Allegiance Financial Group Advisory Services LLC Makes New $191,000 Investment in The Wendy’s Company (NASDAQ:WEN)

Allegiance Financial Group Advisory Services LLC acquired a new stake in shares of The Wendy’s Company (NASDAQ:WEN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,745 shares of the restaurant operator’s stock, valued at approximately $191,000.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Wendy’s by 670.3% during the fourth quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 1,220 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Wendy’s by 168.1% during the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 1,400 shares during the last quarter. AM Squared Ltd acquired a new position in shares of Wendy’s during the third quarter valued at about $49,000. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Wendy’s by 46.4% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 3,107 shares of the restaurant operator’s stock valued at $51,000 after buying an additional 985 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Wendy’s by 39.6% during the third quarter. Signaturefd LLC now owns 3,690 shares of the restaurant operator’s stock valued at $65,000 after buying an additional 1,046 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wendy’s Price Performance

Shares of NASDAQ:WEN opened at $15.50 on Thursday. The company has a 50 day moving average of $15.25 and a 200 day moving average of $17.02. The stock has a market cap of $3.16 billion, a P/E ratio of 16.32, a P/E/G ratio of 2.00 and a beta of 0.77. The Wendy’s Company has a 12 month low of $13.72 and a 12 month high of $20.65. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Thursday, February 13th. The restaurant operator reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Wendy’s had a net margin of 8.65% and a return on equity of 75.56%. The business had revenue of $574.27 million during the quarter, compared to analysts’ expectations of $564.17 million. As a group, sell-side analysts forecast that The Wendy’s Company will post 0.99 EPS for the current fiscal year.

Wendy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 6.45%. Wendy’s’s dividend payout ratio is presently 105.26%.

Analysts Set New Price Targets

A number of research firms recently weighed in on WEN. Truist Financial dropped their price target on shares of Wendy’s from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Stephens reissued an “equal weight” rating and set a $15.00 price target on shares of Wendy’s in a research report on Thursday, February 13th. Barclays dropped their price target on shares of Wendy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Morgan Stanley reissued an “underweight” rating and set a $14.00 price target (down from $22.00) on shares of Wendy’s in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group lowered their price objective on shares of Wendy’s from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.42.

Wendy’s 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.