Nicholas Investment Partners LP Acquires 44,015 Shares of Wingstop Inc. $WING

Nicholas Investment Partners LP boosted its position in Wingstop Inc. (NASDAQ:WING) by 299.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,694 shares of the restaurant operator’s stock after purchasing an additional 44,015 shares during the quarter. Wingstop comprises about 1.0% of Nicholas Investment Partners LP’s portfolio, making the stock its 26th biggest holding. Nicholas Investment Partners LP owned approximately 0.21% of Wingstop worth $13,998,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its holdings in Wingstop by 76.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock valued at $33,000 after buying an additional 60 shares in the last quarter. Rakuten Securities Inc. grew its holdings in Wingstop by 197.9% in the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 95 shares in the last quarter. Pinnacle Holdings LLC acquired a new position in Wingstop in the 3rd quarter valued at $47,000. GW&K Investment Management LLC grew its holdings in Wingstop by 75.7% in the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock valued at $45,000 after buying an additional 81 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Wingstop by 75.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 204 shares of the restaurant operator’s stock valued at $51,000 after buying an additional 88 shares in the last quarter.

Wingstop Stock Performance

Wingstop stock opened at $162.29 on Friday. Wingstop Inc. has a 52 week low of $116.35 and a 52 week high of $381.45. The stock has a market capitalization of $4.42 billion, a P/E ratio of 40.37, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The stock has a fifty day moving average of $156.64 and a 200-day moving average of $212.93.

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

Wingstop Announces Dividend

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

Analyst Upgrades and Downgrades

WING has been the topic of a number of research reports. Truist Financial set a $374.00 price objective on Wingstop and gave the company a “buy” rating in a report on Wednesday, February 18th. BTIG Research reaffirmed a “buy” rating and issued a $305.00 price objective on shares of Wingstop in a report on Thursday, May 28th. Mizuho set a $280.00 price objective on Wingstop in a report on Friday, June 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $255.00 price objective on shares of Wingstop in a report on Thursday, April 30th. Finally, Wells Fargo & Company dropped their price objective on Wingstop from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Wingstop currently has an average rating of “Moderate Buy” and an average price target of $274.82.

About Wingstop

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.