The Wendy’s Company (NASDAQ:WEN) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund lowered its holdings in The Wendy’s Company (NASDAQ:WENGet Rating) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124,350 shares of the restaurant operator’s stock after selling 785 shares during the quarter. Texas Permanent School Fund owned 0.06% of Wendy’s worth $2,348,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WEN. Northwestern Mutual Wealth Management Co. raised its position in Wendy’s by 59.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,247 shares of the restaurant operator’s stock valued at $42,000 after acquiring an additional 836 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new position in shares of Wendy’s during the 1st quarter valued at approximately $47,000. Prospera Financial Services Inc acquired a new position in shares of Wendy’s in the 1st quarter valued at $68,000. Covestor Ltd boosted its holdings in Wendy’s by 85.1% during the first quarter. Covestor Ltd now owns 3,498 shares of the restaurant operator’s stock worth $77,000 after buying an additional 1,608 shares in the last quarter. Finally, Venture Visionary Partners LLC acquired a new stake in Wendy’s during the second quarter valued at $89,000. Hedge funds and other institutional investors own 70.88% of the company’s stock.

Wendy’s Price Performance

NASDAQ:WEN opened at $20.50 on Tuesday. The Wendy’s Company has a one year low of $15.77 and a one year high of $24.48. The stock has a market cap of $4.37 billion, a PE ratio of 23.56, a P/E/G ratio of 1.94 and a beta of 0.90. The company has a debt-to-equity ratio of 8.04, a quick ratio of 2.60 and a current ratio of 2.62. The stock has a 50 day moving average price of $19.91 and a 200 day moving average price of $19.49.

Wendy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.125 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.50 annualized dividend and a dividend yield of 2.44%. Wendy’s’s dividend payout ratio is presently 57.47%.

Wall Street Analyst Weigh In

WEN has been the topic of several recent analyst reports. Sanford C. Bernstein started coverage on shares of Wendy’s in a research note on Wednesday, September 7th. They set an “outperform” rating and a $25.00 target price on the stock. Royal Bank of Canada dropped their price objective on Wendy’s from $22.00 to $21.00 and set a “sector perform” rating on the stock in a report on Thursday, August 11th. Stephens began coverage on Wendy’s in a research note on Thursday, September 22nd. They set an “overweight” rating and a $25.00 target price for the company. StockNews.com started coverage on shares of Wendy’s in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Barclays increased their price objective on shares of Wendy’s from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.00.

Wendy’s Profile

(Get Rating)

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company. It operates through three segments: Wendy's U.S., Wendy's International, and Global Real Estate & Development. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.

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Institutional Ownership by Quarter for Wendy's (NASDAQ:WEN)

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