California Public Employees Retirement System Cuts Stake in Wingstop Inc. (NASDAQ:WING)

California Public Employees Retirement System cut its position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,919 shares of the restaurant operator's stock after selling 3,007 shares during the period. California Public Employees Retirement System owned 0.18% of Wingstop worth $15,040,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Wingstop during the fourth quarter worth $115,301,000. Norges Bank acquired a new position in shares of Wingstop during the 4th quarter worth about $106,123,000. FMR LLC lifted its stake in Wingstop by 984.7% in the 3rd quarter. FMR LLC now owns 217,946 shares of the restaurant operator's stock valued at $90,683,000 after buying an additional 197,853 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Wingstop by 47.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 268,657 shares of the restaurant operator's stock worth $76,352,000 after buying an additional 86,077 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Wingstop by 20.5% during the 3rd quarter. Two Sigma Advisers LP now owns 418,418 shares of the restaurant operator's stock worth $174,095,000 after buying an additional 71,300 shares in the last quarter.

Wingstop Stock Down 4.9 %

NASDAQ:WING traded down $11.36 during trading hours on Monday, reaching $221.00. 1,404,304 shares of the company's stock were exchanged, compared to its average volume of 566,010. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 59.57, a P/E/G ratio of 2.27 and a beta of 2.02. Wingstop Inc. has a 1-year low of $205.60 and a 1-year high of $433.86. The company has a 50-day moving average of $252.80 and a 200 day moving average of $305.95.

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Wingstop Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, March 7th. Wingstop's dividend payout ratio is currently 29.11%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WING shares. Jefferies Financial Group upgraded Wingstop from a "hold" rating to a "buy" rating and set a $270.00 target price on the stock in a research report on Monday, March 31st. Robert W. Baird lowered their target price on shares of Wingstop from $375.00 to $350.00 and set an "outperform" rating on the stock in a research note on Monday. Wedbush reduced their target price on shares of Wingstop from $390.00 to $355.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. BMO Capital Markets lowered their price target on shares of Wingstop from $335.00 to $300.00 and set a "market perform" rating on the stock in a research report on Thursday, February 20th. Finally, TD Securities cut their price objective on shares of Wingstop from $365.00 to $305.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $348.23.

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.