Royal Bank of Canada Has $1.75 Million Holdings in The Wendy’s Company $WEN

Royal Bank of Canada trimmed its position in The Wendy’s Company (NASDAQ:WEN) by 47.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 251,850 shares of the restaurant operator’s stock after selling 226,847 shares during the period. Royal Bank of Canada’s holdings in Wendy’s were worth $1,750,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in WEN. M&T Bank Corp lifted its position in shares of Wendy’s by 8.4% in the 2nd quarter. M&T Bank Corp now owns 16,987 shares of the restaurant operator’s stock valued at $194,000 after acquiring an additional 1,310 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Wendy’s by 1.5% during the 4th quarter. State of Alaska Department of Revenue now owns 91,885 shares of the restaurant operator’s stock valued at $765,000 after purchasing an additional 1,321 shares during the period. Brown Financial Advisors lifted its holdings in shares of Wendy’s by 4.7% in the second quarter. Brown Financial Advisors now owns 29,908 shares of the restaurant operator’s stock valued at $342,000 after purchasing an additional 1,339 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Wendy’s by 3.4% in the third quarter. Bank of Nova Scotia now owns 40,993 shares of the restaurant operator’s stock worth $375,000 after buying an additional 1,343 shares during the period. Finally, Barnett & Company Inc. boosted its position in shares of Wendy’s by 10.7% in the first quarter. Barnett & Company Inc. now owns 16,600 shares of the restaurant operator’s stock worth $115,000 after buying an additional 1,600 shares during the period. 85.96% of the stock is owned by hedge funds and other institutional investors.

Wendy’s Stock Down 2.1%

WEN stock opened at $8.44 on Wednesday. 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 Wendy’s Company has a 1 year low of $6.07 and a 1 year high of $10.84. The company has a fifty day simple moving average of $7.59 and a 200 day simple moving average of $7.41. The firm has a market cap of $1.61 billion, a PE ratio of 12.79, a PEG ratio of 0.69 and a beta of 0.37.

Wendy’s (NASDAQ:WEN) last posted its earnings results on Friday, August 7th. The restaurant operator reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Wendy’s had a net margin of 5.72% and a return on equity of 115.31%. The firm had revenue of $570.57 million for the quarter, compared to the consensus estimate of $557.13 million. During the same period in the prior year, the business posted $0.29 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that The Wendy’s Company will post 0.53 EPS for the current fiscal year.

Wendy’s Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.3%. Wendy’s’s dividend payout ratio is currently 84.85%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WEN shares. KeyCorp reiterated a “sector weight” rating on shares of Wendy’s in a report on Tuesday, August 11th. Stephens restated an “equal weight” rating and set a $8.00 price objective on shares of Wendy’s in a research report on Tuesday, June 23rd. Mizuho set a $6.00 target price on Wendy’s in a report on Friday, May 1st. Morgan Stanley set a $5.50 price target on shares of Wendy’s in a research report on Monday, August 10th. Finally, Wall Street Zen raised shares of Wendy’s from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. 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 company’s stock. According to MarketBeat, Wendy’s has an average rating of “Reduce” and an average price target of $7.76.

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.