Bank of Montreal Can Sells 738,991 Shares of The Wendy’s Company (NASDAQ:WEN)

Bank of Montreal Can cut its holdings in The Wendy’s Company (NASDAQ:WEN) by 85.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 127,887 shares of the restaurant operator’s stock after selling 738,991 shares during the period. Bank of Montreal Can’s holdings in Wendy’s were worth $2,275,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wendy’s in the second quarter worth about $27,000. Quarry LP bought a new stake in Wendy’s during the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC purchased a new stake in Wendy’s in the 2nd quarter worth approximately $33,000. Signaturefd LLC boosted its holdings in Wendy’s by 94.7% in the 2nd quarter. Signaturefd LLC now owns 2,644 shares of the restaurant operator’s stock valued at $45,000 after purchasing an additional 1,286 shares during the period. Finally, AM Squared Ltd purchased a new position in shares of Wendy’s during the 3rd quarter valued at $49,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wendy’s Stock Down 1.6 %

WEN opened at $17.69 on Friday. The Wendy’s Company has a 12 month low of $15.61 and a 12 month 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. The business’s 50-day moving average price is $18.70 and its 200-day moving average price is $17.59. The company has a market cap of $3.61 billion, a P/E ratio of 18.92, a P/E/G ratio of 2.49 and a beta of 0.77.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Thursday, October 31st. The restaurant operator reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. Wendy’s had a return on equity of 70.02% and a net margin of 8.76%. The business had revenue of $566.70 million for the quarter, compared to analysts’ expectations of $560.50 million. During the same period in the previous year, the firm earned $0.27 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts expect that The Wendy’s Company will post 0.99 EPS for the current year.

Wendy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 5.65%. Wendy’s’s payout ratio is currently 105.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WEN shares. BMO Capital Markets increased their price objective on Wendy’s from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. TD Cowen raised their price target on Wendy’s from $17.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Tigress Financial reissued a “buy” rating and set a $29.00 price objective on shares of Wendy’s in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised their target price on shares of Wendy’s from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Wedbush reissued a “neutral” rating and issued a $20.00 price target on shares of Wendy’s in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.36.

Wendy’s 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.