The Wendy’s Company (NASDAQ:WEN) Holdings Cut by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its holdings in shares of The Wendy’s Company (NASDAQ:WEN) by 30.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,076 shares of the restaurant operator’s stock after selling 4,374 shares during the period. Janney Montgomery Scott LLC’s holdings in Wendy’s were worth $164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Point72 Asset Management L.P. raised its holdings in shares of Wendy’s by 159.6% during the third quarter. Point72 Asset Management L.P. now owns 6,440,880 shares of the restaurant operator’s stock valued at $112,844,000 after buying an additional 3,959,480 shares during the last quarter. State Street Corp increased its stake in shares of Wendy’s by 0.7% during the third quarter. State Street Corp now owns 5,187,593 shares of the restaurant operator’s stock valued at $90,887,000 after acquiring an additional 37,801 shares during the period. Geode Capital Management LLC increased its stake in shares of Wendy’s by 3.9% during the third quarter. Geode Capital Management LLC now owns 3,097,836 shares of the restaurant operator’s stock valued at $54,287,000 after acquiring an additional 115,875 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Wendy’s during the fourth quarter valued at approximately $13,358,000. Finally, Retirement Systems of Alabama increased its stake in shares of Wendy’s by 16.9% during the third quarter. Retirement Systems of Alabama now owns 711,267 shares of the restaurant operator’s stock valued at $12,461,000 after acquiring an additional 102,769 shares during the period. Institutional investors own 85.96% of the company’s stock.

Wendy’s Trading Up 3.8 %

Shares of NASDAQ:WEN opened at $14.76 on Friday. The firm has a fifty day moving average of $15.61 and a two-hundred day moving average of $17.13. The firm has a market capitalization of $3.01 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 2.27 and a beta of 0.77. The Wendy’s Company has a 12-month low of $13.72 and a 12-month high of $20.65. The company has a quick ratio of 2.08, a current ratio of 2.10 and a debt-to-equity ratio of 12.64.

Wendy’s (NASDAQ:WEN) last issued 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 8.76% and a return on equity of 70.02%. On average, equities analysts expect that The Wendy’s Company will post 0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

WEN has been the topic of a number of research analyst reports. Morgan Stanley reiterated an “underweight” rating and set a $14.00 price objective (down previously from $22.00) on shares of Wendy’s in a research note on Tuesday, January 21st. BMO Capital Markets lifted their price target on shares of Wendy’s from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Stephens restated an “equal weight” rating and issued a $15.00 price target on shares of Wendy’s in a research report on Thursday. UBS Group decreased 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 report on Tuesday, January 7th. Finally, Truist Financial lifted their price target on shares of Wendy’s from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.43.

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.