C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1.73 Million in The Wendy's Company (NASDAQ:WEN)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in The Wendy's Company (NASDAQ:WEN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 106,321 shares of the restaurant operator's stock, valued at approximately $1,733,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned approximately 0.05% of Wendy's as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Retirement Systems of Alabama grew its stake in Wendy's by 16.9% during the third quarter. Retirement Systems of Alabama now owns 711,267 shares of the restaurant operator's stock worth $12,461,000 after buying an additional 102,769 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in Wendy's during the fourth quarter worth about $357,000. Assenagon Asset Management S.A. acquired a new stake in Wendy's during the fourth quarter worth about $13,358,000. Quantinno Capital Management LP grew its stake in Wendy's by 90.8% during the third quarter. Quantinno Capital Management LP now owns 109,747 shares of the restaurant operator's stock worth $1,923,000 after buying an additional 52,225 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in Wendy's during the fourth quarter worth about $464,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wendy's Trading Down 0.2 %

NASDAQ WEN traded down $0.03 on Friday, reaching $15.21. The company had a trading volume of 6,266,642 shares, compared to its average volume of 5,389,128. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 2.00 and a beta of 0.77. The Wendy's Company has a fifty-two week low of $13.72 and a fifty-two week high of $20.65. The business has a 50 day moving average of $15.32 and a two-hundred day moving average of $17.05. The company has a debt-to-equity ratio of 12.48, a current ratio of 1.85 and a quick ratio of 1.83.

Remove Ads

Wendy's (NASDAQ:WEN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 75.56% and a net margin of 8.65%. Analysts forecast that The Wendy's Company will post 0.99 EPS for the current year.

Wendy's Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 6.57%. Wendy's's payout ratio is currently 105.26%.

Analyst Ratings Changes

A number of brokerages have issued reports on WEN. Barclays reduced their price objective on shares of Wendy's from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Friday, February 14th. Stifel Nicolaus reduced their price objective on shares of Wendy's from $17.00 to $16.00 and set a "hold" rating on the stock in a research note on Wednesday. Morgan Stanley reiterated an "underweight" rating and set a $14.00 price objective (down from $22.00) on shares of Wendy's in a research note on Tuesday, January 21st. BMO Capital Markets increased their target price on shares of Wendy's from $19.00 to $20.00 and gave the stock a "market perform" rating in a report on Friday, November 1st. Finally, Argus raised shares of Wendy's to a "strong-buy" rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $18.81.

About Wendy's

The Wendy's Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid's meals.