Frank Rimerman Advisors LLC Boosts Stock Position in The Wendy’s Company (NASDAQ:WEN)

Frank Rimerman Advisors LLC lifted its position in shares of The Wendy’s Company (NASDAQ:WEN) by 258.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,907 shares of the restaurant operator’s stock after purchasing an additional 33,819 shares during the period. Frank Rimerman Advisors LLC’s holdings in Wendy’s were worth $765,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. boosted its holdings in shares of Wendy’s by 159.6% during the third quarter. Point72 Asset Management L.P. now owns 6,440,880 shares of the restaurant operator’s stock worth $112,844,000 after purchasing an additional 3,959,480 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Wendy’s by 7.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,303,279 shares of the restaurant operator’s stock worth $102,743,000 after purchasing an additional 458,106 shares during the period. State Street Corp lifted its holdings in Wendy’s by 0.7% in the third quarter. State Street Corp now owns 5,187,593 shares of the restaurant operator’s stock worth $90,887,000 after buying an additional 37,801 shares during the period. Geode Capital Management LLC lifted its holdings in Wendy’s by 3.9% in the third quarter. Geode Capital Management LLC now owns 3,097,836 shares of the restaurant operator’s stock worth $54,287,000 after buying an additional 115,875 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Wendy’s by 93.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,591,281 shares of the restaurant operator’s stock worth $25,938,000 after buying an additional 766,910 shares during the period. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wendy’s Price Performance

Shares of WEN opened at $15.35 on Friday. The company has a market capitalization of $3.08 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 2.00 and a beta of 0.73. The company has a quick ratio of 1.83, a current ratio of 1.85 and a debt-to-equity ratio of 12.48. The firm has a 50 day moving average of $14.98 and a 200 day moving average of $16.88. The Wendy’s Company has a twelve month low of $13.72 and a twelve month high of $20.65.

Wendy’s (NASDAQ:WEN) last issued its earnings results on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Wendy’s had a net margin of 8.65% and a return on equity of 75.56%. The company had revenue of $574.27 million for the quarter, compared to analysts’ expectations of $564.17 million. As a group, equities research analysts anticipate that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.51%. The ex-dividend date is Monday, March 3rd. Wendy’s’s dividend payout ratio is currently 105.26%.

Analyst Upgrades and Downgrades

WEN has been the subject of several research analyst reports. Stifel Nicolaus lowered their price objective on shares of Wendy’s from $17.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. UBS Group raised their price objective on shares of Wendy’s from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, March 7th. TD Securities restated a “hold” rating and issued a $16.00 price objective on shares of Wendy’s in a report on Friday, March 7th. Barclays raised their price objective on shares of Wendy’s from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, March 7th. Finally, Truist Financial lowered their price objective on shares of Wendy’s from $22.00 to $19.00 and set a “buy” rating for the company in a report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Wendy’s currently has a consensus rating of “Hold” and an average price target of $18.08.

About Wendy’s

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.