Atreides Management LP Makes New $93.01 Million Investment in Wingstop Inc. $WING

Atreides Management LP bought a new position in Wingstop Inc. (NASDAQ:WING) in the fourth quarter, HoldingsChannel reports. The fund bought 390,005 shares of the restaurant operator’s stock, valued at approximately $93,012,000. Wingstop makes up about 1.1% of Atreides Management LP’s portfolio, making the stock its 18th largest position.

A number of other hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. increased its position in shares of Wingstop by 76.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 60 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Wingstop by 197.9% during the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 95 shares during the last quarter. GW&K Investment Management LLC increased its position in shares of Wingstop by 75.7% during the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock valued at $45,000 after purchasing an additional 81 shares during the last quarter. Pinnacle Holdings LLC purchased a new stake in shares of Wingstop during the 3rd quarter valued at about $47,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after purchasing an additional 119 shares during the last quarter.

Wingstop Trading Down 7.8%

Shares of NASDAQ:WING opened at $150.05 on Thursday. The stock has a 50 day moving average of $156.83 and a 200 day moving average of $210.59. The company has a market cap of $4.09 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. Wingstop Inc. has a 12-month low of $116.35 and a 12-month high of $381.45.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. The company had revenue of $183.73 million during the quarter, compared to the consensus estimate of $187.82 million. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. Equities research analysts predict that Wingstop Inc. will post 4.59 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, May 15th. Wingstop’s dividend payout ratio is presently 29.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WING. Raymond James Financial raised shares of Wingstop from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $325.00 to $240.00 in a research report on Thursday, April 2nd. UBS Group reduced their price target on shares of Wingstop from $210.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. TD Cowen reaffirmed a “hold” rating and set a $160.00 price target on shares of Wingstop in a research report on Thursday, June 4th. The Goldman Sachs Group lowered shares of Wingstop from a “buy” rating to a “neutral” rating and reduced their price target for the company from $290.00 to $190.00 in a research report on Thursday, April 30th. Finally, Guggenheim reduced their price target on shares of Wingstop from $255.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $268.70.

Wingstop Company 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.