Verition Fund Management LLC Has $922,000 Stake in The Wendy’s Company (NASDAQ:WEN)

Verition Fund Management LLC cut its stake in The Wendy’s Company (NASDAQ:WEN) by 72.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,614 shares of the restaurant operator’s stock after selling 138,723 shares during the period. Verition Fund Management LLC’s holdings in Wendy’s were worth $922,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in Wendy’s during the second quarter worth $27,000. Quarry LP acquired a new position in shares of Wendy’s during the 2nd quarter worth about $30,000. International Assets Investment Management LLC bought a new position in shares of Wendy’s in the 2nd quarter valued at about $33,000. Signaturefd LLC increased its position in shares of Wendy’s by 94.7% in the second 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 last quarter. Finally, AM Squared Ltd acquired a new position in Wendy’s during the third quarter valued at approximately $49,000. Institutional investors own 85.96% of the company’s stock.

Wendy’s Stock Down 1.2 %

Shares of WEN opened at $17.48 on Monday. 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’s 50 day moving average is $18.69 and its 200-day moving average is $17.59. The stock has a market capitalization of $3.56 billion, a PE ratio of 18.40, a P/E/G ratio of 2.50 and a beta of 0.77.

Wendy’s (NASDAQ:WEN) last released its earnings results on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. Wendy’s had a return on equity of 70.02% and a net margin of 8.76%. The firm had revenue of $566.70 million during the quarter, compared to the consensus estimate of $560.50 million. During the same period in the prior year, the company posted $0.27 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that The Wendy’s Company will post 0.99 EPS for the current year.

Wendy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend is Monday, December 2nd. Wendy’s’s payout ratio is presently 105.26%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Truist Financial boosted their price target on Wendy’s from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stephens reaffirmed an “equal weight” rating and set a $19.00 price target on shares of Wendy’s in a research report on Tuesday, November 19th. Wedbush reissued a “neutral” rating and issued a $20.00 price objective on shares of Wendy’s in a research report on Friday, November 1st. Citigroup upped their target price on shares of Wendy’s from $18.00 to $18.75 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Finally, Tigress Financial reiterated a “buy” rating and set a $29.00 price target on shares of Wendy’s in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.36.

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.