Miracle Mile Advisors LLC Purchases Shares of 21,877 The Wendy's Company (NASDAQ:WEN)

Miracle Mile Advisors LLC bought a new stake in The Wendy's Company (NASDAQ:WEN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,877 shares of the restaurant operator's stock, valued at approximately $357,000.

Several other hedge funds have also made changes to their positions in WEN. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wendy's during the 2nd quarter worth $27,000. Quarry LP purchased a new position in shares of Wendy's during the 2nd quarter worth about $30,000. GAMMA Investing LLC grew its stake in shares of Wendy's by 168.1% during the 4th quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator's stock valued at $36,000 after buying an additional 1,400 shares during the period. AM Squared Ltd acquired a new stake in Wendy's during the third quarter worth about $49,000. Finally, Signaturefd LLC lifted its position in Wendy's by 39.6% during the third quarter. Signaturefd LLC now owns 3,690 shares of the restaurant operator's stock valued at $65,000 after buying an additional 1,046 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Wendy's Price Performance

NASDAQ:WEN traded down $0.25 on Friday, reaching $14.60. The stock had a trading volume of 4,058,611 shares, compared to its average volume of 4,402,136. The company has a market capitalization of $2.98 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 2.01 and a beta of 0.78. The stock has a fifty day moving average price of $17.09 and a 200-day moving average price of $17.44. 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 Wendy's Company has a 1-year low of $14.57 and a 1-year high of $20.65.

Wendy's (NASDAQ:WEN - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share for the quarter, meeting analysts' consensus estimates of $0.25. The firm had revenue of $566.70 million during the quarter, compared to analysts' expectations of $560.50 million. Wendy's had a return on equity of 70.02% and a net margin of 8.76%. The business's revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. Research analysts forecast that The Wendy's Company will post 0.99 EPS for the current year.

Wendy's Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.85%. Wendy's's dividend payout ratio is 105.26%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. BMO Capital Markets increased their price target on Wendy's from $19.00 to $20.00 and gave the company a "market perform" rating in a report on Friday, November 1st. Truist Financial increased their price objective on Wendy's from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Stephens reaffirmed an "equal weight" rating and set a $19.00 price target on shares of Wendy's in a research note on Tuesday, November 19th. TD Cowen boosted their target price on shares of Wendy's from $17.00 to $19.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Finally, UBS Group decreased their price target on Wendy's from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wendy's has a consensus rating of "Hold" and an average target price of $19.99.

Wendy's Company Profile

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.