New York State Teachers Retirement System Reduces Stake in The Wendy’s Company (NASDAQ:WEN)

New York State Teachers Retirement System trimmed its stake in The Wendy’s Company (NASDAQ:WEN) by 2.4% during the fourth quarter, Holdings Channel reports. The fund owned 217,591 shares of the restaurant operator’s stock after selling 5,400 shares during the period. New York State Teachers Retirement System’s holdings in Wendy’s were worth $3,547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MetLife Investment Management LLC boosted its stake in Wendy’s by 0.6% in the third quarter. MetLife Investment Management LLC now owns 92,132 shares of the restaurant operator’s stock valued at $1,614,000 after acquiring an additional 590 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Wendy’s by 2.9% in the fourth 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 last quarter. Bartlett & CO. Wealth Management LLC boosted its stake 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 valued at $51,000 after acquiring an additional 985 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Wendy’s by 3.8% in the third quarter. Nisa Investment Advisors LLC now owns 26,865 shares of the restaurant operator’s stock valued at $471,000 after acquiring an additional 995 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Wendy’s by 39.6% in the third quarter. Signaturefd LLC now owns 3,690 shares of the restaurant operator’s stock valued at $65,000 after acquiring an additional 1,046 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wendy’s Stock Performance

Wendy’s stock opened at $15.21 on Friday. The firm’s 50 day simple moving average is $15.32 and its 200 day simple moving average is $17.05. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48. The firm has a market capitalization of $3.10 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.04 and a beta of 0.77. The Wendy’s Company has a 1-year low of $13.72 and a 1-year high of $20.65.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $574.27 million for 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%. As a group, analysts expect that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.57%. The ex-dividend date is Monday, March 3rd. Wendy’s’s dividend payout ratio (DPR) is currently 105.26%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Argus raised shares of Wendy’s to a “strong-buy” rating in a research report on Tuesday. Morgan Stanley reissued an “underweight” rating and issued a $14.00 price target (down previously from $22.00) on shares of Wendy’s in a research report on Tuesday, January 21st. Wedbush boosted their price target on shares of Wendy’s from $15.50 to $16.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. UBS Group lowered their price target on shares of Wendy’s from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Stephens reissued an “equal weight” rating and issued a $15.00 price target on shares of Wendy’s in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.81.

Wendy’s Company Profile

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid’s meals.