The Wendy’s Company (NASDAQ:WEN) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System reduced its position in shares of The Wendy’s Company (NASDAQ:WEN) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,028 shares of the restaurant operator’s stock after selling 21,228 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of Wendy’s worth $6,244,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its stake in shares of Wendy’s by 20.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 38,946 shares of the restaurant operator’s stock worth $842,000 after purchasing an additional 6,575 shares during the last quarter. Truist Financial Corp boosted its position in shares of Wendy’s by 6.4% in the third quarter. Truist Financial Corp now owns 16,690 shares of the restaurant operator’s stock worth $362,000 after acquiring an additional 997 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in shares of Wendy’s by 9.9% in the third quarter. Advisor Group Holdings Inc. now owns 32,185 shares of the restaurant operator’s stock worth $698,000 after acquiring an additional 2,887 shares during the last quarter. AdvisorShares Investments LLC boosted its position in shares of Wendy’s by 63.1% in the third quarter. AdvisorShares Investments LLC now owns 7,546 shares of the restaurant operator’s stock worth $164,000 after acquiring an additional 2,920 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Wendy’s by 3.5% in the third quarter. Treasurer of the State of North Carolina now owns 64,176 shares of the restaurant operator’s stock worth $1,391,000 after acquiring an additional 2,159 shares during the last quarter. 70.39% of the stock is currently owned by institutional investors.

WEN opened at $23.32 on Friday. The firm has a market capitalization of $5.15 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.79 and a beta of 0.96. The firm’s 50 day moving average is $22.55 and its 200-day moving average is $22.63. The Wendy’s Company has a 52-week low of $18.86 and a 52-week high of $29.46. The company has a quick ratio of 2.06, a current ratio of 2.07 and a debt-to-equity ratio of 5.32.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, November 10th. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $470.26 million for the quarter, compared to analyst estimates of $471.05 million. Wendy’s had a net margin of 9.85% and a return on equity of 34.33%. During the same quarter last year, the firm posted $0.19 earnings per share. Equities analysts expect that The Wendy’s Company will post 0.81 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Wednesday, December 1st were paid a $0.12 dividend. The ex-dividend date was Tuesday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.06%. Wendy’s’s dividend payout ratio (DPR) is presently 58.54%.

Several research firms recently issued reports on WEN. Bank of America began coverage on shares of Wendy’s in a research report on Tuesday. They issued an “underperform” rating on the stock. Loop Capital began coverage on shares of Wendy’s in a research report on Tuesday, October 5th. They issued a “buy” rating and a $31.00 target price on the stock. Stephens raised their target price on shares of Wendy’s from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 5th. Royal Bank of Canada decreased their target price on shares of Wendy’s from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 11th. Finally, Argus cut shares of Wendy’s from a “buy” rating to a “hold” rating in a research report on Tuesday, November 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wendy’s presently has an average rating of “Buy” and a consensus target price of $27.47.

Wendy’s Company Profile

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid’s meals.

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Institutional Ownership by Quarter for Wendy's (NASDAQ:WEN)

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