Teacher Retirement System of Texas Sells 41,477 Shares of The Wendy's Company (NASDAQ:WEN)

Teacher Retirement System of Texas cut its position in shares of The Wendy's Company (NASDAQ:WEN - Free Report) by 59.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,849 shares of the restaurant operator's stock after selling 41,477 shares during the quarter. Teacher Retirement System of Texas' holdings in Wendy's were worth $454,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Wendy's by 670.3% during the 4th quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator's stock worth $25,000 after buying an additional 1,220 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Wendy's during the fourth quarter worth $30,000. GAMMA Investing LLC grew its stake in shares of Wendy's by 168.1% in 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. Bartlett & CO. Wealth Management LLC increased its position in Wendy's by 46.4% in the 4th 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 in the last quarter. Finally, Transcendent Capital Group LLC raised its position in shares of Wendy's by 2,334.5% during the fourth quarter. Transcendent Capital Group LLC now owns 4,869 shares of the restaurant operator's stock worth $79,000 after purchasing an additional 4,669 shares during the period. Institutional investors own 85.96% of the company's stock.

Remove Ads

Wendy's Price Performance

Shares of WEN stock traded down $0.58 during trading hours on Thursday, hitting $14.07. 5,333,481 shares of the company's stock were exchanged, compared to its average volume of 4,085,927. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48. The Wendy's Company has a 12-month low of $13.72 and a 12-month high of $20.65. The business's 50 day simple moving average is $14.99 and its 200-day simple moving average is $16.71. The company has a market capitalization of $2.82 billion, a PE ratio of 14.81, a PEG ratio of 2.00 and a beta of 0.61.

Wendy's (NASDAQ:WEN - Get Free Report) last announced its quarterly earnings data 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 return on equity of 75.56% and a net margin of 8.65%. The firm had revenue of $574.27 million for the quarter, compared to analysts' expectations of $564.17 million. On average, equities research analysts anticipate that The Wendy's Company will post 0.99 earnings per share for the current year.

Wendy's Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date was Monday, March 3rd. Wendy's's dividend payout ratio (DPR) is presently 105.26%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WEN shares. Barclays lifted their target price on Wendy's from $16.00 to $17.00 and gave the company an "equal weight" rating in a research report on Friday, March 7th. Truist Financial reduced their price target on shares of Wendy's from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Morgan Stanley reissued an "underweight" rating and issued a $14.00 target price (down from $22.00) on shares of Wendy's in a research report on Tuesday, January 21st. Stifel Nicolaus dropped their price objective on shares of Wendy's from $17.00 to $16.00 and set a "hold" rating on the stock in a report on Wednesday, February 19th. Finally, UBS Group raised their price objective on shares of Wendy's from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $18.08.

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.