Bamco Inc. NY Invests $74.59 Million in Wingstop Inc. $WING

Key Points

• Bamco Inc. NY acquired 430,165 Wingstop shares worth approximately $74.6 million, giving the fund a 1.58% stake at the end of the second quarter.
• Wingstop reported quarterly EPS of $1.18, beating estimates of $1.02, while revenue rose 6.5% year over year to $185.56 million but fell short of expectations.
• The stock opened at $112.24, near its 12-month low, despite analysts maintaining a “Moderate Buy” consensus with an average price target of $241.81; Wingstop also increased its quarterly dividend from $0.30 to $0.33 per share.

Bamco Inc. NY bought a new stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 430,165 shares of the restaurant operator's stock, valued at approximately $74,595,000. Bamco Inc. NY owned approximately 1.58% of Wingstop at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Baird Financial Group Inc. purchased a new position in shares of Wingstop in the 1st quarter valued at approximately $256,000. Jones Financial Companies Lllp lifted its position in Wingstop by 2,770.6% during the first quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator's stock valued at $440,000 after buying an additional 1,884 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Wingstop by 5.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 92,439 shares of the restaurant operator's stock valued at $20,852,000 after buying an additional 4,937 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings 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 buying an additional 119 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its position in shares of Wingstop by 45.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,387 shares of the restaurant operator's stock worth $467,000 after buying an additional 434 shares during the period.

Wingstop Trading Down 1.4%

NASDAQ:WING opened at $112.24 on Thursday. The company has a market cap of $3.06 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.35 and a beta of 1.81. The company has a 50 day simple moving average of $140.06 and a two-hundred day simple moving average of $167.97. Wingstop Inc. has a 12 month low of $110.44 and a 12 month high of $342.10.

Wingstop (NASDAQ:WING - Get Free Report) last announced its earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.16. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The business had revenue of $185.56 million during the quarter, compared to analysts' expectations of $190.25 million. During the same period in the prior year, the company earned $1.00 earnings per share. The firm's revenue was up 6.5% on a year-over-year basis. Research analysts forecast that Wingstop Inc. will post 4.5 earnings per share for the current year.

Wingstop Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Shareholders of record on Saturday, August 15th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 14th. This is a positive change from Wingstop's previous quarterly dividend of $0.30. Wingstop's dividend payout ratio is currently 31.35%.

Wall Street Analysts Forecast Growth

WING has been the subject of several research reports. Bank of America decreased their price target on shares of Wingstop from $264.00 to $234.00 and set a "buy" rating for the company in a research note on Wednesday, June 24th. Weiss Ratings cut shares of Wingstop from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, August 17th. TD Cowen reiterated a "hold" rating on shares of Wingstop in a report on Wednesday, July 29th. Guggenheim reduced their price objective on Wingstop from $255.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, May 4th. Finally, Barclays lowered their price objective on Wingstop from $330.00 to $235.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $241.81.

Wingstop 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.

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