KLP Kapitalforvaltning AS Makes New $1.56 Million Investment in The Wendy’s Company (NASDAQ:WEN)

KLP Kapitalforvaltning AS bought a new stake in The Wendy’s Company (NASDAQ:WEN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 95,700 shares of the restaurant operator’s stock, valued at approximately $1,560,000.

Several other institutional investors and hedge funds have also modified their holdings of WEN. Natixis Advisors LLC bought a new stake in shares of Wendy’s during the third quarter worth $258,000. Thrivent Financial for Lutherans grew its holdings in Wendy’s by 3.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 56,603 shares of the restaurant operator’s stock worth $992,000 after acquiring an additional 1,794 shares during the last quarter. Citigroup Inc. raised its stake in shares of Wendy’s by 1,653.5% in the third quarter. Citigroup Inc. now owns 376,978 shares of the restaurant operator’s stock worth $6,605,000 after acquiring an additional 355,480 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Wendy’s by 202.6% in the third quarter. Cerity Partners LLC now owns 253,036 shares of the restaurant operator’s stock worth $4,433,000 after acquiring an additional 169,407 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Wendy’s during the third quarter worth approximately $1,659,000. 85.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on WEN shares. Truist Financial reduced their price objective on Wendy’s from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Morgan Stanley reiterated an “underweight” rating and issued a $14.00 price objective (down from $22.00) on shares of Wendy’s in a research report on Tuesday, January 21st. Argus raised shares of Wendy’s to a “strong-buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price target (down from $20.00) on shares of Wendy’s in a research note on Wednesday, February 26th. Finally, Barclays lifted their target price 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. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wendy’s currently has an average rating of “Hold” and a consensus price target of $18.08.

Wendy’s Trading Down 2.5 %

WEN opened at $14.63 on Friday. The firm’s fifty day simple moving average is $14.97 and its 200 day simple moving average is $16.76. The stock has a market capitalization of $2.93 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.00 and a beta of 0.73. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48. The Wendy’s Company has a 12 month low of $13.72 and a 12 month high of $20.65.

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

Wendy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend was Monday, March 3rd. Wendy’s’s payout ratio is 105.26%.

Wendy’s Profile

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy’s U.S., Wendy’s International, and Global Real Estate and Development. The Wendy’s U.S. segment includes the operation and franchising of Wendy’s restaurants in the U.S.