Benchstone Capital Management LP Has $22.83 Million Holdings in Wingstop Inc. $WING

Benchstone Capital Management LP lifted its position in Wingstop Inc. (NASDAQ:WING) by 198.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,804 shares of the restaurant operator’s stock after purchasing an additional 45,081 shares during the quarter. Wingstop accounts for 2.0% of Benchstone Capital Management LP’s portfolio, making the stock its 26th largest position. Benchstone Capital Management LP’s holdings in Wingstop were worth $22,832,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WING. Motley Fool Asset Management LLC lifted its holdings in shares of Wingstop by 64.2% during the 2nd quarter. Motley Fool Asset Management LLC now owns 8,879 shares of the restaurant operator’s stock worth $2,990,000 after acquiring an additional 3,471 shares during the period. Amundi raised its position in Wingstop by 289.2% in the first quarter. Amundi now owns 18,595 shares of the restaurant operator’s stock worth $4,514,000 after purchasing an additional 13,817 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Wingstop by 501.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,112 shares of the restaurant operator’s stock worth $251,000 after purchasing an additional 927 shares during the period. FORA Capital LLC boosted its holdings in Wingstop by 20.7% during the first quarter. FORA Capital LLC now owns 15,292 shares of the restaurant operator’s stock valued at $3,450,000 after purchasing an additional 2,622 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Wingstop by 85.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,922 shares of the restaurant operator’s stock valued at $3,341,000 after purchasing an additional 4,576 shares in the last quarter.

Wingstop Trading Up 0.3%

WING opened at $235.89 on Friday. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $388.14. The stock has a market capitalization of $6.56 billion, a PE ratio of 38.42, a PEG ratio of 3.24 and a beta of 1.75. The firm has a 50-day moving average price of $246.89 and a two-hundred day moving average price of $295.38.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Tuesday, November 4th. The restaurant operator reported $1.09 EPS for the quarter, beating the consensus estimate of $0.91 by $0.18. The business had revenue of $175.74 million for the quarter, compared to analysts’ expectations of $189.10 million. Wingstop had a net margin of 25.51% and a negative return on equity of 16.17%. Wingstop’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. On average, research analysts predict that Wingstop Inc. will post 4.18 EPS for the current year.

Wingstop Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 21st were given a dividend of $0.30 per share. The ex-dividend date was Friday, November 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.5%. Wingstop’s payout ratio is presently 19.54%.

Analysts Set New Price Targets

WING has been the subject of several analyst reports. Wells Fargo & Company cut their target price on Wingstop from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Truist Financial dropped their price objective on Wingstop from $400.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Zacks Research downgraded shares of Wingstop from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. TD Cowen lowered their target price on shares of Wingstop from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Stephens reissued an “overweight” rating and set a $375.00 price target on shares of Wingstop in a report on Tuesday, November 4th. Five analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $337.81.

Insider Activity

In other news, Director Kilandigalu Madati sold 269 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $259.97, for a total transaction of $69,931.93. Following the transaction, the director owned 5,283 shares of the company’s stock, valued at $1,373,421.51. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is owned by company insiders.

Wingstop Company Profile

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.