M&T Bank Corp Acquires Shares of 11,889 The Wendy’s Company (NASDAQ:WEN)

M&T Bank Corp bought a new position in The Wendy’s Company (NASDAQ:WEN) during the third quarter, Holdings Channel.com reports. The firm bought 11,889 shares of the restaurant operator’s stock, valued at approximately $208,000.

Other institutional investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wendy’s during the 2nd quarter worth approximately $27,000. Quarry LP bought a new position in Wendy’s in the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC purchased a new position in Wendy’s in the 2nd quarter valued at approximately $33,000. Signaturefd LLC raised its holdings in Wendy’s by 94.7% during the 2nd quarter. Signaturefd LLC now owns 2,644 shares of the restaurant operator’s stock valued at $45,000 after acquiring an additional 1,286 shares during the period. Finally, AM Squared Ltd purchased a new stake in shares of Wendy’s during the third quarter worth $49,000. 85.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of Wendy’s in a research note on Friday, November 1st. BMO Capital Markets upped their price target on Wendy’s from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Truist Financial raised their price objective on shares of Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wolfe Research raised shares of Wendy’s to a “strong-buy” rating in a report on Friday, September 13th. Finally, Tigress Financial reissued a “buy” rating and issued a $29.00 price target on shares of Wendy’s in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, fourteen 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.36.

Wendy’s Price Performance

WEN opened at $16.57 on Friday. The Wendy’s Company has a 12-month low of $15.61 and a 12-month high of $20.65. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. 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 stock has a fifty day simple moving average of $18.60 and a two-hundred day simple moving average of $17.56.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings results on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share (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 analysts’ expectations of $560.50 million. During the same period last year, the company posted $0.27 EPS. Wendy’s’s revenue was up 2.9% on a year-over-year basis. Research analysts predict that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend was Monday, December 2nd. 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.