86,902 Shares in The Wendy’s Company $WEN Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in The Wendy’s Company (NASDAQ:WEN) in the second quarter, HoldingsChannel.com reports. The fund purchased 86,902 shares of the restaurant operator’s stock, valued at approximately $720,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in Wendy’s during the second quarter worth about $27,000. Hilton Head Capital Partners LLC acquired a new position in shares of Wendy’s in the 4th quarter valued at approximately $30,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Wendy’s in the 1st quarter valued at approximately $30,000. Fifth Third Bancorp raised its position in shares of Wendy’s by 161.0% in the 4th quarter. Fifth Third Bancorp now owns 3,829 shares of the restaurant operator’s stock valued at $32,000 after buying an additional 2,362 shares in the last quarter. Finally, SJS Investment Consulting Inc. bought a new stake in shares of Wendy’s during the 1st quarter worth approximately $32,000. Institutional investors own 85.96% of the company’s stock.

Analysts Set New Price Targets

WEN has been the topic of several analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Wendy’s in a research report on Tuesday, August 11th. Morgan Stanley set a $5.50 price objective on shares of Wendy’s in a research report on Monday, August 10th. Argus raised Wendy’s from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, May 13th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Wendy’s in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $6.00 price target (down from $7.00) on shares of Wendy’s in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $7.78.

Wendy’s Stock Up 1.9%

WEN stock opened at $8.03 on Friday. The firm has a 50-day moving average price of $8.00 and a 200-day moving average price of $7.48. The Wendy’s Company has a 12 month low of $6.07 and a 12 month high of $10.45. The company has a current ratio of 1.90, a quick ratio of 1.88 and a debt-to-equity ratio of 27.95. The stock has a market capitalization of $1.53 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.81 and a beta of 0.39.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Friday, August 7th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $570.57 million for the quarter, compared to analyst estimates of $557.13 million. Wendy’s had a net margin of 5.72% and a return on equity of 115.31%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. As a group, equities research analysts anticipate that The Wendy’s Company will post 0.5 EPS for the current fiscal year.

Wendy’s Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.07 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.28 dividend on an annualized basis and a yield of 3.5%. Wendy’s’s dividend payout ratio (DPR) is currently 42.42%.

Wendy’s Company Profile

The Wendy’s Company (NASDAQ:WEN) operates as a global quick-service restaurant chain, best known for its square-shaped beef patties, fresh ingredient sourcing and signature Frosty dessert. The company’s menu features a variety of hamburgers, chicken sandwiches, salads, breakfast sandwiches, sides and beverages, designed to appeal to a broad customer base seeking both classic and contemporary fast-food options. Wendy’s has placed particular emphasis on product innovation, introducing limited-time offerings and revamped core menu items to maintain customer interest and respond to evolving dining trends.

Founded in 1969 by entrepreneur Dave Thomas in Columbus, Ohio, Wendy’s expanded rapidly through both company-owned and franchised outlets.