Freestone Grove Partners LP Takes $35.55 Million Position in Wingstop Inc. $WING

Freestone Grove Partners LP purchased a new position in shares of Wingstop Inc. (NASDAQ:WING) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 204,992 shares of the restaurant operator’s stock, valued at approximately $35,548,000. Freestone Grove Partners LP owned about 0.75% of Wingstop at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Baird Financial Group Inc. acquired a new stake in Wingstop during the 1st quarter worth $256,000. Jones Financial Companies Lllp lifted its stake in shares of Wingstop by 2,770.6% in the 1st quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator’s stock valued at $440,000 after purchasing an additional 1,884 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Wingstop by 5.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator’s stock valued at $20,852,000 after purchasing an additional 4,937 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 119 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its position in shares of Wingstop by 45.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,387 shares of the restaurant operator’s stock worth $467,000 after purchasing an additional 434 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. The Goldman Sachs Group downgraded Wingstop from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $290.00 to $190.00 in a report on Thursday, April 30th. Stephens reaffirmed an “overweight” rating and issued a $200.00 price target on shares of Wingstop in a research note on Thursday, July 30th. Wells Fargo & Company cut their price target on shares of Wingstop from $170.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Barclays reduced their price objective on shares of Wingstop from $330.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Finally, Wall Street Zen raised shares of Wingstop from a “sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and a consensus price target of $241.81.

Wingstop Price Performance

Shares of Wingstop stock opened at $112.24 on Thursday. Wingstop Inc. has a 1 year low of $110.44 and a 1 year high of $342.10. The business has a 50-day moving average of $140.06 and a two-hundred day moving average of $167.97. The company has a market capitalization of $3.06 billion, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 1.35 and a beta of 1.81.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The company had revenue of $185.56 million for the quarter, compared to analyst estimates of $190.25 million. During the same quarter last year, the firm posted $1.00 earnings per share. Wingstop’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that Wingstop Inc. will post 4.5 EPS for the current fiscal year.

Wingstop Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 5th. Shareholders of record on Saturday, August 15th will be issued a dividend of $0.33 per share. This is an increase from Wingstop’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.2%. Wingstop’s dividend payout ratio is 31.35%.

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.