ING Groep NV acquired a new stake in The Wendy's Company (NASDAQ:WEN - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 59,000 shares of the restaurant operator's stock, valued at approximately $1,034,000.
Several other large investors also recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its holdings in Wendy's by 5.6% during the first quarter. Janney Montgomery Scott LLC now owns 15,170 shares of the restaurant operator's stock worth $286,000 after purchasing an additional 801 shares during the period. Vanguard Group Inc. grew its stake in shares of Wendy's by 6.4% during the first quarter. Vanguard Group Inc. now owns 21,097,095 shares of the restaurant operator's stock worth $397,469,000 after buying an additional 1,273,140 shares during the last quarter. Covestor Ltd grew its stake in shares of Wendy's by 23.9% in the first quarter. Covestor Ltd now owns 6,575 shares of the restaurant operator's stock worth $124,000 after purchasing an additional 1,269 shares during the last quarter. Bessemer Group Inc. boosted its position in Wendy's by 483.2% during the first quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator's stock valued at $35,000 after acquiring an additional 1,551 shares during the last quarter. Finally, Cadence Bank raised its holdings in shares of Wendy's by 48.3% during the first quarter. Cadence Bank now owns 420,395 shares of the restaurant operator's stock valued at $7,920,000 after purchasing an additional 136,982 shares during the period. 85.96% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on WEN shares. Stifel Nicolaus reduced their price objective on shares of Wendy's from $20.00 to $19.00 and set a "hold" rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Wendy's from $20.00 to $22.00 and gave the stock a "neutral" rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wendy's from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Friday, August 2nd. Tigress Financial reiterated a "buy" rating and set a $29.00 price target on shares of Wendy's in a research report on Wednesday, September 4th. Finally, Truist Financial upped their target price on shares of Wendy's from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wendy's presently has a consensus rating of "Hold" and an average price target of $20.36.
Check Out Our Latest Stock Report on WEN
Wendy's Trading Down 0.4 %
Shares of NASDAQ:WEN traded down $0.07 during trading on Monday, reaching $18.05. The stock had a trading volume of 3,256,314 shares, compared to its average volume of 3,528,351. The business has a fifty day moving average price of $18.49 and a 200-day moving average price of $17.66. The company has a quick ratio of 2.08, a current ratio of 2.10 and a debt-to-equity ratio of 12.64. The stock has a market cap of $3.68 billion, a P/E ratio of 19.07, a PEG ratio of 2.52 and a beta of 0.79. The Wendy's Company has a fifty-two week low of $15.61 and a fifty-two week high of $20.65.
Wendy's (NASDAQ:WEN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. Wendy's had a net margin of 8.76% and a return on equity of 70.02%. The company had revenue of $566.70 million during the quarter, compared to the consensus estimate of $560.50 million. During the same period in the previous year, the firm earned $0.27 earnings per share. Wendy's's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, analysts anticipate that The Wendy's Company will post 0.99 earnings per share for the current fiscal year.
Wendy's Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 5.54%. Wendy's's payout ratio is 105.26%.
Wendy's Profile
(
Free Report)
The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.
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