Maverick Capital Ltd. Has $3.12 Million Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Maverick Capital Ltd. reduced its stake in shares of Wingstop Inc. (NASDAQ:WING) by 44.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,369 shares of the restaurant operator’s stock after selling 5,908 shares during the period. Maverick Capital Ltd.’s holdings in Wingstop were worth $3,115,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WING. Dark Forest Capital Management LP raised its holdings in shares of Wingstop by 4.3% during the second 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 period. AQR Capital Management LLC raised its stake in shares of Wingstop by 66.6% in the 2nd quarter. AQR Capital Management LLC now owns 325,920 shares of the restaurant operator’s stock valued at $137,753,000 after purchasing an additional 130,248 shares during the period. Bank of Montreal Can lifted its holdings in shares of Wingstop by 49.5% in the second quarter. Bank of Montreal Can now owns 50,495 shares of the restaurant operator’s stock valued at $21,543,000 after purchasing an additional 16,712 shares in the last quarter. Nippon Life Global Investors Americas Inc. boosted its position in shares of Wingstop by 30.2% during the second quarter. Nippon Life Global Investors Americas Inc. now owns 820 shares of the restaurant operator’s stock worth $347,000 after buying an additional 190 shares during the period. Finally, Delap Wealth Advisory LLC bought a new position in shares of Wingstop during the second quarter worth about $473,000.

Wall Street Analyst Weigh In

WING has been the topic of several research reports. Piper Sandler boosted their target price on Wingstop from $353.00 to $375.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Stephens restated an “overweight” rating and set a $475.00 target price on shares of Wingstop in a report on Wednesday, August 14th. Barclays lifted their price target on shares of Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wedbush increased their price objective on shares of Wingstop from $425.00 to $440.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus raised their price objective on Wingstop from $420.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $379.53.

Insider Buying and Selling

In related news, SVP Donnie Upshaw sold 3,199 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total value of $1,192,299.29. Following the completion of the sale, the senior vice president now directly owns 97 shares in the company, valued at approximately $36,152.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.36% of the stock is currently owned by insiders.

Wingstop Price Performance

NASDAQ:WING opened at $426.46 on Friday. The company has a market cap of $12.50 billion, a P/E ratio of 151.77, a P/E/G ratio of 4.26 and a beta of 1.71. The firm’s fifty day moving average price is $385.89 and its two-hundred day moving average price is $383.01. Wingstop Inc. has a one year low of $170.83 and a one year high of $433.86.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $155.70 million for the quarter, compared to analyst estimates of $146.04 million. Wingstop had a net margin of 17.33% and a negative return on equity of 21.18%. Wingstop’s quarterly revenue was up 45.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 EPS. As a group, equities research analysts expect that Wingstop Inc. will post 3.78 earnings per share for the current year.

Wingstop Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.25%. This is a positive change from Wingstop’s previous quarterly dividend of $0.22. Wingstop’s dividend payout ratio (DPR) is 38.43%.

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.