Boussard & Gavaudan Investment Management LLP Invests $4.89 Million in Wingstop Inc. (NASDAQ:WING)

Boussard & Gavaudan Investment Management LLP acquired a new position in shares of Wingstop Inc. (NASDAQ:WING) in the 3rd quarter, Holdings Channel reports. The fund acquired 11,777 shares of the restaurant operator’s stock, valued at approximately $4,890,000.

Several other institutional investors and hedge funds also recently modified their holdings of WING. Massachusetts Financial Services Co. MA raised its holdings in Wingstop by 7.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 647,677 shares of the restaurant operator’s stock worth $269,485,000 after acquiring an additional 46,772 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Wingstop by 36.6% during the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock worth $254,860,000 after acquiring an additional 161,600 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in Wingstop by 40.8% during the third quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock worth $193,630,000 after acquiring an additional 134,802 shares in the last quarter. Millennium Management LLC raised its holdings in Wingstop by 284.1% during the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock worth $161,957,000 after acquiring an additional 283,412 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Wingstop by 66.6% during the second quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock worth $137,753,000 after acquiring an additional 130,248 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently issued reports on the company. TD Cowen dropped their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Raymond James upgraded Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Thursday, August 1st. Northcoast Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $350.00 price objective on the stock in a research note on Friday, November 1st. Benchmark upgraded Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group upgraded Wingstop from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $458.00 to $377.00 in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $368.74.

Wingstop Stock Performance

Shares of WING opened at $331.27 on Thursday. Wingstop Inc. has a 52 week low of $232.88 and a 52 week high of $433.86. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 96.58, a PEG ratio of 3.16 and a beta of 1.76. The stock has a fifty day moving average of $368.31 and a 200-day moving average of $381.61.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm had revenue of $162.50 million during the quarter, compared to the consensus estimate of $160.24 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The firm’s revenue was up 38.8% on a year-over-year basis. As a group, equities analysts forecast that Wingstop Inc. will post 3.68 EPS for the current year.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, November 15th. Wingstop’s payout ratio is 31.49%.

Wingstop 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.