Y Intercept Hong Kong Ltd acquired a new stake in shares of The Wendy's Company (NASDAQ:WEN - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 54,143 shares of the restaurant operator's stock, valued at approximately $949,000.
Several other large investors have also modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new position in Wendy's in the second quarter valued at $27,000. Quarry LP acquired a new position in shares of Wendy's in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC purchased a new stake in shares of Wendy's during the 2nd quarter worth about $33,000. Signaturefd LLC increased its position in 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 in the last quarter. Finally, AM Squared Ltd purchased a new position in Wendy's in the third quarter valued at approximately $49,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on WEN shares. Wolfe Research upgraded Wendy's to a "strong-buy" rating in a research note on Friday, September 13th. Tigress Financial reiterated a "buy" rating and set a $29.00 price objective on shares of Wendy's in a research note on Wednesday, September 4th. Wedbush reissued a "neutral" rating and set a $20.00 target price on shares of Wendy's in a research report on Friday, November 1st. Truist Financial raised their price target on shares of Wendy's from $21.00 to $22.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Wendy's from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $20.36.
Get Our Latest Research Report on WEN
Wendy's Trading Down 1.0 %
Shares of WEN traded down $0.18 during midday trading on Friday, hitting $17.11. The stock had a trading volume of 3,309,100 shares, compared to its average volume of 3,527,692. The business has a 50-day simple moving average of $18.69 and a two-hundred day simple moving average of $17.58. The firm has a market cap of $3.49 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The company has a current ratio of 2.10, a quick ratio of 2.08 and a debt-to-equity ratio of 12.64. The Wendy's Company has a fifty-two week low of $15.61 and a fifty-two week high of $20.65.
Wendy's (NASDAQ:WEN - Get Free Report) last issued its earnings results on Thursday, October 31st. The restaurant operator reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The business 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%. Wendy's's revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. As a group, equities analysts forecast that The Wendy's Company will post 0.99 EPS for the current year.
Wendy's Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 5.84%. Wendy's's dividend payout ratio is 105.26%.
Wendy's Company Profile
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Free Report)
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.
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