Schwab Charles Investment Management Inc. Raises Stake in Wendys Co (NASDAQ:WEN)

Schwab Charles Investment Management Inc. grew its holdings in Wendys Co (NASDAQ:WEN) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 695,775 shares of the restaurant operator’s stock after buying an additional 19,370 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.29% of Wendys worth $10,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Engineers Gate Manager LP raised its position in shares of Wendys by 24.0% in the 2nd quarter. Engineers Gate Manager LP now owns 309,979 shares of the restaurant operator’s stock worth $4,808,000 after acquiring an additional 60,061 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Wendys by 4.3% in the 3rd quarter. Wells Fargo & Company MN now owns 7,960,038 shares of the restaurant operator’s stock worth $123,620,000 after acquiring an additional 329,659 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Wendys by 3.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 626,854 shares of the restaurant operator’s stock worth $9,723,000 after acquiring an additional 20,402 shares in the last quarter. Cipher Capital LP raised its position in shares of Wendys by 22.3% in the 3rd quarter. Cipher Capital LP now owns 59,220 shares of the restaurant operator’s stock worth $919,000 after acquiring an additional 10,806 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Wendys by 0.3% in the 2nd quarter. BlackRock Inc. now owns 15,432,711 shares of the restaurant operator’s stock worth $239,362,000 after acquiring an additional 41,702 shares in the last quarter. Institutional investors and hedge funds own 76.33% of the company’s stock.

Wendys Co (WEN) opened at $17.25 on Friday. The stock has a market capitalization of $4,180.00, a price-to-earnings ratio of 69.00, a PEG ratio of 2.24 and a beta of 0.93. Wendys Co has a 52 week low of $13.03 and a 52 week high of $17.66. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 5.83.

Wendys (NASDAQ:WEN) last released its earnings results on Wednesday, November 8th. The restaurant operator reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). The company had revenue of $308.00 million for the quarter. Wendys had a net margin of 5.20% and a return on equity of 20.35%. The business’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. research analysts predict that Wendys Co will post 0.44 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.28 annualized dividend and a yield of 1.62%. Wendys’s dividend payout ratio (DPR) is presently 112.00%.

Several research analysts have recently issued reports on WEN shares. Morgan Stanley increased their target price on Wendys from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, November 9th. Nomura reduced their price objective on Wendys from $15.00 to $14.50 and set a “neutral” rating for the company in a research report on Thursday, November 9th. Longbow Research raised Wendys from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.23 to $18.00 in a research report on Friday, September 15th. Zacks Investment Research lowered Wendys from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, TheStreet lowered Wendys from a “b-” rating to a “c+” rating in a research report on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $16.84.

In related news, insider Scott A. Weisberg bought 10,000 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average cost of $14.29 per share, for a total transaction of $142,900.00. Following the completion of the transaction, the insider now owns 199,014 shares of the company’s stock, valued at $2,843,910.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.50% of the stock is currently owned by insiders.

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Wendys 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 Wendys (NASDAQ:WEN)

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