The Wendy’s Company (NASDAQ:WEN) Shares Acquired by Huntington National Bank

Huntington National Bank increased its position in shares of The Wendy’s Company (NASDAQ:WEN) by 11.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,844 shares of the restaurant operator’s stock after purchasing an additional 1,256 shares during the period. Huntington National Bank’s holdings in Wendy’s were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wendy’s during the 2nd quarter worth $27,000. Quarry LP purchased a new stake in Wendy’s during the second quarter worth about $30,000. International Assets Investment Management LLC acquired a new position in Wendy’s during the second quarter worth about $33,000. Bessemer Group Inc. increased its holdings in Wendy’s by 483.2% in the first quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock valued at $35,000 after buying an additional 1,551 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Wendy’s during the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Analysts Set New Price Targets

WEN has been the topic of a number of research reports. Stephens restated an “equal weight” rating and issued a $19.00 price target on shares of Wendy’s in a report on Thursday, October 31st. TD Cowen raised their price target on Wendy’s from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. BMO Capital Markets boosted their price objective on shares of Wendy’s from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Barclays dropped their target price on shares of Wendy’s from $20.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Piper Sandler reduced their price target on shares of Wendy’s from $23.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.36.

Wendy’s Stock Performance

Wendy’s stock opened at $18.12 on Monday. The stock has a fifty day moving average price of $18.49 and a 200 day moving average price of $17.66. 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 Wendy’s Company has a 52 week low of $15.61 and a 52 week high of $20.65. The firm has a market capitalization of $3.69 billion, a P/E ratio of 19.07, a PEG ratio of 2.52 and a beta of 0.79.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Thursday, October 31st. The restaurant operator reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The company had revenue of $566.70 million during the quarter, compared to the consensus estimate of $560.50 million. During the same quarter in the prior year, the company posted $0.27 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that The Wendy’s Company will post 0.99 earnings per share for the current year.

Wendy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.52%. Wendy’s’s dividend payout ratio (DPR) is presently 105.26%.

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.