Baypointe Partners LLC Buys 5,000 Shares of Wingstop Inc. $WING

Baypointe Partners LLC purchased a new position in Wingstop Inc. (NASDAQ:WING) during the third quarter, HoldingsChannel reports. The firm purchased 5,000 shares of the restaurant operator’s stock, valued at approximately $527,000. Wingstop accounts for about 3.9% of Baypointe Partners LLC’s investment portfolio, making the stock its 9th largest position.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Wingstop during the 2nd quarter valued at about $481,314,000. State Street Corp raised its stake in Wingstop by 2.0% in the second quarter. State Street Corp now owns 863,951 shares of the restaurant operator’s stock worth $149,751,000 after buying an additional 16,907 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Wingstop during the 2nd quarter valued at $1,558,000. TimesSquare Capital Management LLC bought a new position in shares of Wingstop in the 2nd quarter worth $15,874,000. Finally, Bank of New York Mellon Corp bought a new stake in Wingstop during the second quarter valued at about $80,456,000.

Analyst Ratings Changes

WING has been the subject of a number of recent analyst reports. Robert W. Baird lowered their target price on shares of Wingstop from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday. Royal Bank Of Canada dropped their price target on shares of Wingstop from $200.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, September 17th. Sanford C. Bernstein lowered shares of Wingstop from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $220.00 to $155.00 in a research note on Monday, August 3rd. DA Davidson set a $180.00 price objective on shares of Wingstop in a report on Thursday. Finally, Piper Sandler set a $173.00 price objective on Wingstop in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $228.96.

Wingstop Stock Down 1.1%

WING opened at $119.54 on Friday. The company has a market cap of $3.26 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.46 and a beta of 1.81. The company has a 50 day moving average of $112.96 and a two-hundred day moving average of $138.00. Wingstop Inc. has a 52-week low of $95.82 and a 52-week high of $302.80.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.16. The company had revenue of $185.56 million during the quarter, compared to the consensus estimate of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.00 earnings per share. Research analysts anticipate that Wingstop Inc. will post 4.45 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 5th. Investors of record on Saturday, August 15th were issued a $0.33 dividend. This is a positive change from Wingstop’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. Wingstop’s dividend payout ratio is currently 31.35%.

Wingstop Company Profile

Wingstop Inc is a franchised restaurant company specializing in cooked-to-order chicken wings and related menu items. Its offerings include classic and boneless wings prepared with a range of flavors, along with chicken sandwiches, tenders, fries, seasoned fries, dips, sides and beverages. The company emphasizes made-to-order food, a digital ordering experience and a menu centered on customizable chicken meals.

Founded in 1994 in Garland, Texas, Wingstop has expanded from a single restaurant into a global brand operated primarily through franchised locations.