Wingstop Inc. (NASDAQ:WING) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in Wingstop Inc. (NASDAQ:WING) by 22.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,645 shares of the restaurant operator’s stock after selling 466 shares during the period. Corient Private Wealth LLC’s holdings in Wingstop were worth $468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of WING. Proficio Capital Partners LLC acquired a new stake in shares of Wingstop in the fourth quarter valued at approximately $10,177,000. SG Americas Securities LLC raised its stake in shares of Wingstop by 277.5% during the fourth quarter. SG Americas Securities LLC now owns 4,771 shares of the restaurant operator’s stock worth $1,356,000 after purchasing an additional 3,507 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Wingstop by 779.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 18,461 shares of the restaurant operator’s stock valued at $5,247,000 after acquiring an additional 16,361 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Wingstop by 475.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 69,234 shares of the restaurant operator’s stock worth $19,676,000 after purchasing an additional 57,193 shares in the last quarter. Finally, Conway Capital Management Inc. acquired a new stake in Wingstop in the third quarter valued at about $3,544,000.

Wall Street Analysts Forecast Growth

WING has been the subject of a number of analyst reports. TD Securities cut their target price on Wingstop from $365.00 to $305.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. UBS Group lowered their target price on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company began coverage on shares of Wingstop in a research note on Wednesday. They issued an “overweight” rating and a $270.00 target price for the company. Wedbush reduced their price target on Wingstop from $390.00 to $355.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Stifel Nicolaus lowered their price target on Wingstop from $375.00 to $350.00 and set a “buy” rating for the company in a report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.68.

Wingstop Price Performance

Wingstop stock opened at $224.00 on Friday. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of 60.38, a PEG ratio of 2.27 and a beta of 1.88. The company’s fifty day moving average price is $257.45 and its two-hundred day moving average price is $312.53. Wingstop Inc. has a one year low of $205.60 and a one year high of $433.86.

Wingstop Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.48%. Wingstop’s dividend payout ratio (DPR) is presently 29.11%.

Wingstop declared that its Board of Directors has approved a share repurchase program on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the restaurant operator to repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wingstop Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.