. has a 1 year low of $116.35 and a 1 year high of $381.45.

Wingstop (NASDAQ:WING) last posted its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $183.73 million during the quarter, compared to analyst estimates of $187.82 million. During the same quarter in the previous year, the firm earned $0.99 EPS. Wingstop’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wingstop Inc. will post 4.59 EPS for the current year.

Wingstop Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.8%. Wingstop’s payout ratio is 29.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WING. Citigroup dropped their target price on shares of Wingstop from $230.00 to $229.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Morgan Stanley restated an “overweight” rating and set a $255.00 target price on shares of Wingstop in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Wingstop from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Barclays dropped their target price on shares of Wingstop from $330.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, Mizuho set a $280.00 target price on shares of Wingstop in a report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Wingstop has an average rating of “Moderate Buy” and a consensus target price of $268.70.

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.