MetLife Investment Management LLC Increases Holdings in The Wendy’s Company (NASDAQ:WEN)

MetLife Investment Management LLC increased its position in shares of The Wendy’s Company (NASDAQ:WEN) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,132 shares of the restaurant operator’s stock after purchasing an additional 590 shares during the quarter. MetLife Investment Management LLC’s holdings in Wendy’s were worth $1,614,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wendy’s during the 2nd quarter worth approximately $27,000. Quarry LP purchased a new stake in Wendy’s during the 2nd quarter worth about $30,000. International Assets Investment Management LLC acquired a new position in Wendy’s in the 2nd quarter valued at about $33,000. Signaturefd LLC lifted its holdings in Wendy’s by 94.7% in the 2nd quarter. Signaturefd LLC now owns 2,644 shares of the restaurant operator’s stock valued at $45,000 after purchasing an additional 1,286 shares in the last quarter. Finally, AM Squared Ltd acquired a new stake in shares of Wendy’s during the 3rd quarter worth about $49,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wendy’s Stock Performance

Shares of NASDAQ:WEN opened at $17.69 on Friday. The business’s 50-day simple moving average is $18.70 and its 200 day simple moving average is $17.59. The company has a market cap of $3.61 billion, a P/E ratio of 18.62, a PEG ratio of 2.49 and a beta of 0.77. The company has a debt-to-equity ratio of 12.64, a quick ratio of 2.08 and a current ratio of 2.10. The Wendy’s Company has a one year low of $15.61 and a one year high of $20.65.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings data on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 the consensus estimate of $560.50 million. During the same quarter last year, the company earned $0.27 earnings per share. Wendy’s’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, sell-side analysts forecast that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.65%. Wendy’s’s payout ratio is currently 105.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WEN shares. 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. Stephens restated an “equal weight” rating and set a $19.00 price objective on shares of Wendy’s in a report on Tuesday, November 19th. Wolfe Research upgraded Wendy’s to a “strong-buy” rating in a research note on Friday, September 13th. Tigress Financial reiterated a “buy” rating and set a $29.00 target price on shares of Wendy’s in a research report on Wednesday, September 4th. Finally, Citigroup upped their price objective on shares of Wendy’s from $18.00 to $18.75 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wendy’s presently has a consensus rating of “Hold” and a consensus price target of $20.36.

About Wendy’s

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.