Point72 Asset Management L.P. Has $112.84 Million Position in The Wendy’s Company (NASDAQ:WEN)

Point72 Asset Management L.P. lifted its stake in The Wendy’s Company (NASDAQ:WEN) by 159.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,440,880 shares of the restaurant operator’s stock after acquiring an additional 3,959,480 shares during the quarter. Point72 Asset Management L.P. owned approximately 3.16% of Wendy’s worth $112,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of WEN. AQR Capital Management LLC increased its stake in shares of Wendy’s by 76.8% during the 2nd quarter. AQR Capital Management LLC now owns 6,813,786 shares of the restaurant operator’s stock worth $115,562,000 after purchasing an additional 2,960,526 shares during the last quarter. Squarepoint Ops LLC increased its position in Wendy’s by 113.6% during the second quarter. Squarepoint Ops LLC now owns 3,491,376 shares of the restaurant operator’s stock worth $59,214,000 after buying an additional 1,856,970 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Wendy’s during the second quarter valued at about $17,094,000. Bank of Montreal Can lifted its position in shares of Wendy’s by 619.4% in the second quarter. Bank of Montreal Can now owns 866,878 shares of the restaurant operator’s stock worth $14,711,000 after buying an additional 746,376 shares during the last quarter. Finally, Davidson Kempner Capital Management LP acquired a new stake in shares of Wendy’s in the second quarter worth about $11,018,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WEN has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price objective on Wendy’s from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Wedbush reissued a “neutral” rating and issued a $20.00 price target on shares of Wendy’s in a research report on Friday, November 1st. Citigroup boosted their price objective on shares of Wendy’s from $18.00 to $18.75 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Tigress Financial reiterated a “buy” rating and issued a $29.00 target price on shares of Wendy’s in a research note on Wednesday, September 4th. Finally, Wolfe Research upgraded Wendy’s to a “strong-buy” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.36.

Wendy’s Trading Down 1.2 %

WEN opened at $17.85 on Wednesday. The Wendy’s Company has a 1-year low of $15.61 and a 1-year high of $20.65. The stock has a market capitalization of $3.64 billion, a PE ratio of 18.79, a PEG ratio of 2.52 and a beta of 0.77. 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 firm has a 50-day moving average price of $18.69 and a two-hundred day moving average price of $17.59.

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

Wendy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.60%. Wendy’s’s payout ratio is 105.26%.

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.