Advisors Asset Management Inc. cut its stake in The Wendy’s Company (NASDAQ:WEN – Get Rating) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,199 shares of the restaurant operator’s stock after selling 643 shares during the period. Advisors Asset Management Inc.’s holdings in Wendy’s were worth $268,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of WEN. SG Americas Securities LLC lifted its position in Wendy’s by 42.2% in the first quarter. SG Americas Securities LLC now owns 55,045 shares of the restaurant operator’s stock valued at $1,209,000 after acquiring an additional 16,332 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Wendy’s by 11.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 5,776 shares of the restaurant operator’s stock valued at $127,000 after acquiring an additional 600 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Wendy’s by 1.9% in the first quarter. Mutual of America Capital Management LLC now owns 160,966 shares of the restaurant operator’s stock valued at $3,536,000 after acquiring an additional 3,065 shares during the last quarter. First National Trust Co purchased a new stake in Wendy’s in the first quarter valued at $233,000. Finally, Envestnet Asset Management Inc. lifted its position in Wendy’s by 16.8% in the first quarter. Envestnet Asset Management Inc. now owns 150,282 shares of the restaurant operator’s stock valued at $3,302,000 after acquiring an additional 21,635 shares during the last quarter. 70.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
WEN has been the topic of a number of recent research reports. Stephens initiated coverage on shares of Wendy’s in a research note on Thursday, September 22nd. They issued an “overweight” rating and a $25.00 price objective on the stock. Citigroup dropped their price objective on shares of Wendy’s from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, November 10th. BMO Capital Markets lifted their price objective on shares of Wendy’s from $18.00 to $20.00 in a research note on Thursday, August 11th. Morgan Stanley dropped their price objective on shares of Wendy’s from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 11th. Finally, Guggenheim set a $24.00 price objective on shares of Wendy’s in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Wendy’s has a consensus rating of “Hold” and an average price target of $24.07.
Wendy’s Price Performance
Wendy’s Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, November 30th. Wendy’s’s payout ratio is currently 57.47%.
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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