Transcendent Capital Group LLC Raises Position in The Wendy’s Company (NASDAQ:WEN)

Transcendent Capital Group LLC increased its position in shares of The Wendy’s Company (NASDAQ:WEN) by 2,334.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,869 shares of the restaurant operator’s stock after purchasing an additional 4,669 shares during the period. Transcendent Capital Group LLC’s holdings in Wendy’s were worth $79,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Wendy’s by 670.3% during the 4th quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator’s stock worth $25,000 after buying an additional 1,220 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Wendy’s by 168.1% in the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 1,400 shares during the period. AM Squared Ltd purchased a new stake in shares of Wendy’s during the 3rd quarter worth $49,000. Bartlett & CO. Wealth Management LLC grew its stake in shares of Wendy’s by 46.4% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 3,107 shares of the restaurant operator’s stock worth $51,000 after purchasing an additional 985 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Wendy’s by 39.6% during the 3rd quarter. Signaturefd LLC now owns 3,690 shares of the restaurant operator’s stock worth $65,000 after purchasing an additional 1,046 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Truist Financial decreased their price objective on shares of Wendy’s from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Argus raised Wendy’s to a “strong-buy” rating in a research note on Tuesday, February 18th. Barclays dropped their price objective on Wendy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. BMO Capital Markets boosted their target price on Wendy’s from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus lowered their target price on Wendy’s from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Wendy’s has an average rating of “Hold” and a consensus price target of $18.73.

Wendy’s Price Performance

Shares of NASDAQ:WEN opened at $15.94 on Tuesday. The company has a market cap of $3.25 billion, a P/E ratio of 16.78, a P/E/G ratio of 2.00 and a beta of 0.77. The business has a fifty day simple moving average of $15.30 and a 200-day simple moving average of $17.04. 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 1.83, a current ratio of 1.85 and a debt-to-equity ratio of 12.48.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Thursday, February 13th. The restaurant operator reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Wendy’s had a net margin of 8.65% and a return on equity of 75.56%. The company had revenue of $574.27 million during the quarter, compared to the consensus estimate of $564.17 million. Equities research analysts forecast that The Wendy’s Company will post 0.99 EPS for the current year.

Wendy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.27%. The ex-dividend date of this dividend is Monday, March 3rd. Wendy’s’s dividend payout ratio (DPR) is currently 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.