Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, its Investor Class fund ARTSX returned 3.23%, Advisor Class fund APDSX posted a return of 3.27%, and Institutional Class fund APHSX returned 3.27%, compared to a return of 0.24% for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
In the third-quarter letter, Artisan Partners discussed stocks like Wingstop Inc. (NASDAQ:WING). Headquartered in Addison, Texas, Wingstop Inc. (NASDAQ:WING) is a restaurant company that operates under the brand name Wingstop. On November 10, 2022, Wingstop Inc. (NASDAQ:WING) stock closed at $167.23 per share. One-month return of Wingstop Inc. (NASDAQ:WING) was 47.52% and its shares lost 1.52% of their value over the last 52 weeks. Wingstop Inc. (NASDAQ:WING) has a market capitalization of $5.003 billion.
Artisan Partners made the following comment about Wingstop Inc. (NASDAQ:WING) in its Q3 2022 investor letter:
"Wingstop Inc. (NASDAQ:WING) is a quick-service restaurant franchisor specializing in fresh, cooked-to-order chicken wings and fries. The company recently added a record number of new stores, which we find encouraging given our thesis is primarily predicated on the company growing its store footprint. Meanwhile, falling wing prices, menu innovation (chicken sandwich rollout in September, new flavors) and a ramp-up in advertising should fuel growth in the upcoming periods."
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 11 best restaurant 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.
Disclosure: None. This article is originally published at Insider Monkey.