Russell Investments Group Ltd. decreased its stake in shares of Wendys Co (NASDAQ:WEN) by 48.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 254,155 shares of the restaurant operator’s stock after selling 237,868 shares during the quarter. Russell Investments Group Ltd.’s holdings in Wendys were worth $4,367,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Aperio Group LLC raised its stake in Wendys by 10.6% during the first quarter. Aperio Group LLC now owns 31,048 shares of the restaurant operator’s stock valued at $545,000 after buying an additional 2,969 shares during the last quarter. Arizona State Retirement System raised its stake in Wendys by 2.6% during the second quarter. Arizona State Retirement System now owns 124,560 shares of the restaurant operator’s stock valued at $2,140,000 after buying an additional 3,118 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Wendys by 0.8% in the 1st quarter. Neuberger Berman Group LLC now owns 571,918 shares of the restaurant operator’s stock worth $10,037,000 after purchasing an additional 4,346 shares in the last quarter. Federated Investors Inc. PA increased its holdings in shares of Wendys by 6.2% in the 1st quarter. Federated Investors Inc. PA now owns 76,910 shares of the restaurant operator’s stock worth $1,350,000 after purchasing an additional 4,517 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Wendys by 12.5% in the 2nd quarter. Amalgamated Bank now owns 45,852 shares of the restaurant operator’s stock worth $788,000 after purchasing an additional 5,111 shares in the last quarter. Institutional investors and hedge funds own 80.61% of the company’s stock.
Shares of WEN opened at $17.57 on Monday. The company has a debt-to-equity ratio of 6.44, a current ratio of 1.71 and a quick ratio of 1.70. Wendys Co has a one year low of $13.57 and a one year high of $18.68. The firm has a market capitalization of $4.20 billion, a P/E ratio of 40.86, a PEG ratio of 1.47 and a beta of 0.62.
Wendys (NASDAQ:WEN) last issued its quarterly earnings data on Tuesday, August 7th. The restaurant operator reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). Wendys had a return on equity of 23.08% and a net margin of 15.87%. The firm had revenue of $411.00 million during the quarter. During the same period in the prior year, the firm earned $0.15 earnings per share. equities research analysts predict that Wendys Co will post 0.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be issued a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, August 31st. Wendys’s payout ratio is currently 79.07%.
A number of analysts have commented on the company. Zacks Investment Research raised Wendys from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Sunday, July 15th. BidaskClub raised Wendys from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. Argus lifted their target price on Wendys from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Bank of America lifted their target price on Wendys from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, August 17th. Finally, Citigroup lifted their target price on Wendys from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, June 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.74.
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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