Corebridge Financial Inc. Sells 1,605 Shares of Wingstop Inc. (NASDAQ:WING)

Corebridge Financial Inc. decreased its holdings in shares of Wingstop Inc. (NASDAQ:WING) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 33,393 shares of the restaurant operator’s stock after selling 1,605 shares during the quarter. Corebridge Financial Inc.’s holdings in Wingstop were worth $9,490,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WING. EverSource Wealth Advisors LLC grew its stake in shares of Wingstop by 521.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 73 shares during the period. CBIZ Investment Advisory Services LLC increased its stake 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 last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Wingstop in the 4th quarter valued at approximately $30,000. True Wealth Design LLC bought a new position in Wingstop during the 3rd quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC boosted its stake in Wingstop by 34.9% during the 4th quarter. V Square Quantitative Management LLC now owns 143 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 37 shares during the last quarter.

Wingstop Stock Up 0.1 %

Shares of Wingstop stock opened at $220.37 on Thursday. The stock has a market cap of $6.32 billion, a P/E ratio of 59.40, a P/E/G ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a 12-month low of $205.60 and a 12-month high of $433.86. The business’s 50 day moving average is $259.33 and its 200-day moving average is $314.57.

Wingstop Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Friday, March 7th. Wingstop’s dividend payout ratio (DPR) is currently 29.11%.

Wingstop declared that its board has authorized a stock repurchase program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the restaurant operator to purchase 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WING shares. TD Securities reduced their price target on shares of Wingstop from $365.00 to $305.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. BMO Capital Markets lowered their price target on Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a report on Thursday, February 20th. UBS Group cut their price objective on Wingstop from $330.00 to $300.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Morgan Stanley lowered their target price on Wingstop from $389.00 to $375.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, Guggenheim raised shares of Wingstop from a “neutral” rating to a “buy” rating and set a $280.00 price target on the stock in a research note on Monday, February 24th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wingstop presently has a consensus rating of “Moderate Buy” and an average price target of $353.68.

About Wingstop

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.