Wingstop Inc. $WING Shares Newly Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners LP acquired a new 21,409-share stake in Wingstop during the third quarter, valued at about $2.26 million. Several other major investors also added to or opened positions.
• Wingstop’s latest quarterly EPS of $1.08 beat estimates of $1.02, but revenue of $185.13 million came in below expectations of $192.89 million; revenue increased 5.4% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $219.56. The company also declared a quarterly dividend of $0.33 per share, while two insiders reported share sales.

CenterBook Partners LP acquired a new stake in shares of Wingstop Inc. (NASDAQ:WING - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 21,409 shares of the restaurant operator's stock, valued at approximately $2,256,000. CenterBook Partners LP owned about 0.08% of Wingstop at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Wingstop in the 2nd quarter worth approximately $481,314,000. Darsana Capital Partners LP grew its position in Wingstop by 20.0% during the second quarter. Darsana Capital Partners LP now owns 1,500,000 shares of the restaurant operator's stock valued at $260,115,000 after acquiring an additional 250,000 shares during the last quarter. Alyeska Investment Group L.P. grew its position in Wingstop by 44.5% during the second quarter. Alyeska Investment Group L.P. now owns 942,943 shares of the restaurant operator's stock valued at $163,516,000 after acquiring an additional 290,501 shares during the last quarter. State Street Corp grew its position in Wingstop by 2.0% during the second quarter. State Street Corp now owns 863,951 shares of the restaurant operator's stock valued at $149,751,000 after acquiring an additional 16,907 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new position in shares of Wingstop during the second quarter worth approximately $147,440,000.

Insiders Place Their Bets

In other Wingstop news, COO Raj Kapoor sold 2,500 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $163.61, for a total value of $409,025.00. Following the sale, the chief operating officer owned 1,659 shares of the company's stock, valued at $271,428.99. This trade represents a 60.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wesley Mcdonald sold 1,520 shares of the business's stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $145.11, for a total transaction of $220,567.20. Following the completion of the transaction, the director owned 3,986 shares in the company, valued at $578,408.46. The trade was a 27.61% decrease in their position. The SEC filing for this sale provides additional information. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WING has been the subject of a number of research reports. Stephens reaffirmed an "overweight" rating and issued a $200.00 price objective on shares of Wingstop in a research note on Thursday, October 29th. Weiss Ratings lowered shares of Wingstop from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, August 17th. Benchmark decreased their target price on shares of Wingstop from $285.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Citigroup decreased their target price on shares of Wingstop from $191.00 to $185.00 and set a "buy" rating on the stock in a research report on Thursday, October 29th. Finally, Mizuho lowered their price target on shares of Wingstop from $240.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $219.56.

Wingstop Stock Performance

Shares of WING stock opened at $163.28 on Monday. The company has a market capitalization of $4.42 billion, a P/E ratio of 38.33, a PEG ratio of 2.17 and a beta of 1.77. Wingstop Inc. has a fifty-two week low of $95.82 and a fifty-two week high of $302.80. The stock has a 50 day moving average price of $120.15 and a two-hundred day moving average price of $161.84.

Wingstop (NASDAQ:WING - Get Free Report) last issued its earnings results on Wednesday, October 28th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. Wingstop had a net margin of 16.03% and a negative return on equity of 15.80%. The firm had revenue of $185.13 million for the quarter, compared to analysts' expectations of $192.89 million. During the same quarter last year, the business earned $1.09 earnings per share. The business's revenue was up 5.4% on a year-over-year basis. As a group, equities analysts predict that Wingstop Inc. will post 4.19 earnings per share for the current year.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.32 annualized dividend and a yield of 0.8%. Wingstop's dividend payout ratio is presently 30.99%.

Wingstop Profile

Wingstop Inc is a restaurant company focused on chicken wings and related menu items. Its offerings include classic and boneless wings with a range of flavors, as well as chicken tenders, fries, dips and other sides. Customers can order through its restaurants and digital channels.

Founded in 1994 in Garland, Texas, Wingstop has grown into an international brand. The company operates primarily through franchised restaurants in the United States and select international markets.

Wingstop is headquartered in Addison, Texas.

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