The Wendy’s Company (NASDAQ:WEN) Holdings Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in shares of The Wendy’s Company (NASDAQ:WEN) by 14.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,523 shares of the restaurant operator’s stock after selling 3,339 shares during the period. PNC Financial Services Group Inc.’s holdings in Wendy’s were worth $318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Wendy’s by 670.3% during the 4th quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 1,220 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Wendy’s in the fourth quarter worth $30,000. GAMMA Investing LLC boosted its holdings in Wendy’s by 168.1% in the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 1,400 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in 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 purchasing an additional 985 shares in the last quarter. Finally, Transcendent Capital Group LLC boosted its holdings in Wendy’s by 2,334.5% in the fourth quarter. Transcendent Capital Group LLC now owns 4,869 shares of the restaurant operator’s stock worth $79,000 after purchasing an additional 4,669 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wendy’s Price Performance

WEN opened at $15.26 on Friday. The Wendy’s Company has a one year low of $13.72 and a one year high of $20.65. The company has a debt-to-equity ratio of 12.48, a current ratio of 1.85 and a quick ratio of 1.83. The company’s 50 day simple moving average is $14.98 and its 200-day simple moving average is $16.83. The stock has a market capitalization of $3.06 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 2.00 and a beta of 0.73.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Thursday, February 13th. The restaurant operator reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Wendy’s had a net margin of 8.65% and a return on equity of 75.56%. The business had revenue of $574.27 million for the quarter, compared to analysts’ expectations of $564.17 million. Sell-side analysts anticipate 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, March 17th. Investors of record on Monday, March 3rd were issued a $0.25 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 6.55%. Wendy’s’s dividend payout ratio is currently 105.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Argus raised shares of Wendy’s to a “strong-buy” rating in a research report on Tuesday, February 18th. Stephens reaffirmed an “equal weight” rating and set a $15.00 price objective on shares of Wendy’s in a research report on Thursday, March 6th. Truist Financial cut their price objective on shares of Wendy’s from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, February 14th. TD Securities reissued a “hold” rating and issued a $16.00 price target on shares of Wendy’s in a research report on Friday, March 7th. Finally, Stifel Nicolaus dropped their price target on shares of Wendy’s from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.08.

About Wendy’s

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid’s meals.