Spire Wealth Management Raises Holdings in The Wendy’s Company (NASDAQ:WEN)

Spire Wealth Management raised its position in The Wendy’s Company (NASDAQ:WENFree Report) by 203.2% during the third quarter, HoldingsChannel reports. The firm owned 1,516 shares of the restaurant operator’s stock after purchasing an additional 1,016 shares during the period. Spire Wealth Management’s holdings in Wendy’s were worth $31,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its position in shares of Wendy’s by 16.1% in the second quarter. Janney Montgomery Scott LLC now owns 14,332 shares of the restaurant operator’s stock valued at $312,000 after purchasing an additional 1,987 shares in the last quarter. Ibex Wealth Advisors purchased a new stake in Wendy’s in the 3rd quarter valued at $4,287,000. Boothbay Fund Management LLC increased its stake in shares of Wendy’s by 179.6% in the 2nd quarter. Boothbay Fund Management LLC now owns 544,653 shares of the restaurant operator’s stock worth $11,846,000 after acquiring an additional 349,848 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Wendy’s by 9.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,259,156 shares of the restaurant operator’s stock worth $25,699,000 after acquiring an additional 107,383 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Wendy’s by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,270,722 shares of the restaurant operator’s stock valued at $107,575,000 after acquiring an additional 70,832 shares during the last quarter. Institutional investors and hedge funds own 77.54% of the company’s stock.

Insiders Place Their Bets

In other news, Director Joseph A. Levato sold 20,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $19.18, for a total value of $383,600.00. Following the sale, the director now directly owns 30,407 shares in the company, valued at $583,206.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 20.10% of the company’s stock.

Wendy’s Price Performance

Shares of WEN opened at $19.52 on Tuesday. The company has a quick ratio of 2.27, a current ratio of 2.29 and a debt-to-equity ratio of 9.74. 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 $4.08 billion, a P/E ratio of 20.77, a PEG ratio of 1.51 and a beta of 0.83. The firm’s 50 day moving average price is $19.39 and its 200 day moving average price is $19.69.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Gordon Haskett cut shares of Wendy’s from a “buy” rating to a “hold” rating and set a $21.00 price objective for the company. in a research report on Tuesday, January 16th. Wedbush reduced their price target on shares of Wendy’s from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Wendy’s in a research report on Thursday, October 19th. They issued a “hold” rating and a $20.00 price objective for the company. Stephens reduced their target price on Wendy’s from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, November 3rd. Finally, Citigroup lowered their price target on Wendy’s from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, October 19th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.88.

View Our Latest Analysis on Wendy’s

Wendy’s 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.

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

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