By otakuyassine3@gmail.com 
Corebridge Financial Inc. cut its stake in The Wendy’s Company (NASDAQ:WEN – Free Report) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,735 shares of the restaurant operator’s stock after selling 8,164 shares during the quarter. Corebridge Financial Inc. owned 0.10% of Wendy’s worth $3,174,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its stake in Wendy’s by 670.3% in the fourth quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 1,220 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Wendy’s during the 4th quarter worth $30,000. GAMMA Investing LLC lifted its holdings in Wendy’s by 168.1% during the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 1,400 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Wendy’s in the fourth quarter valued at about $46,000. Finally, Bartlett & CO. Wealth Management LLC increased its holdings in shares of 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 worth $51,000 after acquiring an additional 985 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.
Wendy’s Stock Performance
WEN stock opened at $14.63 on Tuesday. The Wendy’s Company has a one year low of $13.72 and a one year high of $20.65. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.00 and a beta of 0.73. The company has a fifty day moving average price of $14.97 and a two-hundred day moving average price of $16.74. The company has a debt-to-equity ratio of 12.48, a current ratio of 1.85 and a quick ratio of 1.83.
Wendy’s (NASDAQ:WEN – Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The restaurant operator reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $574.27 million for the quarter, compared to analyst estimates of $564.17 million. Wendy’s had a net margin of 8.65% and a return on equity of 75.56%. Equities analysts anticipate that The Wendy’s Company will post 0.99 EPS for the current year.
Wendy’s Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 6.84%. Wendy’s’s payout ratio is currently 105.26%.
Analyst Upgrades and Downgrades
WEN has been the subject of several research analyst reports. UBS Group boosted their price objective on Wendy’s from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, March 7th. Stephens reissued an “equal weight” rating and set a $15.00 price objective on shares of Wendy’s in a research report on Thursday, March 6th. Morgan Stanley reaffirmed an “underweight” rating and issued a $14.00 price objective (down from $22.00) on shares of Wendy’s in a research report on Tuesday, January 21st. Truist Financial lowered their target price on Wendy’s from $22.00 to $19.00 and set a “buy” rating for the company in a report on Friday, February 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price objective on shares of Wendy’s in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $18.08.
Check Out Our Latest Research Report on Wendy’s
Wendy’s Profile
The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy’s U.S., Wendy’s International, and Global Real Estate and Development. The Wendy’s U.S. segment includes the operation and franchising of Wendy’s restaurants in the U.S.
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