The Wendy’s Company (NASDAQ:WEN) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its stake in The Wendy’s Company (NASDAQ:WEN) by 26.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,007 shares of the restaurant operator’s stock after selling 33,880 shares during the quarter. Bank of Montreal Can’s holdings in Wendy’s were worth $1,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WEN. Retirement Systems of Alabama lifted its holdings in Wendy’s by 16.9% in the third quarter. Retirement Systems of Alabama now owns 711,267 shares of the restaurant operator’s stock valued at $12,461,000 after acquiring an additional 102,769 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Wendy’s during the 4th quarter worth about $1,733,000. Miracle Mile Advisors LLC acquired a new position in Wendy’s in the fourth quarter valued at about $357,000. Norges Bank purchased a new position in Wendy’s during the fourth quarter worth about $4,318,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Wendy’s during the fourth quarter valued at about $13,358,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wendy’s Stock Up 1.1 %

Shares of NASDAQ:WEN opened at $12.68 on Friday. The Wendy’s Company has a fifty-two week low of $12.05 and a fifty-two week high of $20.65. The company has a quick ratio of 1.83, a current ratio of 1.85 and a debt-to-equity ratio of 12.48. The firm’s 50-day simple moving average is $14.55 and its 200-day simple moving average is $16.31. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 2.00 and a beta of 0.61.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings data on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $574.27 million for the quarter, compared to analyst estimates of $564.17 million. Wendy’s had a return on equity of 75.56% and a net margin of 8.65%. As a group, equities research analysts predict that The Wendy’s Company will post 0.99 earnings per share for the current year.

Wendy’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 7.89%. Wendy’s’s payout ratio is currently 105.26%.

Analysts Set New Price Targets

WEN has been the subject of several research reports. Stephens reiterated an “equal weight” rating and issued a $15.00 target price on shares of Wendy’s in a report on Thursday, April 10th. The Goldman Sachs Group decreased their target price on Wendy’s from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Thursday, February 6th. Barclays lifted their target price on Wendy’s from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, March 7th. Morgan Stanley reissued an “underweight” rating and issued a $14.00 price objective (down previously from $22.00) on shares of Wendy’s in a research note on Tuesday, January 21st. Finally, Citigroup raised their price target on shares of Wendy’s from $15.50 to $16.50 and gave the company a “neutral” rating in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.97.

About Wendy’s

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy’s U.S., Wendy’s International, and Global Real Estate and Development. The Wendy’s U.S. segment includes the operation and franchising of Wendy’s restaurants in the U.S.