Wingstop (WING) Performed Sustainably Both in Q4 and 2023

ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Strategy lagged behind the benchmark in the quarter due to the decline in consumer staples and health care, which was somewhat offset by strength in financials and industrials. The Strategy posted gains in six of the nine sectors in which it was invested on an absolute basis. Overall stock selection detracted from performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Small Cap Growth Strategy featured stocks such as Wingstop Inc. (NASDAQ:WING) in the fourth quarter 2023 investor letter. Headquartered in Addison, Texas, Wingstop Inc. (NASDAQ:WING) is a restaurant company that operates under the brand name Wingstop. On January 12, 2024, Wingstop Inc. (NASDAQ:WING) stock closed at $261.27 per share. One-month return of Wingstop Inc. (NASDAQ:WING) was 6.35%, and its shares gained 78.95% of their value over the last 52 weeks. Wingstop Inc. (NASDAQ:WING) has a market capitalization of $7.685 billion.

ClearBridge Small Cap Growth Strategy stated the following regarding Wingstop Inc. (NASDAQ:WING) in its fourth quarter 2023 investor letter:

“Finally, despite challenged overall performance within consumer discretionary, Wingstop Inc. (NASDAQ:WING) saw sustained outperformance both in the fourth quarter and for the full year as company-specific initiatives to drive traffic have led to strong same-store-sales growth.”

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Wingstop Inc. (NASDAQ:WING) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Wingstop Inc. (NASDAQ:WING) at the end of third quarter which was 31 in the previous quarter.

We discussed Wingstop Inc. (NASDAQ:WING) in another article and shared Artisan Partners’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.