Truist Financial Corp Has $1.11 Million Position in The Wendy’s Company (NASDAQ:WEN)

Truist Financial Corp boosted its position in The Wendy’s Company (NASDAQ:WENGet Rating) by 28.4% during the third quarter, Holdings Channel reports. The institutional investor owned 59,152 shares of the restaurant operator’s stock after purchasing an additional 13,087 shares during the quarter. Truist Financial Corp’s holdings in Wendy’s were worth $1,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Investing LLC raised its position in Wendy’s by 5.3% in the 2nd quarter. Inspire Investing LLC now owns 11,248 shares of the restaurant operator’s stock valued at $212,000 after buying an additional 568 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Wendy’s by 2.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 26,550 shares of the restaurant operator’s stock worth $501,000 after purchasing an additional 608 shares during the last quarter. Raymond James & Associates increased its position in shares of Wendy’s by 1.0% during the 3rd quarter. Raymond James & Associates now owns 83,122 shares of the restaurant operator’s stock worth $1,554,000 after purchasing an additional 813 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Wendy’s by 59.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,247 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 836 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Wendy’s by 2.1% during the 2nd quarter. US Bancorp DE now owns 44,090 shares of the restaurant operator’s stock worth $832,000 after purchasing an additional 916 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wendy’s Stock Performance

NASDAQ:WEN opened at $22.17 on Friday. The stock has a fifty day moving average price of $22.46 and a 200-day moving average price of $20.93. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 2.46 and a beta of 0.90. The company has a debt-to-equity ratio of 7.76, a quick ratio of 2.60 and a current ratio of 2.62. The Wendy’s Company has a fifty-two week low of $15.77 and a fifty-two week high of $23.78.

Wendy’s (NASDAQ:WENGet Rating) last released its earnings results on Wednesday, November 9th. The restaurant operator reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $532.57 million during the quarter, compared to the consensus estimate of $542.23 million. Wendy’s had a return on equity of 39.75% and a net margin of 9.26%. As a group, equities analysts anticipate that The Wendy’s Company will post 0.84 EPS for the current fiscal year.

Wendy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.51%. This is an increase from Wendy’s’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, February 28th. Wendy’s’s dividend payout ratio is presently 57.47%.

Wall Street Analyst Weigh In

WEN has been the topic of several recent analyst reports. Stephens initiated coverage on Wendy’s in a research report on Thursday, September 22nd. They set an “overweight” rating and a $25.00 price target on the stock. Morgan Stanley lifted their target price on Wendy’s from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday. The Goldman Sachs Group lifted their target price on Wendy’s from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday. Barclays lifted their target price on Wendy’s from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, January 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Wendy’s from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research note on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.53.

Wendy’s Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Wendy's (NASDAQ:WEN)

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