Should You Feel Excited About Wingstop (WING)’s Long-Term Runway?

Polen Capital, an investment management company, released its “Polen U.S. Small Company Growth Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered 10.46% gross and 10.22% net of fees compared to a 12.75% return for the Russell 2000 Growth Index. The firm views the performance in many respects as evidence of the stability of its investment approach in the face of frequent and significant market swings. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Polen U.S. Small Company Growth Strategy featured stocks such as Wingstop Inc. (NASDAQ:WING) in the fourth quarter 2023 investor letter. Headquartered in Addison, Texas, Wingstop Inc. (NASDAQ:WING) is a restaurant company that operates under the brand name Wingstop. On February 20, 2024, Wingstop Inc. (NASDAQ:WING) stock closed at $324.47 per share. One-month return of Wingstop Inc. (NASDAQ:WING) was 11.68%, and its shares gained 74.99% of their value over the last 52 weeks. Wingstop Inc. (NASDAQ:WING) has a market capitalization of $9.225 billion.

Polen U.S. Small Company Growth Strategy stated the following regarding Wingstop Inc. (NASDAQ:WING) in its fourth quarter 2023 investor letter:

“Wingstop Inc. (NASDAQ:WING) is the largest fast casual chicken wing-focused restaurant chain in the world with roughly 2,000 locations as of 2023. Over the course of this year, the company has continued to exceed expectations, delivering double-digit same store sales growth while expanding into new regions internationally. We continue to be excited about Wingstop’s long runway to open new stores coupled with a franchise business model that results in solid unit economics.”

Wingstop Inc. (NASDAQ:WING) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Wingstop Inc. (NASDAQ:WING) was held by 32 hedge fund portfolios, up from 28 in the previous quarter, according to our database.

We discussed Wingstop Inc. (NASDAQ:WING) in another article and shared Carillon Eagle Small Cap Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 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.