Pictet Asset Management Holding SA Increases Stake in The Wendy’s Company (NASDAQ:WEN)

Pictet Asset Management Holding SA increased its position in shares of The Wendy’s Company (NASDAQ:WEN) by 8.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,250 shares of the restaurant operator’s stock after buying an additional 1,805 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Wendy’s were worth $363,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WEN. Blue Trust Inc. boosted its stake 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 purchasing an additional 1,220 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Wendy’s during the 4th quarter worth approximately $30,000. GAMMA Investing LLC lifted its position in shares of Wendy’s by 168.1% during the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 1,400 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Wendy’s in the 4th quarter valued at approximately $46,000. Finally, Bartlett & CO. Wealth Management LLC lifted its holdings in 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 worth $51,000 after acquiring an additional 985 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Wendy’s Stock Performance

NASDAQ WEN opened at $13.12 on Thursday. The company has a debt-to-equity ratio of 12.48, a current ratio of 1.85 and a quick ratio of 1.83. The stock’s 50 day simple moving average is $14.78 and its 200-day simple moving average is $16.49. The company has a market cap of $2.63 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 2.00 and a beta of 0.61. The Wendy’s Company has a 1-year low of $12.05 and a 1-year high of $20.65.

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

Wendy’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 7.62%. Wendy’s’s dividend payout ratio is presently 105.26%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WEN. UBS Group boosted their price target on shares of Wendy’s from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report 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 report on Thursday, February 6th. Truist Financial dropped their price objective on Wendy’s from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price objective on shares of Wendy’s in a research report on Tuesday, March 4th. Finally, Argus upgraded Wendy’s to a “strong-buy” rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.