Wingstop Inc. (NASDAQ:WING) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its position in Wingstop Inc. (NASDAQ:WING) by 6.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 540,061 shares of the restaurant operator’s stock after selling 39,641 shares during the period. Clearbridge Investments LLC’s holdings in Wingstop were worth $153,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC lifted its stake in shares of Wingstop by 3.9% in the fourth quarter. Verdence Capital Advisors LLC now owns 902 shares of the restaurant operator’s stock worth $256,000 after buying an additional 34 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Wingstop by 0.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,523 shares of the restaurant operator’s stock worth $4,794,000 after purchasing an additional 35 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Wingstop by 62.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 35 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of Wingstop by 34.9% in the fourth quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 37 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Wingstop by 0.5% in the fourth quarter. Arizona State Retirement System now owns 8,499 shares of the restaurant operator’s stock valued at $2,415,000 after purchasing an additional 42 shares during the last quarter.

Wingstop Stock Performance

Shares of WING stock opened at $224.00 on Monday. The stock has a market capitalization of $6.25 billion, a P/E ratio of 60.38, a price-to-earnings-growth ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $433.86. The company has a 50 day moving average price of $257.45 and a 200 day moving average price of $311.98.

Wingstop declared that its board has approved a stock buyback program on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the restaurant operator to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wingstop Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, March 7th. Wingstop’s dividend payout ratio is currently 29.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Guggenheim raised Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price objective on the stock in a research note on Monday, February 24th. Raymond James reissued an “outperform” rating and set a $330.00 price target (down previously from $375.00) on shares of Wingstop in a research report on Tuesday, January 28th. Stephens restated an “overweight” rating and set a $450.00 price objective on shares of Wingstop in a research report on Wednesday, February 19th. Barclays decreased their target price on shares of Wingstop from $359.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Finally, Benchmark cut their price target on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.68.

Wingstop Company 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.