Comerica Bank Cuts Stake in Wendy’s Company (The) (WEN)

Comerica Bank decreased its stake in shares of Wendy’s Company (The) (NASDAQ:WEN) by 51.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,244 shares of the restaurant operator’s stock after selling 129,382 shares during the period. Comerica Bank’s holdings in Wendy’s Company (The) were worth $1,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WEN. BlackRock Inc. boosted its stake in shares of Wendy’s Company (The) by 11,068.4% during the 1st quarter. BlackRock Inc. now owns 15,391,009 shares of the restaurant operator’s stock valued at $209,472,000 after purchasing an additional 15,253,200 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Wendy’s Company (The) by 81.5% during the 1st quarter. Victory Capital Management Inc. now owns 7,825,768 shares of the restaurant operator’s stock valued at $106,509,000 after purchasing an additional 3,512,866 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Wendy’s Company (The) during the 2nd quarter valued at about $11,560,000. Goldman Sachs Group Inc. boosted its stake in shares of Wendy’s Company (The) by 49.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,887,840 shares of the restaurant operator’s stock valued at $25,694,000 after purchasing an additional 622,019 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Wendy’s Company (The) by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 15,666,000 shares of the restaurant operator’s stock valued at $213,214,000 after purchasing an additional 592,868 shares in the last quarter. 76.46% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on WEN. Sanford C. Bernstein reissued a “market perform” rating and set a $16.00 price target on shares of Wendy’s Company (The) in a research report on Tuesday, July 25th. UBS AG reissued a “sell” rating and set a $13.00 price target (up from $12.00) on shares of Wendy’s Company (The) in a research report on Thursday, August 10th. BidaskClub cut shares of Wendy’s Company (The) from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Royal Bank Of Canada reissued a “hold” rating and set a $16.00 price target on shares of Wendy’s Company (The) in a research report on Thursday, June 22nd. Finally, Vetr cut shares of Wendy’s Company (The) from a “buy” rating to a “hold” rating and set a $16.92 price target for the company. in a research report on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $15.64.

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Wendy’s Company (NASDAQ:WEN) opened at 14.37 on Monday. The stock has a market capitalization of $3.50 billion, a PE ratio of 37.32 and a beta of 1.00. The firm has a 50-day moving average of $15.22 and a 200 day moving average of $14.87. Wendy’s Company has a one year low of $10.09 and a one year high of $16.66.

Wendy’s Company (The) (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Wendy’s Company (The) had a net margin of 7.68% and a return on equity of 19.67%. The business had revenue of $320.34 million for the quarter. During the same quarter in the prior year, the business posted $0.10 earnings per share. The firm’s quarterly revenue was down 16.3% on a year-over-year basis. On average, equities research analysts anticipate that Wendy’s Company will post $0.47 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Wednesday, August 30th. Wendy’s Company (The)’s dividend payout ratio is currently 75.68%.

Wendy’s Company (The) Company Profile

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.

Institutional Ownership by Quarter for Wendy`s Company (The) (NASDAQ:WEN)

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