Los Angeles Capital Management LLC Cuts Position in The Wendy’s Company (NASDAQ:WEN)

Los Angeles Capital Management LLC lessened its holdings in The Wendy’s Company (NASDAQ:WENFree Report) by 69.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 72,553 shares of the restaurant operator’s stock after selling 162,828 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Wendy’s were worth $1,481,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WEN. BlackRock Inc. increased its stake in Wendy’s by 0.6% during the 2nd quarter. BlackRock Inc. now owns 20,510,492 shares of the restaurant operator’s stock worth $446,103,000 after buying an additional 114,831 shares in the last quarter. Vanguard Group Inc. increased its stake in Wendy’s by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,948,651 shares of the restaurant operator’s stock worth $394,332,000 after buying an additional 425,575 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Wendy’s by 2.4% during the 1st quarter. JPMorgan Chase & Co. now owns 5,989,323 shares of the restaurant operator’s stock worth $130,447,000 after buying an additional 142,399 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in 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 worth $107,575,000 after buying an additional 70,832 shares in the last quarter. Finally, State Street Corp increased its stake in Wendy’s by 6.0% during the 1st quarter. State Street Corp now owns 4,957,246 shares of the restaurant operator’s stock worth $108,911,000 after buying an additional 282,580 shares in the last quarter. Hedge funds and other institutional investors 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 company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $19.18, for a total transaction of $383,600.00. Following the sale, the director now owns 30,407 shares of the company’s stock, valued at $583,206.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.10% of the stock is owned by insiders.

Wendy’s Trading Down 0.9 %

WEN opened at $19.22 on Wednesday. The Wendy’s Company has a one year low of $18.19 and a one year high of $23.90. The stock has a market capitalization of $4.01 billion, a PE ratio of 20.45, a P/E/G ratio of 1.51 and a beta of 0.85. The business’s 50 day moving average price is $19.41 and its 200 day moving average price is $19.84. 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 (NASDAQ:WENGet Free Report) last released its quarterly earnings data on Thursday, November 2nd. The restaurant operator reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Wendy’s had a return on equity of 51.44% and a net margin of 9.13%. The firm had revenue of $550.56 million for the quarter, compared to analysts’ expectations of $554.98 million. As a group, equities research analysts expect that The Wendy’s Company will post 0.99 EPS for the current year.

Wendy’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend was Thursday, November 30th. Wendy’s’s dividend payout ratio (DPR) is 106.38%.

Analysts Set New Price Targets

Several research firms have commented on WEN. Stephens cut their price objective on Wendy’s from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Morgan Stanley cut their price objective on Wendy’s from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 11th. Barclays lowered Wendy’s from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $23.00 to $21.00 in a research report on Wednesday, January 3rd. Wedbush lowered Wendy’s from an “outperform” rating to a “neutral” rating and set a $21.00 price target for the company. in a research report on Thursday, December 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Wendy’s in a research report on Thursday, October 19th. They issued a “hold” rating and a $20.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.94.

Get 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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