SG Americas Securities LLC increased its stake in shares of Wendys Co (NASDAQ:WEN) by 32.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,338 shares of the restaurant operator’s stock after acquiring an additional 18,565 shares during the quarter. SG Americas Securities LLC’s holdings in Wendys were worth $1,291,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of WEN. Commonwealth Equity Services LLC raised its holdings in shares of Wendys by 14.0% in the third quarter. Commonwealth Equity Services LLC now owns 45,392 shares of the restaurant operator’s stock valued at $778,000 after purchasing an additional 5,582 shares during the last quarter. Wells Fargo & Company MN grew its position in Wendys by 0.4% during the third quarter. Wells Fargo & Company MN now owns 9,875,077 shares of the restaurant operator’s stock valued at $169,259,000 after buying an additional 37,221 shares during the period. Engineers Gate Manager LP grew its position in Wendys by 249.2% during the third quarter. Engineers Gate Manager LP now owns 302,408 shares of the restaurant operator’s stock valued at $5,183,000 after buying an additional 215,797 shares during the period. Valeo Financial Advisors LLC grew its position in Wendys by 2,200.0% during the third quarter. Valeo Financial Advisors LLC now owns 6,900 shares of the restaurant operator’s stock valued at $118,000 after buying an additional 6,600 shares during the period. Finally, Arizona State Retirement System grew its position in Wendys by 6.7% during the third quarter. Arizona State Retirement System now owns 132,938 shares of the restaurant operator’s stock valued at $2,279,000 after buying an additional 8,378 shares during the period. 77.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:WEN opened at $17.11 on Friday. The company has a debt-to-equity ratio of 3.52, a current ratio of 2.52 and a quick ratio of 2.51. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 1.48 and a beta of 0.55. Wendys Co has a twelve month low of $14.80 and a twelve month high of $18.68.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.085 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.34 dividend on an annualized basis and a yield of 1.99%. Wendys’s dividend payout ratio is presently 79.07%.
Several equities analysts recently weighed in on WEN shares. BTIG Research started coverage on shares of Wendys in a research report on Tuesday, September 25th. They set a “buy” rating and a $20.00 price target for the company. Wedbush restated a “buy” rating and set a $20.00 price target on shares of Wendys in a research report on Wednesday, November 7th. KeyCorp started coverage on shares of Wendys in a research report on Wednesday, October 3rd. They set a “sector weight” rating for the company. BidaskClub upgraded shares of Wendys from a “hold” rating to a “buy” rating in a research report on Saturday, August 18th. Finally, Telsey Advisory Group started coverage on shares of Wendys in a research report on Friday, September 28th. They set an “outperform” rating and a $21.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $19.56.
In other Wendys news, COO Robert D. Wright sold 28,300 shares of the stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $17.78, for a total transaction of $503,174.00. Following the completion of the transaction, the chief operating officer now owns 48,467 shares in the company, valued at $861,743.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.10% of the stock is owned by company insiders.
Wendys Company Profile
The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.
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