The Wendy’s Company (NASDAQ:WEN) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of The Wendy’s Company (NASDAQ:WEN) by 24.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,434 shares of the restaurant operator’s stock after selling 25,796 shares during the period. Amalgamated Bank’s holdings in Wendy’s were worth $1,409,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of WEN. Fort Pitt Capital Group LLC increased its stake in shares of Wendy’s by 12.6% during the third quarter. Fort Pitt Capital Group LLC now owns 245,595 shares of the restaurant operator’s stock worth $4,303,000 after buying an additional 27,558 shares during the period. Chicago Partners Investment Group LLC purchased a new position in Wendy’s in the third quarter valued at approximately $194,000. GW Henssler & Associates Ltd. purchased a new position in Wendy’s in the third quarter valued at approximately $187,000. Pallas Capital Advisors LLC boosted its holdings in shares of Wendy’s by 72.0% in the third quarter. Pallas Capital Advisors LLC now owns 66,843 shares of the restaurant operator’s stock valued at $1,171,000 after acquiring an additional 27,989 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Wendy’s by 3.8% in the third quarter. Nisa Investment Advisors LLC now owns 26,865 shares of the restaurant operator’s stock valued at $471,000 after acquiring an additional 995 shares during the period. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wendy’s Trading Up 0.2 %

Wendy’s stock opened at $18.42 on Thursday. The stock has a market cap of $3.75 billion, a PE ratio of 19.39, a P/E/G ratio of 2.56 and a beta of 0.79. The stock has a 50-day moving average price of $18.44 and a 200 day moving average price of $17.70. The Wendy’s Company has a 52 week low of $15.61 and a 52 week high of $20.65. The company has a current ratio of 2.10, a quick ratio of 2.08 and a debt-to-equity ratio of 12.64.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Thursday, October 31st. The restaurant operator reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. The firm 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%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date is Monday, December 2nd. Wendy’s’s dividend payout ratio is presently 105.26%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WEN. Truist Financial increased their price objective on Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus decreased their price target on Wendy’s from $20.00 to $19.00 and set a “hold” rating for the company in a report on Friday, August 2nd. BMO Capital Markets increased their price target on Wendy’s from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Tigress Financial reaffirmed a “buy” rating and set a $29.00 price target on shares of Wendy’s in a report on Wednesday, September 4th. Finally, Wedbush reaffirmed a “neutral” rating and set a $20.00 price target on shares of Wendy’s in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wendy’s currently has an average rating of “Hold” and a consensus target price 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.