Burney Co. Makes New Investment in The Wendy’s Company (NASDAQ:WEN)

Burney Co. acquired a new stake in shares of The Wendy’s Company (NASDAQ:WENFree Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 249,978 shares of the restaurant operator’s stock, valued at approximately $5,437,000. Burney Co. owned about 0.12% of Wendy’s at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Raymond James & Associates raised its position in Wendy’s by 76.5% in the first quarter. Raymond James & Associates now owns 81,161 shares of the restaurant operator’s stock worth $1,783,000 after acquiring an additional 35,183 shares during the period. American Century Companies Inc. raised its holdings in Wendy’s by 16.3% in the 1st quarter. American Century Companies Inc. now owns 25,011 shares of the restaurant operator’s stock worth $549,000 after purchasing an additional 3,498 shares during the period. Cetera Advisor Networks LLC bought a new stake in Wendy’s during the first quarter valued at about $215,000. Citigroup Inc. increased its position in Wendy’s by 30.1% in the first quarter. Citigroup Inc. now owns 26,257 shares of the restaurant operator’s stock worth $577,000 after buying an additional 6,073 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Wendy’s in the first quarter worth about $221,000. 77.54% of the stock is owned by institutional investors.

Wendy’s Stock Performance

NASDAQ WEN opened at $18.89 on Wednesday. The business’s 50 day moving average price is $19.48 and its 200-day moving average price is $20.95. The Wendy’s Company has a fifty-two week low of $18.19 and a fifty-two week high of $23.90. The company has a market cap of $3.90 billion, a P/E ratio of 20.10, a P/E/G ratio of 1.64 and a beta of 0.92. The company has a debt-to-equity ratio of 9.74, a quick ratio of 2.27 and a current ratio of 2.29.

Wendy’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend is Thursday, November 30th. Wendy’s’s dividend payout ratio is currently 106.38%.

Insider Transactions at Wendy’s

In other Wendy’s news, Director Matthew H. Peltz sold 2,905,569 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $20.30, for a total value of $58,983,050.70. Following the transaction, the director now owns 17,827,059 shares of the company’s stock, valued at approximately $361,889,297.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 20.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WEN shares. Morgan Stanley decreased their target price on shares of Wendy’s from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. StockNews.com initiated coverage on shares of Wendy’s in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Citigroup dropped their target price on shares of Wendy’s from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, October 19th. Bank of America boosted their price objective on Wendy’s from $21.00 to $23.00 in a research report on Thursday, August 10th. Finally, Wedbush cut their target price on Wendy’s from $26.50 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, October 18th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.37.

Check Out Our Latest Analysis on WEN

Wendy’s Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding WEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Wendy’s Company (NASDAQ:WENFree Report).

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

Receive News & Ratings for Wendy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wendy's and related companies with MarketBeat.com's FREE daily email newsletter.