Copley Financial Group Inc. Takes Position in The Wendy’s Company (NASDAQ:WEN)

Copley Financial Group Inc. bought a new stake in The Wendy’s Company (NASDAQ:WEN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 25,749 shares of the restaurant operator’s stock, valued at approximately $451,000.

A number of other institutional investors and hedge funds have also modified their holdings of WEN. Retirement Systems of Alabama increased its stake in Wendy’s by 16.9% during the 3rd 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 in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Wendy’s during the third quarter worth approximately $763,000. Sanctuary Advisors LLC raised its stake in Wendy’s by 175.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 68,316 shares of the restaurant operator’s stock valued at $1,228,000 after purchasing an additional 43,475 shares during the last quarter. Arete Wealth Advisors LLC lifted its holdings in Wendy’s by 42.6% in the 3rd quarter. Arete Wealth Advisors LLC now owns 14,854 shares of the restaurant operator’s stock valued at $260,000 after purchasing an additional 4,437 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Wendy’s by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,097,836 shares of the restaurant operator’s stock worth $54,287,000 after purchasing an additional 115,875 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Wendy’s Stock Down 0.9 %

WEN traded down $0.16 during trading hours on Friday, hitting $17.13. 167,341 shares of the company’s stock were exchanged, compared to its average volume of 3,514,268. 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 12-month low of $15.61 and a 12-month high of $20.65. The firm has a market cap of $3.49 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The firm has a 50 day moving average of $18.69 and a 200 day moving average of $17.58.

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

Wendy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date is Monday, December 2nd. Wendy’s’s dividend payout ratio is presently 105.26%.

Wall Street Analyst Weigh In

WEN has been the subject of several recent research reports. TD Cowen increased their price target on Wendy’s from $17.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of Wendy’s from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Tigress Financial restated a “buy” rating and set a $29.00 price target on shares of Wendy’s in a report on Wednesday, September 4th. Truist Financial upped their price objective on Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Stephens reissued an “equal weight” rating and set a $19.00 target price on shares of Wendy’s in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.36.

About Wendy’s

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.