Mirae Asset Global Investments Co. Ltd. Acquires 48,681 Shares of Wingstop Inc. $WING

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Wingstop Inc. (NASDAQ:WING) by 2,955.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,328 shares of the restaurant operator’s stock after acquiring an additional 48,681 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.18% of Wingstop worth $12,003,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WING. Lone Pine Capital LLC purchased a new position in Wingstop during the 3rd quarter valued at approximately $375,317,000. Steadfast Capital Management LP grew its holdings in Wingstop by 296.2% during the 3rd quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock valued at $239,227,000 after buying an additional 710,621 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Wingstop by 48.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator’s stock valued at $335,292,000 after buying an additional 456,861 shares in the last quarter. Capital World Investors grew its holdings in Wingstop by 160.6% during the 3rd quarter. Capital World Investors now owns 740,896 shares of the restaurant operator’s stock valued at $186,469,000 after buying an additional 456,637 shares in the last quarter. Finally, Wasatch Advisors LP purchased a new position in Wingstop during the 2nd quarter valued at approximately $114,758,000.

Wingstop Price Performance

NASDAQ:WING opened at $196.34 on Monday. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 2.21 and a beta of 2.03. Wingstop Inc. has a 1 year low of $142.24 and a 1 year high of $388.14. The business has a 50 day simple moving average of $207.90 and a 200-day simple moving average of $237.79.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.16. The business had revenue of $175.69 million during the quarter, compared to analyst estimates of $177.74 million. Wingstop had a negative return on equity of 16.12% and a net margin of 25.01%.The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. As a group, analysts expect that Wingstop Inc. will post 4.18 earnings per share for the current fiscal year.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, March 6th. Wingstop’s dividend payout ratio (DPR) is presently 19.42%.

Insider Activity at Wingstop

In other news, Director Kilandigalu Madati sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $260.73, for a total value of $703,971.00. Following the completion of the sale, the director directly owned 2,583 shares of the company’s stock, valued at $673,465.59. This trade represents a 51.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wesley S. Mcdonald sold 566 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $250.00, for a total value of $141,500.00. Following the completion of the sale, the director directly owned 4,375 shares of the company’s stock, valued at $1,093,750. The trade was a 11.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WING shares. Morgan Stanley cut their price target on Wingstop from $345.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, April 6th. DA Davidson started coverage on Wingstop in a report on Friday, March 6th. They set a “buy” rating and a $330.00 price target for the company. Wall Street Zen upgraded Wingstop from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Stephens restated an “overweight” rating and set a $375.00 price target on shares of Wingstop in a report on Thursday, February 19th. Finally, Piper Sandler upgraded Wingstop from a “neutral” rating to an “overweight” rating and cut their price target for the company from $283.00 to $190.00 in a report on Thursday, April 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Wingstop has an average rating of “Moderate Buy” and a consensus target price of $311.76.

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.