Maverick Capital Ltd. Has $1.56 Million Stock Position in The Wendy’s Company (NASDAQ:WEN)

Maverick Capital Ltd. lowered its position in The Wendy’s Company (NASDAQ:WEN) by 49.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,064 shares of the restaurant operator’s stock after selling 87,080 shares during the quarter. Maverick Capital Ltd.’s holdings in Wendy’s were worth $1,560,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of WEN. Edgestream Partners L.P. bought a new stake in shares of Wendy’s in the 3rd quarter valued at approximately $438,000. Captrust Financial Advisors lifted its stake in Wendy’s by 42.5% in the third quarter. Captrust Financial Advisors now owns 139,425 shares of the restaurant operator’s stock valued at $2,443,000 after acquiring an additional 41,616 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Wendy’s by 2.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 555,980 shares of the restaurant operator’s stock worth $9,741,000 after acquiring an additional 14,889 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Wendy’s during the 3rd quarter worth $465,000. Finally, MetLife Investment Management LLC increased its stake in shares of Wendy’s by 0.6% during the 3rd quarter. MetLife Investment Management LLC now owns 92,132 shares of the restaurant operator’s stock worth $1,614,000 after purchasing an additional 590 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Wendy’s Price Performance

Wendy’s stock opened at $18.36 on Friday. The firm has a market capitalization of $3.74 billion, a P/E ratio of 19.33, a PEG ratio of 2.58 and a beta of 0.79. The business has a 50-day moving average of $18.67 and a 200-day moving average of $17.61. The company has a current ratio of 2.10, a quick ratio of 2.08 and a debt-to-equity ratio of 12.64. The Wendy’s Company has a 1 year low of $15.61 and a 1 year high of $20.65.

Wendy’s (NASDAQ:WEN) last issued its earnings results on Thursday, October 31st. The restaurant operator reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The firm had revenue of $566.70 million during the quarter, compared to the consensus estimate of $560.50 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that The Wendy’s Company will post 0.99 EPS for the current year.

Wendy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 5.45%. Wendy’s’s dividend payout ratio (DPR) is currently 105.26%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WEN. JPMorgan Chase & Co. upped their price objective on shares of Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Truist Financial upped their price target on Wendy’s from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Tigress Financial reissued a “buy” rating and set a $29.00 price objective on shares of Wendy’s in a report on Wednesday, September 4th. Wedbush restated a “neutral” rating and issued a $20.00 target price on shares of Wendy’s in a report on Friday, November 1st. Finally, Citigroup increased their price target on Wendy’s from $18.00 to $18.75 and gave the company a “neutral” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wendy’s has a consensus rating of “Hold” and a consensus target price of $20.36.

Wendy’s Profile

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.