Bank of Montreal Can boosted its stake in Wendys Co (NASDAQ:WEN) by 15.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,230 shares of the restaurant operator’s stock after acquiring an additional 21,720 shares during the quarter. Bank of Montreal Can owned 0.07% of Wendys worth $2,763,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of WEN. Toronto Dominion Bank acquired a new position in shares of Wendys during the 2nd quarter worth about $112,000. Itau Unibanco Holding S.A. acquired a new position in shares of Wendys during the 2nd quarter worth about $152,000. Fox Run Management L.L.C. acquired a new position in shares of Wendys during the 3rd quarter worth about $202,000. Private Advisor Group LLC acquired a new position in shares of Wendys during the 2nd quarter worth about $213,000. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Wendys during the 2nd quarter worth about $215,000. 77.65% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ WEN opened at $17.08 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 1.71 and a debt-to-equity ratio of 6.44. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 39.72, a price-to-earnings-growth ratio of 1.41 and a beta of 0.53. Wendys Co has a 12-month low of $13.57 and a 12-month high of $18.68.
Wendys (NASDAQ:WEN) last posted its quarterly earnings data on Tuesday, November 6th. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. The firm had revenue of $400.55 million during the quarter, compared to the consensus estimate of $405.54 million. Wendys had a net margin of 15.87% and a return on equity of 23.08%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. On average, research analysts forecast that Wendys Co will post 0.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, November 30th. Wendys’s dividend payout ratio (DPR) is presently 79.07%.
Several brokerages recently commented on WEN. Zacks Investment Research raised shares of Wendys from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Saturday, October 13th. BidaskClub downgraded shares of Wendys from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Bank of America lifted their target price on shares of Wendys from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, August 17th. KeyCorp began coverage on shares of Wendys in a report on Wednesday, October 3rd. They set a “sector weight” rating for the company. Finally, Morgan Stanley lifted their target price on shares of Wendys from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, August 17th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Wendys presently has an average rating of “Buy” and a consensus target price of $18.93.
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Wendys Company Profile
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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