Two Creeks Capital Management LP Sells 28,346 Shares of Wingstop Inc. $WING

Two Creeks Capital Management LP cut its stake in shares of Wingstop Inc. (NASDAQ:WING) by 15.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 158,465 shares of the restaurant operator’s stock after selling 28,346 shares during the period. Wingstop comprises about 2.9% of Two Creeks Capital Management LP’s investment portfolio, making the stock its 20th biggest position. Two Creeks Capital Management LP’s holdings in Wingstop were worth $39,882,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. WCM Investment Management LLC lifted its holdings in shares of Wingstop by 123.9% in the 3rd quarter. WCM Investment Management LLC now owns 102,687 shares of the restaurant operator’s stock worth $25,861,000 after buying an additional 56,833 shares during the period. TD Asset Management Inc raised its stake in shares of Wingstop by 17.1% during the 3rd quarter. TD Asset Management Inc now owns 57,586 shares of the restaurant operator’s stock worth $14,493,000 after acquiring an additional 8,414 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Wingstop by 17.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 741,097 shares of the restaurant operator’s stock valued at $249,557,000 after purchasing an additional 109,108 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Wingstop by 61.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,825 shares of the restaurant operator’s stock valued at $951,000 after buying an additional 1,072 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Wingstop by 287.3% during the third quarter. SG Americas Securities LLC now owns 6,329 shares of the restaurant operator’s stock valued at $1,593,000 after acquiring an additional 4,695 shares in the last quarter.

Wingstop Trading Up 5.3%

NASDAQ WING opened at $203.44 on Friday. The stock has a fifty day simple moving average of $255.95 and a 200-day simple moving average of $257.28. The stock has a market cap of $5.59 billion, a PE ratio of 32.92, a P/E/G ratio of 2.11 and a beta of 1.82. Wingstop Inc. has a twelve month low of $192.87 and a twelve month high of $388.14.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.16. Wingstop had a net margin of 25.01% and a negative return on equity of 16.12%. The company had revenue of $175.69 million during the quarter, compared to analyst estimates of $177.74 million. During the same quarter last year, the firm posted $0.92 earnings per share. Wingstop’s revenue was up 8.6% compared to the same quarter last year. Research analysts predict that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be paid a $0.30 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Wingstop’s payout ratio is currently 19.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wingstop in a report on Monday, December 29th. Royal Bank Of Canada decreased their target price on shares of Wingstop from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Jefferies Financial Group restated a “buy” rating and set a $350.00 price target on shares of Wingstop in a research report on Monday, December 15th. Wolfe Research initiated coverage on shares of Wingstop in a report on Monday, March 9th. They issued an “outperform” rating and a $320.00 price objective for the company. Finally, Melius Research set a $350.00 target price on Wingstop in a research note on Tuesday, January 20th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $337.29.

Insiders Place Their Bets

In other news, Director Wesley S. Mcdonald sold 566 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $250.00, for a total transaction of $141,500.00. Following the completion of the transaction, the director directly owned 4,375 shares of the company’s stock, valued at approximately $1,093,750. This represents a 11.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kilandigalu Madati sold 2,700 shares of Wingstop stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total transaction of $703,971.00. Following the sale, the director owned 2,583 shares in the company, valued at $673,465.59. This represents a 51.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.72% of the company’s stock.

Wingstop Profile

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.