8,716 Shares of Wingstop Inc. $WING Bought by Titleist Asset Management LLC

Key Points

• Titleist Asset Management acquired 8,716 Wingstop shares during the third quarter, worth approximately $918,000. Several other institutional investors also initiated or increased positions.
• Wingstop shares were trading at $118.50, with a market capitalization of about $3.23 billion. The company recently reported quarterly earnings of $1.18 per share, beating estimates, while revenue rose 6.5% year over year.
• Wingstop increased its quarterly dividend from $0.30 to $0.33 per share, resulting in a 1.1% annualized yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $236.44.

Titleist Asset Management LLC purchased a new position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,716 shares of the restaurant operator's stock, valued at approximately $918,000.

Several other hedge funds have also made changes to their positions in WING. Allworth Financial LP acquired a new position in shares of Wingstop in the second quarter valued at approximately $34,000. Harbor Investment Advisory LLC acquired a new stake in Wingstop during the 2nd quarter worth approximately $46,000. Global Retirement Partners LLC acquired a new stake in Wingstop during the 2nd quarter worth approximately $62,000. GAMMA Investing LLC boosted its position in Wingstop by 35.9% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the restaurant operator's stock valued at $66,000 after buying an additional 101 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Wingstop in the 2nd quarter valued at approximately $69,000.

Wingstop Stock Up 1.6%

NASDAQ:WING opened at $118.50 on Friday. The stock's 50 day moving average price is $111.70 and its 200 day moving average price is $140.44. The company has a market capitalization of $3.23 billion, a PE ratio of 28.15, a P/E/G ratio of 1.39 and a beta of 1.81. Wingstop Inc. has a 52-week low of $95.82 and a 52-week high of $302.80.

Wingstop (NASDAQ:WING - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.16. The company had revenue of $185.56 million during the quarter, compared to analysts' expectations of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. As a group, sell-side analysts anticipate that Wingstop Inc. will post 4.49 EPS for the current fiscal year.

Wingstop Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 5th. Investors of record on Saturday, August 15th were given a $0.33 dividend. This is a positive change from Wingstop's previous quarterly dividend of $0.30. The ex-dividend date was Friday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.1%. Wingstop's payout ratio is currently 31.35%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WING. Wells Fargo & Company cut their price objective on Wingstop from $170.00 to $165.00 and set an "overweight" rating on the stock in a research report on Thursday, July 30th. Royal Bank Of Canada decreased their target price on Wingstop from $200.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, September 17th. Wall Street Zen raised Wingstop from a "sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Piper Sandler set a $173.00 price target on Wingstop in a report on Wednesday, July 29th. Finally, Robert W. Baird raised Wingstop to a "strong-buy" rating in a research report on Monday, August 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $236.44.

Wingstop Profile

Wingstop Inc is a restaurant company that specializes in made-to-order chicken wings and related menu items. Its offerings include classic and boneless wings prepared with a variety of signature flavors, as well as chicken sandwiches, tenders, seasoned fries, sides, dips and beverages. The company serves customers through dine-in, takeout, delivery and digital ordering channels.

Founded in 1994 in Garland, Texas, Wingstop has developed primarily as a franchised restaurant brand. The company supports its franchisees through brand marketing, restaurant development, operating systems, menu innovation and supply-chain coordination, while franchisees generally own and operate individual locations.

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