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

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in The Wendy’s Company (NASDAQ:WEN) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 106,321 shares of the restaurant operator’s stock, valued at approximately $1,733,000.

Several other large investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. grew its position in Wendy’s by 159.6% in the third quarter. Point72 Asset Management L.P. now owns 6,440,880 shares of the restaurant operator’s stock worth $112,844,000 after acquiring an additional 3,959,480 shares in the last quarter. State Street Corp grew its position in Wendy’s by 0.7% in the third quarter. State Street Corp now owns 5,187,593 shares of the restaurant operator’s stock worth $90,887,000 after acquiring an additional 37,801 shares in the last quarter. Geode Capital Management LLC grew its position in Wendy’s by 3.9% in the third quarter. Geode Capital Management LLC now owns 3,097,836 shares of the restaurant operator’s stock worth $54,287,000 after acquiring an additional 115,875 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Wendy’s in the fourth quarter worth about $13,358,000. Finally, Gradient Investments LLC grew its position in Wendy’s by 11.6% in the fourth quarter. Gradient Investments LLC now owns 772,575 shares of the restaurant operator’s stock worth $12,593,000 after acquiring an additional 80,055 shares in the last quarter. 85.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WEN shares. The Goldman Sachs Group dropped their target price on Wendy’s from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Thursday, February 6th. Barclays dropped their target price on Wendy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Wedbush boosted their target price on Wendy’s from $15.50 to $16.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Stephens restated an “equal weight” rating and set a $15.00 target price on shares of Wendy’s in a research report on Thursday, February 13th. Finally, Truist Financial dropped their target price on Wendy’s from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.93.

Wendy’s Stock Performance

Shares of NASDAQ:WEN opened at $14.99 on Wednesday. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.27 and a beta of 0.77. The Wendy’s Company has a 52 week low of $13.72 and a 52 week high of $20.65. 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 50 day moving average of $15.43 and a 200 day moving average of $17.08.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings data on Thursday, February 13th. The restaurant operator reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $574.27 million during the quarter, compared to the consensus estimate of $564.17 million. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. On average, sell-side analysts predict that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date is Monday, March 3rd. Wendy’s’s dividend payout ratio (DPR) is 105.26%.

Wendy’s 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.