Mutual of America Capital Management LLC increased its holdings in shares of The Wendy’s Company (NASDAQ:WEN – Get Rating) by 1.9% during the first quarter, Holdings Channel.com reports. The firm owned 160,966 shares of the restaurant operator’s stock after buying an additional 3,065 shares during the period. Mutual of America Capital Management LLC’s holdings in Wendy’s were worth $3,536,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Joseph Group Capital Management bought a new position in shares of Wendy’s during the fourth quarter valued at approximately $969,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Wendy’s during the fourth quarter valued at approximately $34,000. Covestor Ltd bought a new position in shares of Wendy’s during the fourth quarter valued at approximately $45,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Wendy’s during the fourth quarter valued at approximately $72,000. Finally, CWM LLC bought a new position in shares of Wendy’s during the fourth quarter valued at approximately $81,000. 69.97% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on WEN. Morgan Stanley decreased their target price on shares of Wendy’s from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, April 14th. Truist Financial decreased their target price on shares of Wendy’s from $29.00 to $27.00 in a research report on Thursday, May 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Wendy’s from $20.00 to $24.00 in a research report on Wednesday, July 20th. BMO Capital Markets cut shares of Wendy’s from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $28.00 to $22.00 in a research report on Monday, April 18th. Finally, Barclays decreased their target price on shares of Wendy’s from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, June 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.53.
Wendy’s Trading Up 0.6 %
Shares of WEN stock opened at $20.51 on Wednesday. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.63 and a current ratio of 2.65. The stock has a market capitalization of $4.39 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.66 and a beta of 0.89. The company has a 50 day moving average price of $18.78 and a 200 day moving average price of $20.54. The Wendy’s Company has a fifty-two week low of $15.77 and a fifty-two week high of $24.48.
Wendy’s (NASDAQ:WEN – Get Rating) last posted its quarterly earnings results on Wednesday, May 11th. The restaurant operator reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $488.64 million for the quarter, compared to analyst estimates of $495.76 million. Wendy’s had a return on equity of 34.82% and a net margin of 10.20%. During the same quarter last year, the firm earned $0.20 EPS. Equities research analysts predict that The Wendy’s Company will post 0.82 EPS for the current fiscal year.
Wendy’s Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, May 31st. This represents a $0.50 dividend on an annualized basis and a yield of 2.44%. Wendy’s’s payout ratio is currently 56.82%.
The Wendy’s Company, together with its subsidiaries, operates as a quick-service restaurant company. It operates through three segments: Wendy’s U.S., Wendy’s International, and Global Real Estate & Development. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.
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