The Wendy’s Company (NASDAQ:WEN) Holdings Decreased by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of The Wendy’s Company (NASDAQ:WEN) by 24.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,434 shares of the restaurant operator’s stock after selling 25,796 shares during the quarter. Amalgamated Bank’s holdings in Wendy’s were worth $1,409,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Fort Pitt Capital Group LLC boosted its position in Wendy’s by 12.6% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 245,595 shares of the restaurant operator’s stock worth $4,303,000 after acquiring an additional 27,558 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of Wendy’s during the third quarter worth $194,000. GW Henssler & Associates Ltd. acquired a new stake in shares of Wendy’s during the third quarter worth $187,000. Pallas Capital Advisors LLC raised its position in shares of Wendy’s by 72.0% during the third quarter. Pallas Capital Advisors LLC now owns 66,843 shares of the restaurant operator’s stock worth $1,171,000 after purchasing an additional 27,989 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of Wendy’s by 3.8% during the third quarter. Nisa Investment Advisors LLC now owns 26,865 shares of the restaurant operator’s stock worth $471,000 after purchasing an additional 995 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 equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Stephens reissued an “equal weight” rating and set a $19.00 price objective on shares of Wendy’s in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price on Wendy’s from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of Wendy’s in a research report on Friday, November 1st. Finally, Barclays cut their price objective on Wendy’s from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.36.

Wendy’s Stock Up 0.2 %

NASDAQ:WEN opened at $18.42 on Thursday. The Wendy’s Company has a 1 year low of $15.61 and a 1 year high of $20.65. 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 market cap of $3.75 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.56 and a beta of 0.79. The stock has a 50-day moving average price of $18.44 and a two-hundred day moving average price of $17.70.

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 the consensus estimate of $0.25. The company had revenue of $566.70 million during the quarter, compared to analysts’ expectations of $560.50 million. Wendy’s had a return on equity of 70.02% and a net margin of 8.76%. Wendy’s’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. As a group, equities analysts expect that The Wendy’s Company will post 0.99 earnings per share for the current year.

Wendy’s Dividend Announcement

The company 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. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 5.43%. Wendy’s’s dividend payout ratio is currently 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.