Corient Private Wealth LLC Sells 466 Shares of Wingstop Inc. (NASDAQ:WING)

Corient Private Wealth LLC trimmed its stake in Wingstop Inc. (NASDAQ:WING) by 22.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,645 shares of the restaurant operator’s stock after selling 466 shares during the quarter. Corient Private Wealth LLC’s holdings in Wingstop were worth $468,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. True Wealth Design LLC bought a new stake in Wingstop during the 3rd quarter worth approximately $36,000. EverSource Wealth Advisors LLC grew its position in shares of Wingstop by 521.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 87 shares of the restaurant operator’s stock worth $25,000 after buying an additional 73 shares during the period. CBIZ Investment Advisory Services LLC lifted 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 purchasing an additional 35 shares during the period. SBI Securities Co. Ltd. bought a new stake in Wingstop in the fourth quarter valued at about $30,000. Finally, V Square Quantitative Management LLC lifted its stake in 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 buying an additional 37 shares during the period.

Analyst Ratings Changes

A number of research analysts recently issued reports on WING shares. Wells Fargo & Company started coverage on shares of Wingstop in a report on Wednesday. They set an “overweight” rating and a $270.00 price objective for the company. Northcoast Research lowered Wingstop from a “buy” rating to a “neutral” rating in a research report on Friday, February 21st. Benchmark decreased their price target on shares of Wingstop from $340.00 to $325.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. BMO Capital Markets decreased their price objective on Wingstop from $335.00 to $300.00 and set a “market perform” rating for the company in a report on Thursday, February 20th. Finally, Stephens reissued an “overweight” rating and set a $450.00 price target on shares of Wingstop in a research report on Wednesday, February 19th. 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $353.68.

Wingstop Stock Down 2.3 %

Shares of Wingstop stock opened at $224.00 on Friday. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 60.38, a P/E/G ratio of 2.27 and a beta of 1.88. Wingstop Inc. has a twelve month low of $205.60 and a twelve month high of $433.86. The company’s fifty day moving average is $257.45 and its 200 day moving average is $312.53.

Wingstop Dividend Announcement

The company 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 was Friday, March 7th. This represents a $1.08 annualized dividend and a yield of 0.48%. Wingstop’s payout ratio is 29.11%.

Wingstop announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the restaurant operator to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are often an indication 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.