Freestone Grove Partners LP Invests $26.22 Million in Wingstop Inc. (NASDAQ:WING)

Freestone Grove Partners LP bought a new position in shares of Wingstop Inc. (NASDAQ:WING) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 92,271 shares of the restaurant operator’s stock, valued at approximately $26,223,000.

Other institutional investors also recently bought and sold shares of the company. Comerica Bank grew its holdings in Wingstop by 1.7% during the 4th quarter. Comerica Bank now owns 66,471 shares of the restaurant operator’s stock valued at $18,891,000 after buying an additional 1,081 shares in the last quarter. AdvisorShares Investments LLC grew its holdings in shares of Wingstop by 160.8% in the fourth quarter. AdvisorShares Investments LLC now owns 3,072 shares of the restaurant operator’s stock valued at $873,000 after purchasing an additional 1,894 shares in the last quarter. Northern Trust Corp increased its position in Wingstop by 19.4% in the fourth quarter. Northern Trust Corp now owns 289,561 shares of the restaurant operator’s stock worth $82,293,000 after purchasing an additional 46,985 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new stake in Wingstop during the fourth quarter valued at $365,000. Finally, Quarry LP bought a new position in Wingstop during the fourth quarter valued at $41,000.

Wingstop Stock Performance

NASDAQ WING opened at $259.67 on Friday. Wingstop Inc. has a one year low of $204.00 and a one year high of $433.86. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 69.99, a price-to-earnings-growth ratio of 2.27 and a beta of 2.02. The company’s 50-day simple moving average is $226.03 and its two-hundred day simple moving average is $281.44.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Wingstop had a negative return on equity of 21.59% and a net margin of 17.37%. The company had revenue of $171.09 million during the quarter, compared to analyst estimates of $172.25 million. During the same quarter in the prior year, the business earned $0.98 earnings per share. Wingstop’s revenue was up 17.4% on a year-over-year basis. Equities analysts expect that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $0.27 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.08 dividend on an annualized basis and a yield of 0.42%. Wingstop’s dividend payout ratio is presently 29.11%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WING shares. Wells Fargo & Company boosted their target price on shares of Wingstop from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday. Northcoast Research cut Wingstop from a “buy” rating to a “neutral” rating in a research note on Friday, February 21st. Robert W. Baird lowered their price objective on Wingstop from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Monday, April 7th. Truist Financial lifted their target price on Wingstop from $242.00 to $274.00 and gave the stock a “hold” rating in a report on Thursday. Finally, TD Securities restated a “buy” rating and set a $265.00 price target on shares of Wingstop in a report on Wednesday. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $326.17.

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.