The Wendy’s Company (NASDAQ:WEN) Stock Holdings Increased by State Street Corp

State Street Corp lifted its stake in The Wendy’s Company (NASDAQ:WEN) by 0.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,187,593 shares of the restaurant operator’s stock after purchasing an additional 37,801 shares during the quarter. State Street Corp owned 2.54% of Wendy’s worth $90,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Maverick Capital Ltd. increased its holdings in Wendy’s by 98.2% in the second quarter. Maverick Capital Ltd. now owns 176,144 shares of the restaurant operator’s stock worth $2,987,000 after buying an additional 87,254 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Wendy’s by 90.8% in the third quarter. Quantinno Capital Management LP now owns 109,747 shares of the restaurant operator’s stock worth $1,923,000 after buying an additional 52,225 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Wendy’s in the third quarter worth approximately $1,659,000. CWM LLC increased its holdings in Wendy’s by 254.6% in the third quarter. CWM LLC now owns 175,287 shares of the restaurant operator’s stock worth $3,071,000 after buying an additional 125,851 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its holdings in Wendy’s by 72.0% during the third quarter. Pallas Capital Advisors LLC now owns 66,843 shares of the restaurant operator’s stock valued at $1,171,000 after purchasing an additional 27,989 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on WEN. Truist Financial increased their price target on Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wolfe Research upgraded Wendy’s to a “strong-buy” rating in a report on Friday, September 13th. JPMorgan Chase & Co. increased their price target on Wendy’s from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of Wendy’s in a report on Friday, November 1st. Finally, Tigress Financial reiterated a “buy” rating and set a $29.00 price target on shares of Wendy’s in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.36.

Wendy’s Stock Down 1.3 %

Shares of WEN stock opened at $16.89 on Tuesday. The stock has a market cap of $3.44 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The Wendy’s Company has a one year low of $15.61 and a one year high of $20.65. The stock has a fifty day moving average price of $18.66 and a 200 day moving average price of $17.58. The company has a debt-to-equity ratio of 12.64, a current ratio of 2.10 and a quick ratio of 2.08.

Wendy’s (NASDAQ:WEN) 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 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%. Wendy’s’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.27 earnings per share. Analysts predict that The Wendy’s Company will post 0.99 earnings per share for the current year.

Wendy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.92%. Wendy’s’s payout ratio is presently 105.26%.

Wendy’s Company Profile

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.