Arrowstreet Capital Limited Partnership Sells 592,574 Shares of The Wendy's Company (NASDAQ:WEN)

Arrowstreet Capital Limited Partnership lessened its stake in The Wendy's Company (NASDAQ:WEN - Free Report) by 32.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,223,824 shares of the restaurant operator's stock after selling 592,574 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.60% of Wendy's worth $19,948,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pictet Asset Management Holding SA increased its position in Wendy's by 8.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 22,250 shares of the restaurant operator's stock worth $363,000 after buying an additional 1,805 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Wendy's during the 4th quarter worth approximately $67,000. Norges Bank bought a new stake in Wendy's in the 4th quarter valued at $4,318,000. Elo Mutual Pension Insurance Co acquired a new stake in Wendy's during the 4th quarter valued at $217,000. Finally, WINTON GROUP Ltd acquired a new stake in Wendy's during the 4th quarter valued at $302,000. Institutional investors own 85.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WEN shares. The Goldman Sachs Group cut their target price on shares of Wendy's from $17.00 to $15.00 and set a "sell" rating for the company in a research note on Thursday, February 6th. Argus raised Wendy's to a "strong-buy" rating in a research report on Tuesday, February 18th. Truist Financial dropped their price target on Wendy's from $22.00 to $19.00 and set a "buy" rating for the company in a report on Friday, February 14th. Morgan Stanley reaffirmed an "underweight" rating and issued a $14.00 price objective (down from $22.00) on shares of Wendy's in a report on Tuesday, January 21st. Finally, Wedbush reissued a "neutral" rating and set a $16.00 target price on shares of Wendy's in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $18.08.

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Wendy's Price Performance

Shares of WEN stock traded down $0.77 on Friday, reaching $13.30. The company had a trading volume of 6,413,885 shares, compared to its average volume of 4,111,681. The business's 50-day moving average is $14.97 and its 200 day moving average is $16.65. The Wendy's Company has a one year low of $13.22 and a one year high of $20.65. 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 stock has a market capitalization of $2.67 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 2.00 and a beta of 0.61.

Wendy's (NASDAQ:WEN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The restaurant operator reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $574.27 million during the quarter, compared to the consensus estimate of $564.17 million. Wendy's had a net margin of 8.65% and a return on equity of 75.56%. Equities research analysts forecast that The Wendy's Company will post 0.99 EPS for the current fiscal year.

Wendy's Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.25 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 7.52%. Wendy's's payout ratio is presently 105.26%.

About Wendy's

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.