PNC Financial Services Group Inc. Cuts Stock Position in The Wendy’s Company (NASDAQ:WEN)

PNC Financial Services Group Inc. lowered its position in The Wendy’s Company (NASDAQ:WENFree Report) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,444 shares of the restaurant operator’s stock after selling 1,275 shares during the period. PNC Financial Services Group Inc.’s holdings in Wendy’s were worth $242,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of WEN. Russell Investments Group Ltd. boosted its stake in Wendy’s by 22.2% in the 4th quarter. Russell Investments Group Ltd. now owns 3,220 shares of the restaurant operator’s stock worth $63,000 after purchasing an additional 586 shares in the last quarter. HB Wealth Management LLC boosted its stake in Wendy’s by 5.5% in the 4th quarter. HB Wealth Management LLC now owns 15,461 shares of the restaurant operator’s stock worth $301,000 after purchasing an additional 805 shares in the last quarter. Paradigm Financial Partners LLC boosted its stake in Wendy’s by 3.5% in the 4th quarter. Paradigm Financial Partners LLC now owns 24,355 shares of the restaurant operator’s stock worth $474,000 after purchasing an additional 820 shares in the last quarter. Fifth Third Bancorp boosted its stake in Wendy’s by 58.0% in the 4th quarter. Fifth Third Bancorp now owns 2,352 shares of the restaurant operator’s stock worth $46,000 after purchasing an additional 863 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in Wendy’s by 4.7% during the 4th quarter. Arkadios Wealth Advisors now owns 20,320 shares of the restaurant operator’s stock valued at $396,000 after acquiring an additional 915 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Insider Transactions at Wendy’s

In other news, CMO Juan Carlos Loredo sold 44,806 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $19.50, for a total transaction of $873,717.00. Following the completion of the sale, the chief marketing officer now owns 27,586 shares of the company’s stock, valued at $537,927. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 17.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on WEN shares. Citigroup lifted their price objective on shares of Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Wedbush lifted their price objective on shares of Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Piper Sandler lifted their price objective on shares of Wendy’s from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Royal Bank of Canada decreased their price objective on shares of Wendy’s from $22.00 to $20.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Wendy’s from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday. Fourteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Wendy’s has an average rating of “Hold” and a consensus target price of $22.11.

View Our Latest Report on Wendy’s

Wendy’s Price Performance

Shares of NASDAQ WEN opened at $17.04 on Friday. The firm has a market cap of $3.50 billion, a PE ratio of 17.21, a PEG ratio of 1.74 and a beta of 0.77. The firm has a fifty day moving average of $18.66 and a 200 day moving average of $18.90. The company has a debt-to-equity ratio of 11.21, a quick ratio of 2.02 and a current ratio of 2.04. The Wendy’s Company has a one year low of $16.65 and a one year high of $22.59.

Wendy’s (NASDAQ:WENGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. The company had revenue of $534.80 million during the quarter, compared to analyst estimates of $540.84 million. Wendy’s had a net margin of 9.44% and a return on equity of 62.68%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. As a group, research analysts predict that The Wendy’s Company will post 1 EPS for the current fiscal year.

Wendy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.87%. The ex-dividend date of this dividend is Monday, June 3rd. Wendy’s’s payout ratio is presently 101.01%.

Wendy’s Profile

(Free Report)

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.

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

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