Benchstone Capital Management LP Purchases New Stake in Wingstop Inc. (NASDAQ:WING)

Benchstone Capital Management LP acquired a new position in Wingstop Inc. (NASDAQ:WING - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 52,776 shares of the restaurant operator's stock, valued at approximately $14,999,000. Benchstone Capital Management LP owned approximately 0.18% of Wingstop as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WING. EverSource Wealth Advisors LLC boosted its stake in shares of Wingstop by 521.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock valued at $25,000 after buying an additional 73 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in shares of Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock valued at $26,000 after acquiring an additional 35 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Wingstop during the 4th quarter valued at $30,000. V Square Quantitative Management LLC lifted its position in shares of Wingstop by 34.9% during the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator's stock valued at $41,000 after acquiring an additional 37 shares during the period. Finally, Quarry LP acquired a new stake in shares of Wingstop during the 4th quarter worth $41,000.

Insiders Place Their Bets

In other news, SVP Raj Kapoor sold 637 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $273.07, for a total transaction of $173,945.59. Following the transaction, the senior vice president now owns 517 shares of the company's stock, valued at $141,177.19. This represents a 55.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.72% of the company's stock.

Wingstop Stock Up 1.2 %

WING traded up $3.28 during midday trading on Wednesday, hitting $270.13. 628,982 shares of the company were exchanged, compared to its average volume of 598,162. The firm has a market capitalization of $7.54 billion, a P/E ratio of 72.81, a P/E/G ratio of 2.27 and a beta of 1.80. The firm's 50 day moving average price is $228.95 and its 200-day moving average price is $278.41. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last announced its earnings results on Wednesday, April 30th. The restaurant operator reported $0.99 EPS for the quarter, beating the consensus estimate of $0.84 by $0.15. Wingstop had a negative return on equity of 21.59% and a net margin of 17.37%. The business had revenue of $171.09 million for the quarter, compared to analysts' expectations of $172.25 million. During the same period in the prior year, the business posted $0.98 earnings per share. The firm's revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts predict that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, May 16th. Wingstop's dividend payout ratio (DPR) is presently 18.09%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WING shares. Wells Fargo & Company increased their price objective on shares of Wingstop from $270.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Stephens reaffirmed an "overweight" rating and set a $385.00 price target on shares of Wingstop in a report on Wednesday, April 30th. Jefferies Financial Group raised shares of Wingstop from a "hold" rating to a "buy" rating and set a $270.00 price objective on the stock in a research note on Monday, March 31st. Morgan Stanley cut their target price on Wingstop from $389.00 to $375.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Finally, Barclays lowered their price target on Wingstop from $315.00 to $260.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $320.05.

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.