Tremblant Capital Group Has $30.63 Million Holdings in Wingstop Inc. $WING

Key Points

• Tremblant Capital Group trimmed its stake in Wingstop by 6.1% to 121,681 shares, a holding valued at approximately $30.63 million that represents about 3.2% of Tremblant’s portfolio and makes WING its 13th largest position.
• Other institutions materially increased exposure—most notably Capital World Investors (up 160.6% to 740,896 shares) while Norges Bank, Wasatch, Artisan and MFS also established or added large stakes, signaling strong institutional buying interest.
• Analysts have a consensus rating of Moderate Buy with a consensus price target of $337.29; Wingstop recently beat EPS estimates ($1.00 vs. $0.84) and announced a quarterly dividend of $0.30 per share (annualized $1.20, ~0.6% yield).

Tremblant Capital Group trimmed its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,681 shares of the restaurant operator's stock after selling 7,969 shares during the period. Wingstop comprises approximately 3.2% of Tremblant Capital Group's investment portfolio, making the stock its 13th biggest position. Tremblant Capital Group owned approximately 0.44% of Wingstop worth $30,625,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital World Investors lifted its holdings in Wingstop by 160.6% during the 3rd quarter. Capital World Investors now owns 740,896 shares of the restaurant operator's stock worth $186,469,000 after buying an additional 456,637 shares during the period. Norges Bank acquired a new stake in shares of Wingstop in the second quarter valued at about $118,211,000. Wasatch Advisors LP acquired a new stake in shares of Wingstop in the second quarter valued at about $114,758,000. Artisan Partners Limited Partnership raised its position in shares of Wingstop by 83.1% during the second quarter. Artisan Partners Limited Partnership now owns 737,369 shares of the restaurant operator's stock worth $248,302,000 after acquiring an additional 334,583 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Wingstop by 50.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 949,033 shares of the restaurant operator's stock worth $238,853,000 after acquiring an additional 316,328 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently commented on WING. Wolfe Research initiated coverage on Wingstop in a report on Monday, March 9th. They issued an "outperform" rating and a $320.00 target price on the stock. DA Davidson started coverage on shares of Wingstop in a report on Friday, March 6th. They set a "buy" rating and a $330.00 price target for the company. Melius Research set a $350.00 price target on shares of Wingstop in a research report on Tuesday, January 20th. Mizuho reduced their price objective on shares of Wingstop from $320.00 to $310.00 and set an "outperform" rating on the stock in a research note on Friday, January 9th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $350.00 price objective on shares of Wingstop in a research report on Monday, December 15th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $337.29.

Insider Transactions at Wingstop

In related news, Director Kilandigalu Madati sold 2,700 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total value of $703,971.00. Following the completion of the sale, the director directly owned 2,583 shares of the company's stock, valued at $673,465.59. The trade was a 51.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wesley S. Mcdonald sold 566 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $250.00, for a total value of $141,500.00. Following the transaction, the director directly owned 4,375 shares in the company, valued at approximately $1,093,750. This trade represents a 11.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.72% of the stock is owned by corporate insiders.

Wingstop Stock Up 5.3%

Shares of WING stock opened at $203.44 on Friday. The firm has a 50 day moving average of $255.95 and a 200-day moving average of $257.28. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.11 and a beta of 1.82. Wingstop Inc. has a 52 week low of $192.87 and a 52 week high of $388.14.

Wingstop (NASDAQ:WING - Get Free Report) last released its earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.16. The company had revenue of $175.69 million for the quarter, compared to the consensus estimate of $177.74 million. Wingstop had a net margin of 25.01% and a negative return on equity of 16.12%. Wingstop's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. Analysts anticipate that Wingstop Inc. will post 4.18 earnings per share for the current year.

Wingstop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, March 6th. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Wingstop's dividend payout ratio is currently 19.42%.

Wingstop Company 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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