Retirement Systems of Alabama Sells 5,592 Shares of The Wendy’s Company (NASDAQ:WEN)

Retirement Systems of Alabama lessened its stake in The Wendy’s Company (NASDAQ:WENFree Report) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 497,168 shares of the restaurant operator’s stock after selling 5,592 shares during the quarter. Retirement Systems of Alabama owned approximately 0.24% of Wendy’s worth $10,147,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in shares of Wendy’s by 9.3% in the third quarter. Victory Capital Management Inc. now owns 1,259,156 shares of the restaurant operator’s stock valued at $25,699,000 after purchasing an additional 107,383 shares in the last quarter. Signaturefd LLC lifted its holdings in Wendy’s by 112.0% during the third quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 763 shares during the period. California Public Employees Retirement System lifted its holdings in Wendy’s by 20.1% during the third quarter. California Public Employees Retirement System now owns 1,074,897 shares of the restaurant operator’s stock worth $21,939,000 after acquiring an additional 179,868 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Wendy’s by 474.6% during the third quarter. Nisa Investment Advisors LLC now owns 12,228 shares of the restaurant operator’s stock worth $250,000 after acquiring an additional 10,100 shares during the period. Finally, Mesirow Institutional Investment Management Inc. lifted its holdings in Wendy’s by 21.4% during the third quarter. Mesirow Institutional Investment Management Inc. now owns 424,275 shares of the restaurant operator’s stock worth $8,659,000 after acquiring an additional 74,880 shares during the period. Institutional investors own 77.54% of the company’s stock.

Insider Activity

In other news, Director Joseph A. Levato sold 20,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $19.18, for a total value of $383,600.00. Following the completion of the sale, the director now owns 30,407 shares of the company’s stock, valued at approximately $583,206.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 20.10% of the stock is currently owned by corporate insiders.

Wendy’s Price Performance

Wendy’s stock opened at $19.22 on Wednesday. The Wendy’s Company has a 52 week low of $18.19 and a 52 week high of $23.90. The business has a 50-day simple moving average of $19.41 and a 200 day simple moving average of $19.84. 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 stock has a market cap of $4.01 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.51 and a beta of 0.85.

Wendy’s (NASDAQ:WENGet Free Report) last posted its earnings results on Thursday, November 2nd. The restaurant operator reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. Wendy’s had a return on equity of 51.44% and a net margin of 9.13%. The business had revenue of $550.56 million during the quarter, compared to analysts’ expectations of $554.98 million. On average, research analysts forecast that The Wendy’s Company will post 0.99 earnings per share for the current fiscal 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 annualized dividend 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 currently 106.38%.

Analyst Ratings Changes

A number of brokerages recently commented on WEN. Gordon Haskett lowered Wendy’s from a “buy” rating to a “hold” rating and set a $21.00 price target on the stock. in a report on Tuesday, January 16th. Stephens dropped their price target on Wendy’s from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Barclays lowered Wendy’s from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $23.00 to $21.00 in a report on Wednesday, January 3rd. StockNews.com initiated coverage on Wendy’s in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Wedbush lowered Wendy’s from an “outperform” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research note on Thursday, December 21st. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.94.

Check Out Our Latest Research Report on Wendy’s

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.

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

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