The Wendy's Company (NASDAQ:WEN) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in The Wendy's Company (NASDAQ:WEN - Free Report) by 32.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 36,465 shares of the restaurant operator's stock after selling 17,609 shares during the period. Truist Financial Corp's holdings in Wendy's were worth $594,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in Wendy's by 1,562.9% during the 3rd quarter. International Assets Investment Management LLC now owns 32,710 shares of the restaurant operator's stock worth $573,000 after buying an additional 30,743 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Wendy's by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 19,827 shares of the restaurant operator's stock valued at $347,000 after acquiring an additional 1,345 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Wendy's by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 26,865 shares of the restaurant operator's stock worth $471,000 after purchasing an additional 995 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Wendy's during the 3rd quarter worth about $194,000. Finally, Fort Pitt Capital Group LLC raised its position in Wendy's by 12.6% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 245,595 shares of the restaurant operator's stock valued at $4,303,000 after purchasing an additional 27,558 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

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Wendy's Stock Performance

Shares of Wendy's stock traded down $0.07 on Thursday, reaching $14.88. 2,122,963 shares of the stock were exchanged, compared to its average volume of 3,847,373. The firm has a market capitalization of $2.98 billion, a PE ratio of 15.65, a PEG ratio of 2.00 and a beta of 0.77. The Wendy's Company has a 1-year low of $13.72 and a 1-year high of $20.65. The business has a fifty day moving average price of $15.14 and a two-hundred day moving average price of $16.97. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48.

Wendy's (NASDAQ:WEN - Get Free Report) last released its earnings results on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $574.27 million for the quarter, compared to analysts' expectations of $564.17 million. Wendy's had a return on equity of 75.56% and a net margin of 8.65%. As a group, research 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 declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.72%. Wendy's's dividend payout ratio (DPR) is presently 105.26%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Wendy's from $17.00 to $15.00 and set a "sell" rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $17.00 price objective on shares of Wendy's in a research report on Tuesday. Truist Financial cut their price target on Wendy's from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. UBS Group dropped their price target on shares of Wendy's from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays reduced their price objective on shares of Wendy's from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Wendy's has an average rating of "Hold" and a consensus target price of $18.34.

Wendy's Profile

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.