Westfield Capital Management Co. LP Decreases Position in Wingstop Inc. (NASDAQ:WING)

Westfield Capital Management Co. LP reduced its stake in shares of Wingstop Inc. (NASDAQ:WING) by 36.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 275,725 shares of the restaurant operator’s stock after selling 160,754 shares during the period. Westfield Capital Management Co. LP’s holdings in Wingstop were worth $114,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WING. Millennium Management LLC grew its position in Wingstop by 284.1% in the second quarter. Millennium Management LLC now owns 383,184 shares of the restaurant operator’s stock valued at $161,957,000 after acquiring an additional 283,412 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Wingstop by 36.6% in the second quarter. Renaissance Technologies LLC now owns 602,990 shares of the restaurant operator’s stock valued at $254,860,000 after purchasing an additional 161,600 shares during the period. Eagle Asset Management Inc. grew its holdings in Wingstop by 40.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 465,368 shares of the restaurant operator’s stock valued at $193,630,000 after purchasing an additional 134,802 shares in the last quarter. AQR Capital Management LLC increased its stake in Wingstop by 66.6% during the 2nd quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock worth $137,753,000 after buying an additional 130,248 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Wingstop by 41,244.9% in the 3rd quarter. International Assets Investment Management LLC now owns 65,325 shares of the restaurant operator’s stock worth $27,180,000 after buying an additional 65,167 shares in the last quarter.

Wingstop Price Performance

Shares of NASDAQ WING opened at $337.60 on Friday. Wingstop Inc. has a 1-year low of $229.27 and a 1-year high of $433.86. The firm has a market capitalization of $9.86 billion, a PE ratio of 98.43, a P/E/G ratio of 3.15 and a beta of 1.76. The business’s fifty day moving average price is $371.30 and its two-hundred day moving average price is $382.48.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm had revenue of $162.50 million during the quarter, compared to the consensus estimate of $160.24 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. The company’s revenue for the quarter was up 38.8% compared to the same quarter last year. Equities research analysts expect that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is 31.49%.

Analyst Ratings Changes

WING has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and set a $390.00 target price on shares of Wingstop in a research note on Tuesday, November 5th. TD Cowen reduced their target price on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Raymond James upgraded shares of Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Thursday, August 1st. BMO Capital Markets increased their price objective on shares of Wingstop from $345.00 to $360.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Finally, Citigroup raised their price objective on shares of Wingstop from $417.00 to $440.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Wingstop currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.74.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.