Wingstop (WING)

• Market cap: $8.43B
• 1 day: 1.75%
• 5 days: 5.18%
• 1 month: -0.76%
• 3 months: -21.30%
• 6 months: -25.09%
• Year to date: -1.21%
• 1 year: 1.89%
• 5 years: 209.25%
• 10 years: 843.22%
• Sector: Consumer Discretionary
• Industry: Eating Places

About: Founded in 1994 in Garland, Texas, Wingstop is a restaurant operator specializing in indulgent bone-in and boneless chicken wings, chicken tenders, fries, and, recently, chicken sandwiches. The firm's footprint has grown quickly since its inception, reaching north of 2,200 global stores at the end of 2023, rendering Wingstop the 31st-largest restaurant brand in the US by system sales, according to Euromonitor data. With a 98% franchised model, Wingstop generates the lion share of its revenue from franchise royalties and advertising fees, with the remainder derived from a small footprint of company-owned stores.

Employees: 1,225

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

68% more first-time investments, than exits

New positions opened: 79 | Existing positions closed: 47

6% more funds holding

Funds holding: 454 [Q2] → 481 (+27) [Q3]

6% more repeat investments, than reductions

Existing positions increased: 181 | Existing positions reduced: 171

2.74% less ownership

Funds ownership: 103.46% [Q2] → 100.72% (-2.74%) [Q3]

5% less capital invested

Capital invested by funds: $12.8B [Q2] → $12.2B (-$648M) [Q3]

14% less funds holding in top 10

Funds holding in top 10: 7 [Q2] → 6 (-1) [Q3]

44% less call options, than puts

Call options by funds: $284M | Put options by funds: $512M

Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $300 4% upside
• Avg. target: $376 30% upside
• High target: $468 62% upside

8 analyst ratings

• positive: 7 88%
• neutral: 1 13%
• negative: 0 0%

Morgan Stanley John Glass 38% 1-year accuracy 11 / 29 met price target	35% upside $389	Overweight Upgraded	21 Jan 2025
Stephens & Co. Jim Salera 37% 1-year accuracy 16 / 43 met price target	62% upside $468	Overweight Reiterated	2 Jan 2025
Wedbush Nick Setyan 56% 1-year accuracy 54 / 96 met price target	35% upside $390	Outperform Reiterated	8 Nov 2024
Goldman Sachs Christine Cho 60% 1-year accuracy 28 / 47 met price target	31% upside $377	Buy Upgraded	8 Nov 2024
Piper Sandler Brian Mullan 82% 1-year accuracy 9 / 11 met price target	4% upside $300	Neutral Maintained	4 Nov 2024