Maverick Capital Ltd. Sells 2,413 Shares of Wingstop Inc. (NASDAQ:WING)

Maverick Capital Ltd. reduced its stake in Wingstop Inc. (NASDAQ:WING - Free Report) by 32.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,956 shares of the restaurant operator's stock after selling 2,413 shares during the quarter. Maverick Capital Ltd.'s holdings in Wingstop were worth $2,062,000 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. Janus Henderson Group PLC boosted its position in Wingstop by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 16,442 shares of the restaurant operator's stock valued at $6,020,000 after buying an additional 81 shares during the period. Tidal Investments LLC purchased a new position in shares of Wingstop in the 1st quarter valued at about $1,248,000. Cetera Advisors LLC acquired a new stake in shares of Wingstop during the 1st quarter worth about $307,000. GAMMA Investing LLC boosted its position in shares of Wingstop by 136.5% in the 2nd quarter. GAMMA Investing LLC now owns 272 shares of the restaurant operator's stock valued at $115,000 after purchasing an additional 157 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Wingstop by 60.3% during the second 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.

Wingstop Price Performance

WING traded down $2.50 on Friday, reaching $328.77. 215,536 shares of the company traded hands, compared to its average volume of 560,424. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 95.85, a PEG ratio of 3.06 and a beta of 1.76. The stock's 50 day moving average price is $363.05 and its 200-day moving average price is $380.53. Wingstop Inc. has a 52-week low of $238.06 and a 52-week high of $433.86.

Wingstop (NASDAQ:WING - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.09). Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The firm had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The firm's quarterly revenue was up 38.8% compared to the same quarter last year. As a group, equities research analysts forecast that Wingstop Inc. will post 3.68 earnings per share for the current fiscal year.

Wingstop Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.27 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 0.33%. Wingstop's dividend payout ratio (DPR) is presently 31.49%.

Analyst Ratings Changes

A number of research firms recently issued reports on WING. TD Cowen lowered their price target on Wingstop from $450.00 to $365.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Stephens reduced their price objective on shares of Wingstop from $490.00 to $468.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. BTIG Research raised Wingstop from a "neutral" rating to a "buy" rating and set a $370.00 target price for the company in a research note on Thursday, October 31st. Northcoast Research upgraded shares of Wingstop from a "neutral" rating to a "buy" rating and set a $350.00 target price on the stock in a research report on Friday, November 1st. Finally, Benchmark upgraded shares of Wingstop from a "hold" rating to a "buy" rating and set a $340.00 target price on the stock in a research report on Thursday, October 31st. Six equities research 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, Wingstop currently has an average rating of "Moderate Buy" and a consensus price target of $368.74.

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.