State Street Corp Raises Stake in The Wendy's Company (NASDAQ:WEN)

State Street Corp raised its holdings in The Wendy's Company (NASDAQ:WEN - Free Report) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,187,593 shares of the restaurant operator's stock after acquiring an additional 37,801 shares during the quarter. State Street Corp owned approximately 2.54% of Wendy's worth $90,887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new position in Wendy's during the second quarter valued at approximately $27,000. Quarry LP acquired a new stake in shares of Wendy's in the second quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in shares of Wendy's during the 2nd quarter worth $33,000. Signaturefd LLC grew its holdings in shares of Wendy's by 94.7% during the 2nd quarter. Signaturefd LLC now owns 2,644 shares of the restaurant operator's stock worth $45,000 after purchasing an additional 1,286 shares during the period. Finally, AM Squared Ltd acquired a new position in shares of Wendy's in the 3rd quarter worth approximately $49,000. 85.96% of the stock is currently owned by institutional investors.

Wendy's Price Performance

Shares of WEN traded up $0.17 on Tuesday, reaching $17.06. The stock had a trading volume of 3,171,852 shares, compared to its average volume of 3,524,251. The firm has a 50-day moving average of $18.66 and a 200 day moving average of $17.58. The firm has a market capitalization of $3.48 billion, a PE ratio of 17.95, a PEG ratio of 2.42 and a beta of 0.77. The Wendy's Company has a twelve month low of $15.61 and a twelve month high of $20.65. The company has a quick ratio of 2.08, a current ratio of 2.10 and a debt-to-equity ratio of 12.64.

Wendy's (NASDAQ:WEN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The restaurant operator reported $0.25 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 business had revenue of $566.70 million for the quarter, compared to analyst estimates of $560.50 million. During the same period in the previous year, the firm earned $0.27 EPS. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts expect that The Wendy's Company will post 0.99 EPS for the current year.

Wendy's Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend was Monday, December 2nd. Wendy's's dividend payout ratio is presently 105.26%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wedbush reaffirmed a "neutral" rating and set a $20.00 target price on shares of Wendy's in a research note on Friday, November 1st. Truist Financial upped their price objective on Wendy's from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Tigress Financial restated a "buy" rating and issued a $29.00 target price on shares of Wendy's in a report on Wednesday, September 4th. Citigroup lifted their target price on Wendy's from $18.00 to $18.75 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Wendy's from $20.00 to $22.00 and gave the stock a "neutral" rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $20.36.

About Wendy's

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.