Raymond James Financial Inc. Makes New Investment in The Wendy’s Company (NASDAQ:WEN)

Raymond James Financial Inc. acquired a new stake in The Wendy’s Company (NASDAQ:WEN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 50,534 shares of the restaurant operator’s stock, valued at approximately $824,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of WEN. Pacer Advisors Inc. raised its stake in Wendy’s by 2.9% in the 4th quarter. Pacer Advisors Inc. now owns 25,529 shares of the restaurant operator’s stock valued at $416,000 after acquiring an additional 717 shares during the period. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Wendy’s by 46.4% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 3,107 shares of the restaurant operator’s stock valued at $51,000 after purchasing an additional 985 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Wendy’s by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 44,056 shares of the restaurant operator’s stock valued at $718,000 after purchasing an additional 1,115 shares during the period. Brown Financial Advisors lifted its stake in shares of Wendy’s by 4.4% during the 4th quarter. Brown Financial Advisors now owns 26,984 shares of the restaurant operator’s stock worth $440,000 after buying an additional 1,135 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Wendy’s by 670.3% during the 4th quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator’s stock worth $25,000 after buying an additional 1,220 shares during the period. Institutional investors own 85.96% of the company’s stock.

Wendy’s Price Performance

Shares of WEN stock opened at $13.30 on Friday. The Wendy’s Company has a twelve month low of $13.22 and a twelve month 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 business has a fifty day simple moving average of $14.97 and a 200 day simple moving average of $16.65. The company has a market cap of $2.67 billion, a P/E ratio of 14.00, a P/E/G ratio of 2.00 and a beta of 0.61.

Wendy’s (NASDAQ:WEN) last posted its earnings results on Thursday, February 13th. The restaurant operator reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $574.27 million during the quarter, compared to analysts’ expectations of $564.17 million. Wendy’s had a net margin of 8.65% and a return on equity of 75.56%. On average, sell-side analysts forecast that The Wendy’s Company will post 0.99 EPS for the current fiscal year.

Wendy’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 7.52%. Wendy’s’s dividend payout ratio (DPR) is presently 105.26%.

Analyst Ratings Changes

Several research firms have weighed in on WEN. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price target on shares of Wendy’s in a report on Tuesday, March 4th. Barclays increased their target price on Wendy’s from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, March 7th. The Goldman Sachs Group reduced their price target on Wendy’s from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Thursday, February 6th. Morgan Stanley reiterated an “underweight” rating and set a $14.00 price objective (down previously from $22.00) on shares of Wendy’s in a research report on Tuesday, January 21st. Finally, TD Securities reissued a “hold” rating and issued a $16.00 target price on shares of Wendy’s in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.08.

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.