Norges Bank Invests $4.32 Million in The Wendy's Company (NASDAQ:WEN)

Norges Bank bought a new stake in shares of The Wendy's Company (NASDAQ:WEN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 264,911 shares of the restaurant operator's stock, valued at approximately $4,318,000. Norges Bank owned about 0.13% of Wendy's as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in shares of Wendy's by 670.3% during the fourth quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 1,220 shares during the period. SBI Securities Co. Ltd. purchased a new position in Wendy's during the 4th quarter valued at $30,000. GAMMA Investing LLC raised its holdings in Wendy's by 168.1% in the 4th quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator's stock worth $36,000 after purchasing an additional 1,400 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Wendy's in the 4th quarter worth about $46,000. Finally, Bartlett & CO. Wealth Management LLC increased its position in shares of Wendy's by 46.4% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 3,107 shares of the restaurant operator's stock valued at $51,000 after buying an additional 985 shares during the period. 85.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WEN. Stephens reaffirmed an "equal weight" rating and set a $15.00 price objective on shares of Wendy's in a research report on Thursday. Citigroup upped their price objective on Wendy's from $15.50 to $16.50 and gave the company a "neutral" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $17.00 price target (down from $20.00) on shares of Wendy's in a research note on Wednesday, February 26th. Barclays boosted their price target on Wendy's from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Friday, March 7th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $17.00 price objective on shares of Wendy's in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.08.

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Wendy's Price Performance

NASDAQ WEN traded up $0.27 during trading on Monday, hitting $13.06. 2,572,952 shares of the stock traded hands, compared to its average volume of 4,178,147. The company has a quick ratio of 1.83, a current ratio of 1.85 and a debt-to-equity ratio of 12.48. The Wendy's Company has a 12-month low of $12.05 and a 12-month high of $20.65. The firm has a 50-day simple moving average of $14.69 and a 200-day simple moving average of $16.42. The company has a market capitalization of $2.56 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 2.00 and a beta of 0.61.

Wendy's (NASDAQ:WEN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. Wendy's had a net margin of 8.65% and a return on equity of 75.56%. The company had revenue of $574.27 million for the quarter, compared to the consensus estimate of $564.17 million. As a group, analysts predict that The Wendy's Company will post 0.99 EPS for the current year.

Wendy's Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date was Monday, March 3rd. Wendy's's dividend payout ratio (DPR) is 105.26%.

Wendy's Company Profile

The Wendy's Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy's U.S., Wendy's International, and Global Real Estate and Development. The Wendy's U.S. segment includes the operation and franchising of Wendy's restaurants in the U.S.