Merit Financial Group LLC Purchases Shares of 28,440 The Wendy’s Company (NASDAQ:WEN)

Merit Financial Group LLC purchased a new position in shares of The Wendy’s Company (NASDAQ:WEN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,440 shares of the restaurant operator’s stock, valued at approximately $464,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in Wendy’s during the second quarter valued at about $27,000. Quarry LP purchased a new position in Wendy’s in the second quarter valued at approximately $30,000. GAMMA Investing LLC increased its holdings in Wendy’s by 168.1% in the 4th 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 during the last quarter. AM Squared Ltd purchased a new position in shares of Wendy’s in the third quarter worth about $49,000. Finally, Signaturefd LLC raised its holdings in Wendy’s by 39.6% during the 3rd quarter. Signaturefd LLC now owns 3,690 shares of the restaurant operator’s stock valued at $65,000 after acquiring an additional 1,046 shares during the period. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wendy’s Stock Performance

Wendy’s stock opened at $14.22 on Friday. The Wendy’s Company has a twelve month low of $13.98 and a twelve month high of $20.65. The company has a quick ratio of 2.08, a current ratio of 2.10 and a debt-to-equity ratio of 12.64. The stock’s 50 day moving average is $16.65 and its 200 day moving average is $17.37. The company has a market capitalization of $2.90 billion, a P/E ratio of 14.97, a PEG ratio of 1.91 and a beta of 0.78.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share for the quarter, meeting the consensus estimate of $0.25. The company had revenue of $566.70 million during the quarter, compared to the consensus estimate of $560.50 million. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. On average, equities research analysts predict that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 7.03%. Wendy’s’s dividend payout ratio (DPR) is presently 105.26%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WEN. TD Cowen upped their price target on Wendy’s from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Truist Financial upped their price objective on Wendy’s from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus reduced their target price on shares of Wendy’s from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Friday, January 10th. UBS Group reduced their price target on Wendy’s from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley restated an “underweight” rating and issued a $14.00 price objective (down previously from $22.00) on shares of Wendy’s in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wendy’s currently has an average rating of “Hold” and a consensus price target of $19.71.

Wendy’s Profile

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.