Quest Partners LLC Has $74,000 Position in The Wendy’s Company (NASDAQ:WEN)

Quest Partners LLC decreased its holdings in shares of The Wendy’s Company (NASDAQ:WEN) by 72.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,217 shares of the restaurant operator’s stock after selling 11,279 shares during the quarter. Quest Partners LLC’s holdings in Wendy’s were worth $74,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Wendy’s by 76.8% during the second quarter. AQR Capital Management LLC now owns 6,813,786 shares of the restaurant operator’s stock worth $115,562,000 after acquiring an additional 2,960,526 shares during the period. Dimensional Fund Advisors LP boosted its stake in Wendy’s by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,094,694 shares of the restaurant operator’s stock valued at $69,446,000 after purchasing an additional 70,514 shares during the period. Squarepoint Ops LLC grew its holdings in Wendy’s by 113.6% in the 2nd quarter. Squarepoint Ops LLC now owns 3,491,376 shares of the restaurant operator’s stock valued at $59,214,000 after buying an additional 1,856,970 shares in the last quarter. Bank of New York Mellon Corp increased its position in Wendy’s by 3.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,745,202 shares of the restaurant operator’s stock worth $46,559,000 after buying an additional 102,512 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Wendy’s during the second quarter worth $42,085,000. 85.96% of the stock is owned by institutional investors.

Wendy’s Stock Down 0.9 %

WEN stock opened at $18.36 on Friday. The stock has a market capitalization of $3.74 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 2.58 and a beta of 0.79. 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 50-day moving average price of $18.67 and a 200-day moving average price of $17.61. 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 issued its earnings results on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. The firm had revenue of $566.70 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. As a group, equities research analysts anticipate that The Wendy’s Company will post 0.99 EPS for the current fiscal year.

Wendy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.45%. Wendy’s’s dividend payout ratio is currently 105.26%.

Wall Street Analysts Forecast Growth

WEN has been the topic of several research reports. BMO Capital Markets upped their price target on shares of Wendy’s from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Stephens restated an “equal weight” rating and set a $19.00 target price on shares of Wendy’s in a research report on Tuesday, November 19th. Truist Financial lifted their price target on shares of Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price target on Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Wendy’s in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.