Quest Partners LLC Increases Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Quest Partners LLC increased its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 10.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,822 shares of the restaurant operator’s stock after buying an additional 256 shares during the period. Quest Partners LLC’s holdings in Wingstop were worth $1,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fulton Bank N.A. raised its stake in Wingstop by 5.0% in the 3rd quarter. Fulton Bank N.A. now owns 547 shares of the restaurant operator’s stock valued at $228,000 after purchasing an additional 26 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Wingstop by 3.7% in the 2nd quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after acquiring an additional 29 shares during the last quarter. Dark Forest Capital Management LP increased its stake in shares of Wingstop by 4.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock worth $318,000 after acquiring an additional 31 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Wingstop by 60.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after acquiring an additional 35 shares during the last quarter. Finally, Hollencrest Capital Management increased its stake in shares of Wingstop by 53.8% in the 3rd quarter. Hollencrest Capital Management now owns 100 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 35 shares during the last quarter.

Wall Street Analyst Weigh In

WING has been the subject of a number of recent research reports. Truist Financial raised their target price on Wingstop from $407.00 to $423.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Raymond James raised Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Thursday, August 1st. Barclays lowered their price target on Wingstop from $470.00 to $380.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and set a $390.00 price target on shares of Wingstop in a report on Tuesday, November 5th. Finally, TD Cowen lowered their price target on Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.74.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $335.58 on Wednesday. Wingstop Inc. has a fifty-two week low of $227.54 and a fifty-two week high of $433.86. The firm has a market capitalization of $9.80 billion, a PE ratio of 97.84, a price-to-earnings-growth ratio of 2.95 and a beta of 1.76. The stock’s 50-day simple moving average is $374.77 and its 200-day simple moving average is $383.66.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.09). The firm had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. On average, sell-side analysts forecast that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, November 15th. Wingstop’s dividend payout ratio (DPR) is 31.49%.

Wingstop 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.