Corebridge Financial Inc. Trims Stock Holdings in Wingstop Inc. (NASDAQ:WING)

Corebridge Financial Inc. trimmed its holdings in shares of Wingstop Inc. (NASDAQ:WING - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,393 shares of the restaurant operator's stock after selling 1,605 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Wingstop worth $9,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of Wingstop by 521.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator's stock valued at $25,000 after purchasing an additional 73 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of Wingstop by 62.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 91 shares of the restaurant operator's stock valued at $26,000 after acquiring an additional 35 shares during the period. SBI Securities Co. Ltd. purchased a new position in Wingstop in the 4th quarter worth $30,000. True Wealth Design LLC acquired a new stake in Wingstop during the 3rd quarter worth about $36,000. Finally, V Square Quantitative Management LLC increased its holdings 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 during the period.

Analyst Ratings Changes

WING has been the topic of a number of recent research reports. Stifel Nicolaus dropped their target price on Wingstop from $375.00 to $350.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Benchmark reduced their target price 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. UBS Group lowered their price target on shares of Wingstop from $330.00 to $300.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Guggenheim upgraded Wingstop from a "neutral" rating to a "buy" rating and set a $280.00 price objective for the company in a research note on Monday, February 24th. Finally, Northcoast Research downgraded Wingstop from a "buy" rating to a "neutral" rating in a research note on Friday, February 21st. Seven 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $353.68.

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Wingstop Price Performance

NASDAQ WING traded down $5.29 during trading hours on Friday, hitting $224.00. 1,059,289 shares of the company's stock traded hands, compared to its average volume of 546,828. The company has a market capitalization of $6.25 billion, a PE ratio of 60.38, a PEG ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a 52-week low of $205.60 and a 52-week high of $433.86. The firm's 50-day moving average is $257.45 and its 200-day moving average is $312.53.

Wingstop Announces Dividend

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

Wingstop announced that its Board of Directors has initiated a share buyback program on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.