New York State Teachers Retirement System trimmed its position in shares of Wendys Co (NASDAQ:WEN) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 329,103 shares of the restaurant operator’s stock after selling 8,800 shares during the period. New York State Teachers Retirement System owned 0.14% of Wendys worth $6,444,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of WEN. Wells Fargo & Company MN boosted its position in Wendys by 3.4% during the first quarter. Wells Fargo & Company MN now owns 9,736,670 shares of the restaurant operator’s stock worth $174,188,000 after purchasing an additional 317,252 shares during the period. Janus Henderson Group PLC boosted its position in Wendys by 1.8% during the first quarter. Janus Henderson Group PLC now owns 5,419,827 shares of the restaurant operator’s stock worth $96,961,000 after purchasing an additional 98,309 shares during the period. Norges Bank bought a new position in Wendys during the fourth quarter worth $56,554,000. OppenheimerFunds Inc. boosted its position in Wendys by 0.8% during the first quarter. OppenheimerFunds Inc. now owns 3,353,385 shares of the restaurant operator’s stock worth $59,992,000 after purchasing an additional 25,748 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Wendys by 57.1% during the first quarter. JPMorgan Chase & Co. now owns 2,956,664 shares of the restaurant operator’s stock worth $52,895,000 after purchasing an additional 1,074,389 shares during the period. Institutional investors and hedge funds own 76.45% of the company’s stock.
WEN has been the subject of a number of research analyst reports. Cowen initiated coverage on shares of Wendys in a research report on Wednesday, April 10th. They set an “outperform” rating and a $21.00 price objective for the company. ValuEngine cut shares of Wendys from a “buy” rating to a “hold” rating in a research report on Thursday. Goldman Sachs Group started coverage on shares of Wendys in a research report on Monday, July 29th. They issued a “sell” rating and a $17.50 target price for the company. BidaskClub cut shares of Wendys from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Wendys from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $20.19.
Shares of Wendys stock traded down $0.03 during trading on Friday, reaching $18.09. The company’s stock had a trading volume of 1,725,891 shares, compared to its average volume of 1,780,596. The firm’s 50-day moving average price is $19.24. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 2.01 and a beta of 0.72. Wendys Co has a 52 week low of $14.96 and a 52 week high of $20.14. The company has a debt-to-equity ratio of 5.80, a quick ratio of 2.04 and a current ratio of 2.05.
Wendys (NASDAQ:WEN) last posted its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. The business had revenue of $408.60 million during the quarter, compared to the consensus estimate of $398.58 million. Wendys had a return on equity of 23.85% and a net margin of 29.16%. Wendys’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 earnings per share. On average, equities analysts forecast that Wendys Co will post 0.63 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.21%. Wendys’s dividend payout ratio (DPR) is presently 67.80%.
The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.
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