Comerica Bank Cuts Position in The Wendy’s Company (NASDAQ:WEN)

Comerica Bank reduced its position in shares of The Wendy’s Company (NASDAQ:WENGet Rating) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,414 shares of the restaurant operator’s stock after selling 1,624 shares during the period. Comerica Bank’s holdings in Wendy’s were worth $1,132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC acquired a new position in shares of Wendy’s in the second quarter valued at approximately $37,000. Wipfli Financial Advisors LLC purchased a new position in Wendy’s in the 3rd quarter valued at approximately $38,000. Quantbot Technologies LP acquired a new position in shares of Wendy’s in the second quarter worth $41,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Wendy’s by 59.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,247 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 836 shares during the period. Finally, Covestor Ltd raised its stake in shares of Wendy’s by 85.1% in the first quarter. Covestor Ltd now owns 3,498 shares of the restaurant operator’s stock valued at $77,000 after acquiring an additional 1,608 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WEN. Jefferies Financial Group initiated coverage on Wendy’s in a research note on Thursday, December 15th. They set a “hold” rating and a $25.00 target price for the company. Guggenheim set a $24.00 price objective on Wendy’s in a research report on Thursday, November 17th. Credit Suisse Group raised their target price on shares of Wendy’s from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, January 17th. Citigroup lowered their price target on shares of Wendy’s from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, November 10th. Finally, Oppenheimer cut shares of Wendy’s from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 5th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Wendy’s has a consensus rating of “Hold” and a consensus target price of $24.53.

Wendy’s Stock Performance

Shares of WEN opened at $22.09 on Wednesday. The company’s 50 day simple moving average is $22.55 and its 200-day simple moving average is $21.00. The firm has a market cap of $4.71 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.34 and a beta of 0.90. The Wendy’s Company has a 12-month low of $15.77 and a 12-month high of $23.78. The company has a current ratio of 2.62, a quick ratio of 2.60 and a debt-to-equity ratio of 7.76.

Wendy’s (NASDAQ:WENGet Rating) last issued its quarterly earnings data on Wednesday, November 9th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $532.57 million for the quarter, compared to the consensus estimate of $542.23 million. Wendy’s had a net margin of 9.26% and a return on equity of 39.75%. As a group, equities analysts predict that The Wendy’s Company will post 0.85 EPS for the current year.

Wendy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, February 28th. This is an increase from Wendy’s’s previous quarterly dividend of $0.13. This represents a $1.00 annualized dividend and a yield of 4.53%. Wendy’s’s dividend payout ratio is currently 57.47%.

Wendy’s Company Profile

(Get Rating)

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.

See Also

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

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