Ameriprise Financial Inc. raised its position in shares of Wendy’s Co. (NASDAQ:WEN) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 589,593 shares of the company’s stock after buying an additional 52,579 shares during the period. Ameriprise Financial Inc. owned approximately 0.22% of Wendy’s worth $5,672,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in WEN. Stephens Inc. AR increased its stake in shares of Wendy’s by 8.9% in the second quarter. Stephens Inc. AR now owns 12,525 shares of the company’s stock worth $120,000 after buying an additional 1,025 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Wendy’s by 67.1% in the second quarter. LS Investment Advisors LLC now owns 13,324 shares of the company’s stock worth $128,000 after buying an additional 5,350 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Wendy’s by 31.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,805 shares of the company’s stock worth $133,000 after buying an additional 3,321 shares in the last quarter. Bayesian Capital Management LP increased its stake in shares of Wendy’s by 9.9% in the first quarter. Bayesian Capital Management LP now owns 14,496 shares of the company’s stock worth $158,000 after buying an additional 1,300 shares in the last quarter. Finally, Invictus RG purchased a new stake in shares of Wendy’s during the first quarter worth about $162,000. Institutional investors own 81.02% of the company’s stock.
Shares of Wendy’s Co. (NASDAQ:WEN) traded up 0.19% during midday trading on Thursday, reaching $10.79. 473,733 shares of the company traded hands. Wendy’s Co. has a 12 month low of $8.57 and a 12 month high of $11.38. The company has a 50 day moving average of $10.49 and a 200 day moving average of $10.32. The firm has a market capitalization of $2.82 billion, a P/E ratio of 20.79 and a beta of 0.81.
Wendy’s (NASDAQ:WEN) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Wendy’s had a net margin of 8.59% and a return on equity of 15.94%. The firm earned $382.70 million during the quarter, compared to analyst estimates of $366.92 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. Wendy’s’s revenue for the quarter was down 21.8% compared to the same quarter last year. On average, equities research analysts predict that Wendy’s Co. will post $0.40 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.23%. The ex-dividend date was Tuesday, August 30th. Wendy’s’s dividend payout ratio (DPR) is 45.28%.
A number of equities analysts recently weighed in on the stock. Citigroup Inc. reaffirmed a “buy” rating and set a $13.00 price objective on shares of Wendy’s in a research report on Wednesday, October 5th. RBC Capital Markets cut shares of Wendy’s from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $12.00 to $11.00 in a research report on Tuesday, August 2nd. Zacks Investment Research cut shares of Wendy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Argus reaffirmed a “hold” rating on shares of Wendy’s in a research report on Tuesday, August 23rd. Finally, Vetr cut shares of Wendy’s from a “strong-buy” rating to a “buy” rating and set a $11.21 price objective for the company. in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $12.85.
The Wendy’s Company is the parent company of its subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is the restaurant company specializing in the hamburger sandwich segment.
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