Nicholas Investment Partners LP Has $14 Million Position in Wingstop Inc. $WING

Nicholas Investment Partners LP boosted its position in Wingstop Inc. (NASDAQ:WING) by 299.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,694 shares of the restaurant operator’s stock after purchasing an additional 44,015 shares during the period. Wingstop accounts for about 1.0% of Nicholas Investment Partners LP’s portfolio, making the stock its 26th biggest holding. Nicholas Investment Partners LP’s holdings in Wingstop were worth $13,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WING. Baird Financial Group Inc. acquired a new position in Wingstop in the 1st quarter worth about $256,000. Jones Financial Companies Lllp increased its holdings in Wingstop by 2,770.6% in the 1st quarter. Jones Financial Companies Lllp now owns 1,952 shares of the restaurant operator’s stock worth $440,000 after purchasing an additional 1,884 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Wingstop by 5.6% in 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 purchasing an additional 4,937 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Wingstop by 121.4% in the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after buying an additional 119 shares during the period. Finally, Sivia Capital Partners LLC increased its stake in shares of Wingstop by 45.5% in the second quarter. Sivia Capital Partners LLC now owns 1,387 shares of the restaurant operator’s stock valued at $467,000 after buying an additional 434 shares during the period.

Wingstop Stock Performance

Shares of WING opened at $162.29 on Friday. The stock has a 50 day moving average price of $156.64 and a two-hundred day moving average price of $212.93. The firm has a market capitalization of $4.42 billion, a P/E ratio of 40.37, a P/E/G ratio of 1.81 and a beta of 1.82. Wingstop Inc. has a 52 week low of $116.35 and a 52 week high of $381.45.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $183.73 million for the quarter, compared to the consensus estimate of $187.82 million. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 EPS. On average, equities analysts forecast that Wingstop Inc. will post 4.59 earnings per share for the current year.

Wingstop Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, May 15th. Wingstop’s payout ratio is currently 29.85%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WING shares. TD Cowen reissued a “hold” rating and issued a $160.00 price target on shares of Wingstop in a research note on Thursday, June 4th. DA Davidson reissued a “buy” rating and issued a $250.00 price target on shares of Wingstop in a research note on Monday, April 20th. Morgan Stanley reissued an “overweight” rating and issued a $255.00 price target on shares of Wingstop in a research note on Thursday, April 30th. Mizuho set a $280.00 target price on Wingstop in a research note on Friday, June 5th. Finally, Piper Sandler upgraded Wingstop from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $283.00 to $190.00 in a report on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $274.82.

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.