AMG National Trust Bank bought a new stake in shares of The Wendy's Company (NASDAQ:WEN - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 62,276 shares of the restaurant operator's stock, valued at approximately $1,091,000.
Other large investors have also recently made changes to their positions in the company. Arizona State Retirement System grew its holdings in Wendy's by 1.5% in the second quarter. Arizona State Retirement System now owns 48,893 shares of the restaurant operator's stock valued at $829,000 after purchasing an additional 711 shares during the period. Probity Advisors Inc. increased its holdings in Wendy's by 6.5% in the 3rd quarter. Probity Advisors Inc. now owns 11,689 shares of the restaurant operator's stock worth $205,000 after acquiring an additional 715 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Wendy's by 5.6% during the first quarter. Janney Montgomery Scott LLC now owns 15,170 shares of the restaurant operator's stock worth $286,000 after acquiring an additional 801 shares during the period. Truist Financial Corp raised its position in Wendy's by 1.6% during the second quarter. Truist Financial Corp now owns 51,523 shares of the restaurant operator's stock worth $874,000 after acquiring an additional 810 shares during the period. Finally, Hexagon Capital Partners LLC lifted its holdings in Wendy's by 21.2% during the third quarter. Hexagon Capital Partners LLC now owns 5,432 shares of the restaurant operator's stock valued at $95,000 after purchasing an additional 949 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of WEN opened at $18.02 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 2.08 and a debt-to-equity ratio of 12.64. The firm has a market cap of $3.67 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 2.52 and a beta of 0.79. The company's 50-day moving average price is $18.54 and its 200 day moving average price is $17.64. The Wendy's Company has a 12-month low of $15.61 and a 12-month high of $20.65.
Wendy's (NASDAQ:WEN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The restaurant operator reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. Wendy's had a net margin of 8.76% and a return on equity of 70.02%. The firm had revenue of $566.70 million for the quarter, compared to analyst estimates of $560.50 million. During the same period in the prior year, the business posted $0.27 EPS. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that The Wendy's Company will post 0.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.55%. Wendy's's payout ratio is presently 105.26%.
Several research analysts recently weighed in on the stock. Tigress Financial restated a "buy" rating and set a $29.00 price target on shares of Wendy's in a research report on Wednesday, September 4th. Barclays dropped their price target on Wendy's from $20.00 to $18.00 and set an "equal weight" rating for the company in a research report on Friday, August 2nd. Wolfe Research upgraded Wendy's to a "strong-buy" rating in a report on Friday, September 13th. Stifel Nicolaus reduced their target price on shares of Wendy's from $20.00 to $19.00 and set a "hold" rating for the company in a research report on Friday, August 2nd. Finally, Citigroup boosted their price target on shares of Wendy's from $18.00 to $18.75 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wendy's currently has a consensus rating of "Hold" and an average price target of $20.36.
Read Our Latest Report on Wendy's
The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Wendy's, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wendy's wasn't on the list.
While Wendy's currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.