Shell Asset Management Co. cut its stake in The Wendy’s Company (NASDAQ:WEN – Get Rating) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,732 shares of the restaurant operator’s stock after selling 3,067 shares during the period. Shell Asset Management Co.’s holdings in Wendy’s were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of WEN. Allspring Global Investments Holdings LLC bought a new position in shares of Wendy’s in the fourth quarter worth about $22,589,000. Commonwealth Equity Services LLC raised its stake in shares of Wendy’s by 0.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 80,061 shares of the restaurant operator’s stock worth $1,909,000 after buying an additional 664 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Wendy’s by 9.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 128,014 shares of the restaurant operator’s stock worth $3,053,000 after buying an additional 11,487 shares during the last quarter. Yousif Capital Management LLC bought a new stake in shares of Wendy’s during the fourth quarter worth approximately $1,794,000. Finally, CWM LLC bought a new stake in shares of Wendy’s during the fourth quarter worth approximately $81,000. 69.97% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on WEN shares. OTR Global reissued an “upgrade” rating on shares of Wendy’s in a research note on Wednesday. Citigroup lowered their target price on shares of Wendy’s from $23.00 to $18.50 in a research note on Thursday, May 12th. Wedbush lowered their target price on shares of Wendy’s from $28.50 to $23.00 in a research note on Thursday, May 12th. BMO Capital Markets downgraded shares of Wendy’s from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $28.00 to $22.00 in a research note on Monday, April 18th. Finally, Truist Financial lowered their target price on shares of Wendy’s from $29.00 to $27.00 in a research note on Thursday, May 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.53.
Wendy’s Stock Performance
Wendy’s (NASDAQ:WEN – Get Rating) last announced its earnings results on Wednesday, May 11th. The restaurant operator reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Wendy’s had a return on equity of 34.82% and a net margin of 10.20%. The business had revenue of $488.64 million for the quarter, compared to analyst estimates of $495.76 million. During the same quarter in the previous year, the company posted $0.20 EPS. Research analysts forecast that The Wendy’s Company will post 0.82 EPS for the current fiscal year.
Wendy’s Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Tuesday, May 31st. Wendy’s’s dividend payout ratio is currently 56.82%.
The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company. It operates through three segments: Wendy's U.S., Wendy's International, and Global Real Estate & Development. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.
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