Edgestream Partners L.P. Acquires New Position in Wingstop Inc. (NASDAQ:WING)

Edgestream Partners L.P. bought a new position in Wingstop Inc. (NASDAQ:WING) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 15,564 shares of the restaurant operator’s stock, valued at approximately $6,578,000. Edgestream Partners L.P. owned approximately 0.05% of Wingstop at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in shares of Wingstop by 155.7% in the 4th quarter. Franklin Resources Inc. now owns 873,385 shares of the restaurant operator’s stock valued at $224,093,000 after purchasing an additional 531,880 shares in the last quarter. Norges Bank purchased a new position in Wingstop in the fourth quarter worth $80,423,000. 1832 Asset Management L.P. acquired a new position in shares of Wingstop during the fourth quarter worth $78,616,000. Renaissance Technologies LLC lifted its holdings in shares of Wingstop by 36.6% during the 2nd quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after purchasing an additional 161,600 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Wingstop by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 2,924,326 shares of the restaurant operator’s stock worth $1,071,473,000 after purchasing an additional 104,780 shares in the last quarter.

Insider Activity

In related news, SVP Donnie Upshaw sold 3,199 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the completion of the sale, the senior vice president now owns 97 shares of the company’s stock, valued at approximately $36,152.87. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays raised their price target on Wingstop from $418.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Wedbush increased their price target on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday. Stifel Nicolaus lifted their price objective on shares of Wingstop from $420.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Piper Sandler increased their price objective on shares of Wingstop from $353.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets boosted their target price on shares of Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wingstop has a consensus rating of “Hold” and a consensus price target of $379.53.

Wingstop Stock Up 3.6 %

WING stock opened at $409.00 on Tuesday. Wingstop Inc. has a 52 week low of $166.65 and a 52 week high of $431.03. The firm has a 50-day simple moving average of $379.23 and a 200-day simple moving average of $380.08. The stock has a market capitalization of $11.98 billion, a P/E ratio of 145.55, a P/E/G ratio of 3.96 and a beta of 1.71.

Wingstop (NASDAQ:WING) last announced its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. The business had revenue of $155.70 million during the quarter, compared to analysts’ expectations of $146.04 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The business’s revenue was up 45.3% compared to the same quarter last year. On average, analysts expect that Wingstop Inc. will post 3.77 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were issued a dividend of $0.27 per share. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.26%. Wingstop’s dividend payout ratio is presently 38.43%.

Wingstop Company 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.