Summit Trail Advisors LLC Takes $305,000 Position in The Wendy’s Company (NASDAQ:WEN)

Summit Trail Advisors LLC purchased a new position in shares of The Wendy’s Company (NASDAQ:WEN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,740 shares of the restaurant operator’s stock, valued at approximately $305,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. lifted its position in shares of Wendy’s by 159.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 6,440,880 shares of the restaurant operator’s stock worth $112,844,000 after buying an additional 3,959,480 shares in the last quarter. State Street Corp lifted its holdings in Wendy’s by 0.7% during the third quarter. State Street Corp now owns 5,187,593 shares of the restaurant operator’s stock worth $90,887,000 after acquiring an additional 37,801 shares during the period. Geode Capital Management LLC boosted its position in Wendy’s by 3.9% in the third quarter. Geode Capital Management LLC now owns 3,097,836 shares of the restaurant operator’s stock worth $54,287,000 after purchasing an additional 115,875 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Wendy’s in the 4th quarter valued at $13,358,000. Finally, Gradient Investments LLC increased its position in shares of Wendy’s by 11.6% during the 4th quarter. Gradient Investments LLC now owns 772,575 shares of the restaurant operator’s stock valued at $12,593,000 after purchasing an additional 80,055 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Wendy’s Price Performance

NASDAQ:WEN opened at $14.22 on Thursday. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 2.27 and a beta of 0.77. The company has a debt-to-equity ratio of 12.64, a quick ratio of 2.08 and a current ratio of 2.10. The stock has a fifty day moving average of $15.67 and a 200 day moving average of $17.15. The Wendy’s Company has a 52-week low of $13.98 and a 52-week high of $20.65.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WEN. Truist Financial increased their price target on shares of Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus decreased their price target on shares of Wendy’s from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Friday, January 10th. The Goldman Sachs Group dropped their price objective on Wendy’s from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Thursday, February 6th. BMO Capital Markets raised their target price on Wendy’s from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $14.00 price target (down previously from $22.00) on shares of Wendy’s in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.65.

Wendy’s Company Profile

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid’s meals.