Louisiana State Employees Retirement System reduced its stake in Wendys Co (NASDAQ:WEN) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,600 shares of the restaurant operator’s stock after selling 1,700 shares during the period. Louisiana State Employees Retirement System’s holdings in Wendys were worth $774,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Federated Investors Inc. PA raised its stake in Wendys by 0.8% in the third quarter. Federated Investors Inc. PA now owns 75,684 shares of the restaurant operator’s stock valued at $1,297,000 after buying an additional 623 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in shares of Wendys by 11.6% during the third quarter. Xact Kapitalforvaltning AB now owns 30,857 shares of the restaurant operator’s stock worth $529,000 after purchasing an additional 3,200 shares in the last quarter. State Treasurer State of Michigan increased its position in shares of Wendys by 4.8% during the third quarter. State Treasurer State of Michigan now owns 69,243 shares of the restaurant operator’s stock worth $1,187,000 after purchasing an additional 3,200 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Wendys by 22.9% during the third quarter. Hsbc Holdings PLC now owns 21,979 shares of the restaurant operator’s stock worth $377,000 after purchasing an additional 4,096 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its position in shares of Wendys by 35.3% during the third quarter. Riverhead Capital Management LLC now owns 16,109 shares of the restaurant operator’s stock worth $276,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 76.25% of the company’s stock.
In other Wendys news, COO Robert D. Wright sold 28,300 shares of Wendys stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $17.78, for a total value of $503,174.00. Following the sale, the chief operating officer now owns 48,467 shares of the company’s stock, valued at approximately $861,743.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.10% of the stock is currently owned by insiders.
WEN has been the topic of a number of research analyst reports. ValuEngine upgraded Wendys from a “hold” rating to a “buy” rating in a research report on Saturday, November 10th. Stifel Nicolaus cut Wendys from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Oppenheimer raised Wendys from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Wednesday, January 9th. Wedbush lowered Wendys from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $17.50 in a report on Wednesday, January 9th. Finally, Wells Fargo & Co lowered their price target on Wendys from $18.00 to $17.50 and set a “market perform” rating on the stock in a report on Thursday, November 8th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Wendys currently has a consensus rating of “Buy” and an average target price of $19.65.
WEN traded up $0.10 during trading on Friday, reaching $18.00. The company’s stock had a trading volume of 5,715,029 shares, compared to its average volume of 2,919,198. Wendys Co has a 52-week low of $14.96 and a 52-week high of $18.68. The firm has a market capitalization of $4.26 billion, a PE ratio of 41.86, a P/E/G ratio of 1.29 and a beta of 0.80. The company has a current ratio of 2.52, a quick ratio of 2.51 and a debt-to-equity ratio of 3.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.22%. This is a positive change from Wendys’s previous quarterly dividend of $0.09. Wendys’s payout ratio is currently 79.07%.
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The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.
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