Quarry LP Takes Position in Wingstop Inc. (NASDAQ:WING)

Quarry LP purchased a new position in Wingstop Inc. (NASDAQ:WING) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 145 shares of the restaurant operator’s stock, valued at approximately $41,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in Wingstop in the fourth quarter worth $115,301,000. Norges Bank bought a new position in shares of Wingstop during the 4th quarter worth $106,123,000. Champlain Investment Partners LLC purchased a new stake in Wingstop in the 4th quarter worth about $77,855,000. Price T Rowe Associates Inc. MD raised its stake in Wingstop by 29.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,150,217 shares of the restaurant operator’s stock valued at $326,893,000 after acquiring an additional 262,229 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Wingstop by 23.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 801,732 shares of the restaurant operator’s stock valued at $227,852,000 after purchasing an additional 154,055 shares during the last quarter.

Wingstop Trading Up 4.0 %

Shares of NASDAQ WING opened at $270.11 on Friday. The stock’s 50-day moving average is $226.65 and its 200 day moving average is $279.91. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 72.81, a P/E/G ratio of 2.27 and a beta of 1.80. Wingstop Inc. has a 1-year low of $204.00 and a 1-year high of $433.86.

Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.15. Wingstop had a net margin of 17.37% and a negative return on equity of 21.59%. The firm had revenue of $171.09 million during the quarter, compared to analyst estimates of $172.25 million. During the same period in the previous year, the business posted $0.98 EPS. The business’s quarterly revenue was up 17.4% on a year-over-year basis. On average, analysts forecast that Wingstop Inc. will post 4.18 EPS for the current fiscal year.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.40%. Wingstop’s dividend payout ratio (DPR) is currently 18.09%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on WING shares. Piper Sandler boosted their price target on shares of Wingstop from $271.00 to $272.00 and gave the company a “neutral” rating in a research report on Thursday. BTIG Research reissued a “buy” rating on shares of Wingstop in a report on Tuesday, March 25th. Morgan Stanley cut their price target on Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Wedbush decreased their price objective on Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Barclays cut their target price on Wingstop from $315.00 to $260.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.05.

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.