ING Groep NV Takes $1.03 Million Position in The Wendy’s Company (NASDAQ:WEN)

ING Groep NV acquired a new position in The Wendy’s Company (NASDAQ:WEN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 59,000 shares of the restaurant operator’s stock, valued at approximately $1,034,000.

Several other large investors have also made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wendy’s during the second quarter worth approximately $27,000. Quarry LP bought a new position in Wendy’s during the second quarter worth $30,000. Bessemer Group Inc. raised its stake in Wendy’s by 483.2% during the 1st quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 1,551 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Wendy’s in the 2nd quarter valued at $33,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Wendy’s in the 1st quarter worth $44,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wendy’s Trading Down 1.9 %

WEN opened at $18.12 on Monday. The Wendy’s Company has a 1-year low of $15.61 and a 1-year high of $20.65. The stock has a market capitalization of $3.69 billion, a PE ratio of 19.07, a PEG ratio of 2.52 and a beta of 0.79. The company has a current ratio of 2.10, a quick ratio of 2.08 and a debt-to-equity ratio of 12.64. The firm has a 50-day moving average price of $18.49 and a two-hundred day moving average price of $17.66.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings results on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The business had revenue of $566.70 million during the quarter, compared to analyst estimates of $560.50 million. During the same quarter last year, the business posted $0.27 earnings per share. Wendy’s’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.52%. Wendy’s’s payout ratio is 105.26%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WEN. Truist Financial increased their target price on shares of Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on Wendy’s from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Tigress Financial reaffirmed a “buy” rating and issued a $29.00 target price on shares of Wendy’s in a research report on Wednesday, September 4th. Stephens reissued an “equal weight” rating and issued a $19.00 price target on shares of Wendy’s in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wendy’s from $20.00 to $18.00 and set a “hold” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.36.

Wendy’s Profile

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.