C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New $1.73 Million Investment in The Wendy’s Company (NASDAQ:WEN)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of The Wendy’s Company (NASDAQ:WEN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 106,321 shares of the restaurant operator’s stock, valued at approximately $1,733,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned approximately 0.05% of Wendy’s at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in WEN. Retirement Systems of Alabama lifted its position in Wendy’s by 16.9% in the third quarter. Retirement Systems of Alabama now owns 711,267 shares of the restaurant operator’s stock worth $12,461,000 after buying an additional 102,769 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Wendy’s in the fourth quarter valued at $357,000. Assenagon Asset Management S.A. purchased a new position in shares of Wendy’s during the 4th quarter worth about $13,358,000. Quantinno Capital Management LP boosted its stake in shares of Wendy’s by 90.8% during the 3rd quarter. Quantinno Capital Management LP now owns 109,747 shares of the restaurant operator’s stock worth $1,923,000 after purchasing an additional 52,225 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Wendy’s during the 3rd quarter valued at about $1,659,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on WEN. UBS Group decreased their price objective on shares of Wendy’s from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group decreased their price target on Wendy’s from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Thursday, February 6th. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Wendy’s in a research report on Friday, November 1st. Stifel Nicolaus decreased their target price on Wendy’s from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Friday, January 10th. Finally, Truist Financial boosted their target price on shares of Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.65.

Wendy’s Stock Down 0.7 %

Wendy’s stock opened at $14.22 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.10 and a debt-to-equity ratio of 12.64. The firm has a market cap of $2.90 billion, a P/E ratio of 14.97, a P/E/G ratio of 2.27 and a beta of 0.77. The business has a fifty day moving average of $15.67 and a two-hundred day moving average of $17.15. The Wendy’s Company has a twelve month low of $13.98 and a twelve month high of $20.65.

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.