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Buffalo Wild Wings shares soar on report of takeover bid

15 November 2017

Buffalo Wild Wings has been hurt by rising chicken-wing prices.

Restaurant chain Buffalo Wild Wings Inc has received a takeover bid valued at more than $2.3 billion from private equity firm Roark Capital Group, the Wall Street Journal reported on Monday, citing people familiar with the matter. The restaurant operator reported $1.36 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.79 by $0.57. LS Investment Advisors LLC now owns 1,577 shares of the restaurant operator's stock worth $200,000 after purchasing an additional 131 shares during the last quarter.

A number of large investors have recently added to or reduced their stakes in BWLD.

"Buffalo Wild Wings could be appealing to Roark because of the brand's dominant positioning among sports-bars, potential to improve company-owned restaurant performance with better execution, and stable base of franchise income", O'Cull wrote. The value of the investment in BWLD increased from $17,000 to $5,363,000 a change of $5,346,000 quarter to quarter. Koch Industries Inc. purchased a new stake in Buffalo Wild Wings in the second quarter worth $618,000. In the last earnings report the EPS was $3.84 with 15.51M shares now outstanding.

TRADEMARK VIOLATION WARNING: "Buffalo Wild Wings, Inc". Victory Capital Management Inc. lifted its stake in Buffalo Wild Wings by 36.8% in the third quarter. The operating margin is 4.60% percent and the net profit margin stand at 3.20% percent. The firm had revenue of $496.70 million during the quarter, compared to analyst estimates of $500.97 million. Finally, Dimensional Fund Advisors LP lifted its stake in Buffalo Wild Wings by 6.0% in the 3rd quarter. The suitors were ultimately trumped by Restaurant Brands International Inc., which bought the fried-chicken brand for about $1.8 billion.

Buffalo Wild Wings has faced some turbulence over the a year ago, as the company struggles with high wing costs and declining sales at stores open for at least 15 months. If you are accessing this piece on another site, it was illegally copied and republished in violation of global copyright and trademark laws. Marcato wants Buffalo Wild Wings to expand its franchising efforts, while management had resisted that notion. The Company's restaurants offer 20 to 40 domestic and imported beers on tap, including craft brews, and a selection of bottled beers, wines and liquor.

Buffalo Wild Wings shares soar on report of takeover bid