Wendys Co (WEN) Stake Lessened by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. lessened its stake in shares of Wendys Co (NASDAQ:WEN) by 72.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,400 shares of the restaurant operator’s stock after selling 75,451 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Wendys were worth $441,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in WEN. WFG Advisors LP lifted its position in shares of Wendys by 50.2% during the 2nd quarter. WFG Advisors LP now owns 7,017 shares of the restaurant operator’s stock valued at $109,000 after acquiring an additional 2,344 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Wendys by 10.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,495 shares of the restaurant operator’s stock valued at $116,000 after acquiring an additional 692 shares during the period. Riverhead Capital Management LLC lifted its position in shares of Wendys by 75.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 9,312 shares of the restaurant operator’s stock valued at $144,000 after acquiring an additional 4,012 shares during the period. Sigma Planning Corp lifted its position in shares of Wendys by 0.5% during the 2nd quarter. Sigma Planning Corp now owns 11,222 shares of the restaurant operator’s stock valued at $174,000 after acquiring an additional 51 shares during the period. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Wendys during the 2nd quarter valued at $219,000. Institutional investors own 76.42% of the company’s stock.
A number of analysts have commented on WEN shares. Morgan Stanley boosted their price target on shares of Wendys from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, November 9th. Longbow Research upgraded shares of Wendys from a “neutral” rating to a “buy” rating and boosted their price target for the company from $15.23 to $18.00 in a research note on Friday, September 15th. Nomura decreased their price target on shares of Wendys from $15.00 to $14.50 and set a “neutral” rating for the company in a research note on Thursday, November 9th. Zacks Investment Research lowered shares of Wendys from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Finally, TheStreet lowered shares of Wendys from a “b-” rating to a “c+” rating in a research note on Wednesday, November 8th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.21.
Shares of Wendys Co (WEN) opened at $15.07 on Thursday. Wendys Co has a one year low of $13.03 and a one year high of $16.66. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 5.83. The stock has a market cap of $3,722.56, a price-to-earnings ratio of 37.49, a PEG ratio of 2.71 and a beta of 0.93.
Wendys (NASDAQ:WEN) last posted its earnings results on Wednesday, November 8th. The restaurant operator reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). Wendys had a return on equity of 20.35% and a net margin of 5.20%. The firm had revenue of $308.00 million during the quarter. During the same period last year, the firm posted $0.11 EPS. Wendys’s quarterly revenue was down 15.4% on a year-over-year basis. research analysts expect that Wendys Co will post 0.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.07 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.86%. Wendys’s payout ratio is 112.00%.
In related news, insider E.J. Wunsch sold 3,548 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $15.43, for a total transaction of $54,745.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott A. Weisberg purchased 10,000 shares of Wendys stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average price of $14.29 per share, with a total value of $142,900.00. Following the transaction, the insider now owns 199,014 shares of the company’s stock, valued at approximately $2,843,910.06. The disclosure for this purchase can be found here. Corporate insiders own 26.50% of the company’s stock.
The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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