Mutual of America Capital Management LLC lessened its stake in shares of The Wendy’s Company (NASDAQ:WEN – Get Rating) by 10.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,404 shares of the restaurant operator’s stock after selling 17,562 shares during the period. Mutual of America Capital Management LLC’s holdings in Wendy’s were worth $2,707,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Wendy’s by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,948,651 shares of the restaurant operator’s stock worth $394,332,000 after acquiring an additional 425,575 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Wendy’s by 0.8% in the 1st quarter. JPMorgan Chase & Co. now owns 6,681,390 shares of the restaurant operator’s stock valued at $146,790,000 after purchasing an additional 53,665 shares during the last quarter. State Street Corp increased its stake in shares of Wendy’s by 6.0% in the 1st quarter. State Street Corp now owns 4,957,246 shares of the restaurant operator’s stock valued at $108,911,000 after purchasing an additional 282,580 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Wendy’s by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,862,783 shares of the restaurant operator’s stock valued at $84,871,000 after purchasing an additional 37,180 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Wendy’s by 86.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,683,410 shares of the restaurant operator’s stock valued at $50,661,000 after purchasing an additional 1,245,024 shares during the last quarter. Institutional investors own 70.88% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on WEN shares. Morgan Stanley decreased their price target on Wendy’s from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 11th. Sanford C. Bernstein started coverage on Wendy’s in a research note on Wednesday, September 7th. They issued an “outperform” rating and a $25.00 price target on the stock. Barclays lifted their price target on Wendy’s to $25.00 in a research note on Tuesday, November 15th. BMO Capital Markets raised their price objective on Wendy’s from $18.00 to $20.00 in a report on Thursday, August 11th. Finally, Royal Bank of Canada cut their price objective on Wendy’s from $22.00 to $21.00 and set a “sector perform” rating on the stock in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.07.
Wendy’s Stock Up 0.9 %
Wendy’s Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Wednesday, November 30th. Wendy’s’s dividend payout ratio is 57.47%.
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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