Gideon Capital Advisors Inc. Takes Position in Wendys Co (WEN)
Gideon Capital Advisors Inc. purchased a new position in shares of Wendys Co (NASDAQ:WEN) during the second quarter, HoldingsChannel reports. The firm purchased 28,540 shares of the restaurant operator’s stock, valued at approximately $490,000.
A number of other hedge funds have also modified their holdings of the business. Greenleaf Trust acquired a new position in shares of Wendys during the second quarter valued at approximately $8,620,000. BlackRock Inc. raised its holdings in shares of Wendys by 1.9% during the first quarter. BlackRock Inc. now owns 14,956,802 shares of the restaurant operator’s stock valued at $262,492,000 after acquiring an additional 274,386 shares during the last quarter. Bbva Compass Bancshares Inc. acquired a new position in shares of Wendys during the first quarter valued at approximately $194,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Wendys by 3.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 760,598 shares of the restaurant operator’s stock valued at $13,349,000 after acquiring an additional 24,466 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Wendys during the second quarter valued at approximately $523,000. Institutional investors own 80.75% of the company’s stock.
NASDAQ:WEN opened at $18.42 on Friday. Wendys Co has a one year low of $13.57 and a one year high of $18.62. The company has a quick ratio of 1.70, a current ratio of 1.71 and a debt-to-equity ratio of 6.44. The company has a market capitalization of $4.18 billion, a P/E ratio of 42.84, a P/E/G ratio of 1.55 and a beta of 0.54.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be issued a $0.085 dividend. The ex-dividend date is Friday, August 31st. This represents a $0.34 annualized dividend and a dividend yield of 1.85%. Wendys’s dividend payout ratio is presently 79.07%.
WEN has been the subject of a number of research analyst reports. Argus reduced their target price on Wendys from $19.00 to $16.34 and set a “buy” rating for the company in a report on Thursday, May 17th. Zacks Investment Research raised Wendys from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Sunday, July 15th. BidaskClub raised Wendys from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. Citigroup increased their target price on Wendys from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, June 19th. Finally, Mizuho set a $21.00 target price on Wendys and gave the company a “buy” rating in a report on Thursday. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $18.74.
The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.
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