Bank of Montreal Can Has $2.28 Million Position in The Wendy’s Company (NASDAQ:WEN)

Bank of Montreal Can decreased its position in shares of The Wendy’s Company (NASDAQ:WEN) by 85.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,887 shares of the restaurant operator’s stock after selling 738,991 shares during the period. Bank of Montreal Can owned about 0.06% of Wendy’s worth $2,275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC grew its position in Wendy’s by 10.9% in the first quarter. Tidal Investments LLC now owns 16,079 shares of the restaurant operator’s stock valued at $303,000 after acquiring an additional 1,577 shares during the last quarter. CWM LLC lifted its stake in Wendy’s by 312.2% in the 2nd quarter. CWM LLC now owns 49,436 shares of the restaurant operator’s stock valued at $838,000 after purchasing an additional 37,443 shares during the last quarter. SG Americas Securities LLC boosted its position in Wendy’s by 221.0% in the second quarter. SG Americas Securities LLC now owns 41,094 shares of the restaurant operator’s stock valued at $697,000 after buying an additional 28,294 shares in the last quarter. Granite Bay Wealth Management LLC bought a new stake in shares of Wendy’s during the second quarter worth $1,718,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Wendy’s by 52.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 40,044 shares of the restaurant operator’s stock worth $679,000 after buying an additional 13,703 shares in the last quarter. 85.96% of the stock is owned by institutional investors.

Wendy’s Trading Down 1.6 %

NASDAQ WEN opened at $17.69 on Friday. 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 capitalization of $3.61 billion, a P/E ratio of 18.92, a PEG ratio of 2.49 and a beta of 0.77. The business has a fifty day simple moving average of $18.70 and a 200 day simple moving average of $17.59. The Wendy’s Company has a 12 month low of $15.61 and a 12 month high of $20.65.

Wendy’s (NASDAQ:WEN) last posted its earnings results on Thursday, October 31st. The restaurant operator reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The firm had revenue of $566.70 million for the quarter, compared to analysts’ expectations of $560.50 million. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The company’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 EPS. On average, analysts predict that The Wendy’s Company will post 0.99 EPS for the current fiscal year.

Wendy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 5.65%. Wendy’s’s payout ratio is currently 105.26%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WEN. Stephens restated an “equal weight” rating and set a $19.00 price target on shares of Wendy’s in a report on Tuesday, November 19th. Wolfe Research raised shares of Wendy’s to a “strong-buy” rating in a report on Friday, September 13th. Citigroup raised their price target on shares of Wendy’s from $18.00 to $18.75 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Tigress Financial reissued a “buy” rating and issued a $29.00 price objective on shares of Wendy’s in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised their target price on Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.36.

Wendy’s Company 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.