State Board of Administration of Florida Retirement System Sells 21,228 Shares of The Wendy’s Company (NASDAQ:WEN)

State Board of Administration of Florida Retirement System lowered its stake in shares of The Wendy’s Company (NASDAQ:WEN) by 6.9% in the third quarter, Holdings Channel reports. The firm owned 288,028 shares of the restaurant operator’s stock after selling 21,228 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Wendy’s were worth $6,244,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its position in Wendy’s by 215.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,471 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 1,004 shares during the period. Lazard Asset Management LLC bought a new stake in Wendy’s during the second quarter worth approximately $41,000. Ellevest Inc. boosted its position in Wendy’s by 507.2% during the third quarter. Ellevest Inc. now owns 2,107 shares of the restaurant operator’s stock worth $46,000 after purchasing an additional 1,760 shares during the period. First National Bank of South Miami bought a new stake in Wendy’s during the third quarter worth approximately $52,000. Finally, Advisory Services Network LLC acquired a new position in shares of Wendy’s during the second quarter worth approximately $68,000. 70.39% of the stock is owned by hedge funds and other institutional investors.

Wendy’s stock opened at $23.32 on Friday. The company has a debt-to-equity ratio of 5.32, a current ratio of 2.07 and a quick ratio of 2.06. The stock has a fifty day moving average price of $22.55 and a two-hundred day moving average price of $22.63. The Wendy’s Company has a 52-week low of $18.86 and a 52-week high of $29.46. The firm has a market capitalization of $5.15 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.79 and a beta of 0.96.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings data on Wednesday, November 10th. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Wendy’s had a return on equity of 34.33% and a net margin of 9.85%. The firm had revenue of $470.26 million during the quarter, compared to analyst estimates of $471.05 million. During the same period in the prior year, the company posted $0.19 earnings per share. On average, equities research analysts predict that The Wendy’s Company will post 0.81 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, November 30th. Wendy’s’s payout ratio is presently 58.54%.

A number of brokerages have recently commented on WEN. Argus lowered Wendy’s from a “buy” rating to a “hold” rating in a report on Tuesday, November 16th. Bank of America began coverage on Wendy’s in a report on Tuesday. They set an “underperform” rating for the company. Stephens upped their price target on Wendy’s from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, January 5th. Loop Capital began coverage on Wendy’s in a report on Tuesday, October 5th. They set a “buy” rating and a $31.00 price target for the company. Finally, Royal Bank of Canada cut their price target on Wendy’s from $26.00 to $24.00 and set a “sector perform” rating for the company in a report on Thursday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $27.47.

Wendy’s Profile

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid’s meals.

Featured Article: Cyclical Stocks – What You Should Know

Want to see what other hedge funds are holding WEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Wendy’s Company (NASDAQ:WEN).

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

Receive News & Ratings for Wendy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wendy's and related companies with MarketBeat.com's FREE daily email newsletter.