Diversified Trust Co cut its position in Wendy’s Co. (NASDAQ:WEN) by 32.7% during the second quarter, Holdings Channel reports. The institutional investor owned 20,280 shares of the company’s stock after selling 9,855 shares during the period. Diversified Trust Co’s holdings in Wendy’s were worth $195,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. RS Investment Management Co. LLC increased its position in Wendy’s by 87.2% in the second quarter. RS Investment Management Co. LLC now owns 3,276,030 shares of the company’s stock worth $31,515,000 after buying an additional 1,526,300 shares in the last quarter. Bank of Montreal Can bought a new stake in Wendy’s during the second quarter worth about $147,000. LS Investment Advisors LLC boosted its stake in Wendy’s by 67.1% in the second quarter. LS Investment Advisors LLC now owns 13,324 shares of the company’s stock worth $128,000 after buying an additional 5,350 shares during the last quarter. IBM Retirement Fund boosted its stake in Wendy’s by 3.1% in the second quarter. IBM Retirement Fund now owns 21,175 shares of the company’s stock worth $204,000 after buying an additional 645 shares during the last quarter. Finally, Private Bank & Trust Co. bought a new stake in Wendy’s during the second quarter worth about $286,000. 81.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Wendy’s Co. (NASDAQ:WEN) traded up 1.79% during trading on Friday, reaching $10.80. The company had a trading volume of 3,302,376 shares. Wendy’s Co. has a 52-week low of $8.57 and a 52-week high of $11.38. The firm has a market capitalization of $2.82 billion, a P/E ratio of 20.81 and a beta of 0.83. The company has a 50 day moving average of $10.34 and a 200-day moving average of $10.30.
Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Wendy’s had a return on equity of 15.94% and a net margin of 8.59%. The firm had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $366.92 million. During the same period in the prior year, the business posted $0.08 earnings per share. The business’s revenue was down 21.8% compared to the same quarter last year. Equities analysts expect that Wendy’s Co. will post $0.40 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Tuesday, August 30th. Wendy’s’s dividend payout ratio (DPR) is 45.28%.
A number of equities research analysts have issued reports on WEN shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Wendy’s in a research note on Wednesday, June 22nd. Zacks Investment Research cut Wendy’s from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. RBC Capital Markets cut Wendy’s from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $12.00 to $11.00 in a research note on Tuesday, August 2nd. Stifel Nicolaus cut Wendy’s from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $12.00 to $11.00 in a research note on Tuesday, August 2nd. Finally, Vetr cut Wendy’s from a “strong-buy” rating to a “buy” rating and set a $11.21 target price on the stock. in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Wendy’s has a consensus rating of “Hold” and a consensus target price of $12.69.
The Wendy’s Company is the parent company of its subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is the restaurant company specializing in the hamburger sandwich segment.
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