Jupiter Topco LLC Buys Shares of 850,244 Wingstop Inc. $WING

Jupiter Topco LLC purchased a new stake in shares of Wingstop Inc. (NASDAQ:WING) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 850,244 shares of the restaurant operator’s stock, valued at approximately $147,440,000. Jupiter Topco LLC owned approximately 3.12% of Wingstop at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in WING. BlackRock Inc. purchased a new position in Wingstop in the 2nd quarter worth $481,314,000. TimesSquare Capital Management LLC purchased a new stake in Wingstop during the second quarter valued at about $15,874,000. Carnegie Investment Counsel grew its stake in shares of Wingstop by 32.4% during the first quarter. Carnegie Investment Counsel now owns 68,489 shares of the restaurant operator’s stock valued at $10,614,000 after buying an additional 16,764 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Wingstop during the second quarter valued at about $80,456,000. Finally, William Blair Investment Management LLC bought a new position in shares of Wingstop during the second quarter valued at about $19,130,000.

Wingstop Price Performance

WING stock opened at $112.24 on Thursday. Wingstop Inc. has a 1 year low of $110.44 and a 1 year high of $342.10. The company has a market cap of $3.06 billion, a P/E ratio of 26.66, a PEG ratio of 1.35 and a beta of 1.81. The firm has a 50-day moving average of $140.06 and a 200 day moving average of $167.97.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. The company had revenue of $185.56 million during the quarter, compared to analysts’ expectations of $190.25 million. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. On average, equities research analysts expect that Wingstop Inc. will post 4.5 earnings per share for the current fiscal year.

Wingstop Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Wingstop’s previous quarterly dividend of $0.30. Wingstop’s payout ratio is presently 31.35%.

Analysts Set New Price Targets

WING has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on Wingstop from $170.00 to $165.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Piper Sandler set a $173.00 price objective on Wingstop in a research report on Wednesday, July 29th. Royal Bank Of Canada dropped their price objective on Wingstop from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Robert W. Baird upgraded shares of Wingstop to a “strong-buy” rating in a report on Monday. Finally, UBS Group restated a “neutral” rating on shares of Wingstop in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $241.81.

Wingstop Company 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.