Wellington Management Group LLP Has $64.94 Million Position in Wingstop Inc. $WING

Key Points

• Wellington Management increased its Wingstop stake by 681.6% in the second quarter, adding 326,568 shares to own 374,483 shares worth approximately $64.94 million, or 1.37% of the company.
• Wingstop’s latest quarter showed 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 company raised its quarterly dividend from $0.30 to $0.33 per share. Analysts maintained a consensus “Moderate Buy” rating, though several firms recently lowered their price targets.

Wellington Management Group LLP grew its position in Wingstop Inc. (NASDAQ:WING - Free Report) by 681.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,483 shares of the restaurant operator's stock after acquiring an additional 326,568 shares during the period. Wellington Management Group LLP owned about 1.37% of Wingstop worth $64,939,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baird Financial Group Inc. bought a new stake in Wingstop in the first quarter valued at approximately $256,000. Jones Financial Companies Lllp boosted its stake in shares of Wingstop by 2,770.6% during the 1st quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator's stock worth $440,000 after acquiring an additional 1,884 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 worth $20,852,000 after acquiring an additional 4,937 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Wingstop by 121.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator's stock valued at $49,000 after acquiring an additional 119 shares during the period. Finally, Sivia Capital Partners LLC raised its stake in Wingstop by 45.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,387 shares of the restaurant operator's stock valued at $467,000 after acquiring an additional 434 shares during the period.

Wingstop Stock Up 3.2%

Shares of Wingstop stock opened at $113.15 on Thursday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 1.30 and a beta of 1.79. Wingstop Inc. has a twelve month low of $105.43 and a twelve month high of $325.00. The company has a 50-day simple moving average of $135.44 and a two-hundred day simple moving average of $162.92.

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, topping the consensus estimate of $1.02 by $0.16. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The company had revenue of $185.56 million for the quarter, compared to analysts' expectations of $190.25 million. The business's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.00 earnings per share. On average, sell-side analysts anticipate that Wingstop Inc. will post 4.5 earnings per share for the current fiscal year.

Wingstop Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have commented on WING. TD Cowen reaffirmed a "hold" rating on shares of Wingstop in a research report on Wednesday, July 29th. Royal Bank Of Canada reduced their target price on shares of Wingstop from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, July 30th. Morgan Stanley decreased their price target on shares of Wingstop from $255.00 to $238.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Benchmark cut their price objective on shares of Wingstop from $285.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Finally, Sanford C. Bernstein downgraded shares of Wingstop from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $220.00 to $155.00 in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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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