111 Capital Takes $380,000 Position in Wingstop Inc. $WING

Key Points

• 111 Capital acquired a new position in Wingstop Inc. during the 2nd quarter, purchasing 1,127 shares worth approximately $380,000.
• Several large hedge funds have also increased their stakes in Wingstop, with T. Rowe Price adding a significant position valued at $212.67 million.
• Wingstop recently reported strong earnings, beating estimates with $1.00 earnings per share for the quarter and announced an increase in its quarterly dividend from $0.27 to $0.30.

111 Capital purchased a new stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,127 shares of the restaurant operator's stock, valued at approximately $380,000.

Other hedge funds have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. purchased a new position in shares of Wingstop during the 1st quarter worth about $212,672,000. Price T Rowe Associates Inc. MD lifted its position in shares of Wingstop by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,646,934 shares of the restaurant operator's stock worth $371,517,000 after purchasing an additional 496,717 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Wingstop by 130.7% during the first quarter. Champlain Investment Partners LLC now owns 631,989 shares of the restaurant operator's stock valued at $142,564,000 after purchasing an additional 358,044 shares during the period. AQR Capital Management LLC grew its stake in Wingstop by 64.4% in the first quarter. AQR Capital Management LLC now owns 550,879 shares of the restaurant operator's stock worth $123,295,000 after purchasing an additional 215,816 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in Wingstop by 66.3% during the 1st quarter. Stephens Investment Management Group LLC now owns 446,601 shares of the restaurant operator's stock worth $100,744,000 after purchasing an additional 178,041 shares during the period.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Securities reaffirmed a "buy" rating and issued a $440.00 price objective on shares of Wingstop in a research note on Tuesday, June 17th. The Goldman Sachs Group dropped their price objective on Wingstop from $430.00 to $370.00 and set a "buy" rating on the stock in a research report on Tuesday, September 30th. BTIG Research raised their price target on shares of Wingstop from $350.00 to $430.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Wells Fargo & Company raised their target price on shares of Wingstop from $375.00 to $415.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Benchmark reduced their price target on Wingstop from $410.00 to $340.00 and set a "buy" rating on the stock in a research report on Monday, September 29th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $376.92.

Insiders Place Their Bets

In other Wingstop news, SVP Marisa Carona sold 11,938 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $370.34, for a total value of $4,421,118.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alex Kaleida sold 5,400 shares of Wingstop stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $376.09, for a total value of $2,030,886.00. Following the transaction, the chief financial officer owned 8,362 shares of the company's stock, valued at $3,144,864.58. This represents a 39.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,838 shares of company stock worth $8,118,535. 0.72% of the stock is owned by insiders.

Wingstop Price Performance

NASDAQ WING opened at $251.98 on Monday. Wingstop Inc. has a 12 month low of $204.00 and a 12 month high of $418.84. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 42.00, a price-to-earnings-growth ratio of 3.16 and a beta of 1.78. The firm's fifty day moving average price is $303.50 and its 200 day moving average price is $297.77.

Wingstop (NASDAQ:WING - Get Free Report) last posted its earnings results on Wednesday, July 30th. The restaurant operator reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.12. Wingstop had a negative return on equity of 17.07% and a net margin of 25.61%.The business had revenue of $174.33 million during the quarter, compared to the consensus estimate of $172.60 million. During the same period in the previous year, the business earned $0.93 EPS. The business's quarterly revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts forecast that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.20 annualized dividend and a yield of 0.5%. This is an increase from Wingstop's previous quarterly dividend of $0.27. Wingstop's dividend payout ratio is presently 20.00%.

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.

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