Should You Invest in Wingstop (WING)?

Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio returned 1.44% net of fees in the third quarter compared to -0.12% return for the Russell 2500 Growth Index. Stock selection is a significant factor in the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Polen Capital discussed stocks like Wingstop Inc. (NASDAQ:WING) in the Q3 2022 investor letter. Headquartered in Addison, Texas, Wingstop Inc. (NASDAQ:WING) is a restaurant company that operates under the brand name Wingstop. On October 26, 2022, Wingstop Inc. (NASDAQ:WING) stock closed at $155.45 per share. One-month return of Wingstop Inc. (NASDAQ:WING) was 23.48% and its shares lost 7.80% of their value over the last 52 weeks. Wingstop Inc. (NASDAQ:WING) has a market capitalization of $4.65 billion.

Polen Capital made the following comment about Wingstop Inc. (NASDAQ:WING) in its Q3 2022 investor letter:

“The top absolute contributors to the Portfolio’s performance over the quarter included Wingstop Inc. (NASDAQ:WING), The Trade Desk, and Paycom.

Wingstop, a franchised chicken wing restaurant chain, was the best performer in the period. The company reported better-than-expected results, highlighted exciting progress around international growth, and announced its intention to launch a chicken sandwich nationally. After a recent headquarter visit, we believe there are many favorable tailwinds for the business despite the worsening consumer outlook.”

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Wingstop Inc. (NASDAQ:WING) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Wingstop Inc. (NASDAQ:WING) at the end of the second quarter which was 21 in the previous quarter.

We discussed Wingstop Inc. (NASDAQ:WING) in another article and shared the list of best fast food stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.