Wells Fargo & Company MN Lowers Stock Position in The Wendy's Company (NASDAQ:WEN)

Wells Fargo & Company MN decreased its holdings in The Wendy's Company (NASDAQ:WEN - Free Report) by 42.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,937 shares of the restaurant operator's stock after selling 72,745 shares during the quarter. Wells Fargo & Company MN's holdings in Wendy's were worth $1,629,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Trexquant Investment LP purchased a new position in Wendy's in the 4th quarter valued at $16,678,000. Assenagon Asset Management S.A. acquired a new stake in shares of Wendy's in the 4th quarter worth $13,358,000. Victory Capital Management Inc. boosted its holdings in shares of Wendy's by 93.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,591,281 shares of the restaurant operator's stock valued at $25,938,000 after acquiring an additional 766,910 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Wendy's during the fourth quarter worth about $8,031,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Wendy's by 7.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,303,279 shares of the restaurant operator's stock worth $102,743,000 after purchasing an additional 458,106 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Wendy's Stock Down 0.4 %

Shares of NASDAQ:WEN opened at $12.78 on Friday. The company has a quick ratio of 1.83, a current ratio of 1.85 and a debt-to-equity ratio of 12.48. The company has a market capitalization of $2.51 billion, a P/E ratio of 13.45, a P/E/G ratio of 2.00 and a beta of 0.61. The Wendy's Company has a 52-week low of $12.05 and a 52-week high of $20.65. The stock's fifty day simple moving average is $14.33 and its 200-day simple moving average is $16.09.

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, beating analysts' consensus estimates of $0.24 by $0.01. Wendy's had a net margin of 8.65% and a return on equity of 75.56%. The company had revenue of $574.27 million for the quarter, compared to analyst estimates of $564.17 million. As a group, equities research analysts forecast that The Wendy's Company will post 0.99 earnings per share for the current fiscal year.

Wendy's Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 7.82%. Wendy's's payout ratio is currently 105.26%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $17.00 target price (down previously from $20.00) on shares of Wendy's in a research report on Wednesday, February 26th. The Goldman Sachs Group dropped their price objective on Wendy's from $17.00 to $15.00 and set a "sell" rating on the stock in a report on Thursday, February 6th. Argus upgraded Wendy's to a "strong-buy" rating in a research report on Tuesday, February 18th. Citigroup boosted their target price on shares of Wendy's from $15.50 to $16.50 and gave the stock a "neutral" rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $17.00 price target on shares of Wendy's in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $17.69.

Wendy's Company Profile

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.

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