The Wendy’s Company (NASDAQ:WEN) Stock Position Raised by Centiva Capital LP

Centiva Capital LP increased its stake in The Wendy’s Company (NASDAQ:WEN) by 444.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 236,318 shares of the restaurant operator’s stock after buying an additional 192,898 shares during the period. Centiva Capital LP’s holdings in Wendy’s were worth $3,852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Franklin Resources Inc. acquired a new position in Wendy’s in the 3rd quarter worth approximately $763,000. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 1,400 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Wendy’s by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 152,549 shares of the restaurant operator’s stock worth $2,673,000 after buying an additional 2,087 shares during the period. Miracle Mile Advisors LLC purchased a new position in shares of Wendy’s during the fourth quarter valued at $357,000. Finally, Oak Thistle LLC purchased a new position in shares of Wendy’s during the fourth quarter valued at $516,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Wendy’s Price Performance

NASDAQ WEN opened at $12.52 on Tuesday. The Wendy’s Company has a 1 year low of $12.05 and a 1 year high of $20.60. The company has a fifty day simple moving average of $13.98 and a 200 day simple moving average of $15.79. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48. The company has a market cap of $2.46 billion, a P/E ratio of 13.18, a P/E/G ratio of 2.00 and a beta of 0.40.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. The company had revenue of $523.47 million during the quarter, compared to analysts’ expectations of $530.11 million. Wendy’s had a net margin of 8.65% and a return on equity of 75.56%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share. On average, sell-side analysts predict that The Wendy’s Company will post 0.99 EPS for the current year.

Wendy’s Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.47%. The ex-dividend date is Monday, June 2nd. Wendy’s’s dividend payout ratio is currently 59.57%.

Analysts Set New Price Targets

WEN has been the subject of a number of research reports. The Goldman Sachs Group decreased their price objective 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. Citigroup raised their price target on shares of Wendy’s from $15.50 to $16.50 and gave the stock a “neutral” rating in a report on Friday, March 7th. Truist Financial dropped their price objective on shares of Wendy’s from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday. Wedbush reissued a “neutral” rating and set a $16.00 target price on shares of Wendy’s in a research note on Friday, March 7th. Finally, Loop Capital dropped their price target on shares of Wendy’s from $26.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.81.

Wendy’s Profile

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy’s U.S., Wendy’s International, and Global Real Estate and Development. The Wendy’s U.S. segment includes the operation and franchising of Wendy’s restaurants in the U.S.