Goldman Sachs Group Inc. Decreases Position in Wendys Co (NASDAQ:WEN)

Goldman Sachs Group Inc. decreased its stake in Wendys Co (NASDAQ:WEN) by 59.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,026,919 shares of the restaurant operator’s stock after selling 3,032,201 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Wendys were worth $45,018,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WEN. Massachusetts Financial Services Co. MA boosted its holdings in Wendys by 13.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,297,923 shares of the restaurant operator’s stock valued at $73,247,000 after purchasing an additional 388,858 shares during the last quarter. BTG Pactual Global Asset Management Ltd purchased a new position in Wendys in the fourth quarter valued at about $3,782,000. Carnegie Capital Asset Management LLC purchased a new position in Wendys in the fourth quarter valued at about $216,000. Amalgamated Bank boosted its holdings in Wendys by 7.0% in the fourth quarter. Amalgamated Bank now owns 51,442 shares of the restaurant operator’s stock valued at $1,143,000 after purchasing an additional 3,386 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Wendys by 100.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,232 shares of the restaurant operator’s stock valued at $605,000 after purchasing an additional 13,675 shares during the last quarter. 73.29% of the stock is owned by institutional investors.

Shares of Wendys stock opened at $14.42 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 7.04. The business’s 50 day simple moving average is $19.01 and its 200-day simple moving average is $20.70. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.45 and a beta of 0.84. Wendys Co has a twelve month low of $6.82 and a twelve month high of $24.04.

Wendys (NASDAQ:WEN) last announced its quarterly earnings results on Wednesday, February 26th. The restaurant operator reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The company had revenue of $427.20 million for the quarter, compared to analyst estimates of $423.70 million. Wendys had a return on equity of 22.61% and a net margin of 8.01%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. Sell-side analysts predict that Wendys Co will post 0.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, February 28th. Wendys’s payout ratio is 81.36%.

WEN has been the subject of a number of analyst reports. Northcoast Research initiated coverage on Wendys in a report on Tuesday, February 25th. They issued a “buy” rating and a $29.00 price target for the company. Wedbush reissued a “hold” rating and issued a $22.00 price target on shares of Wendys in a report on Thursday, February 27th. Telsey Advisory Group increased their price target on Wendys from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. MKM Partners upped their price objective on Wendys from to in a research note on Thursday, February 27th. Finally, Longbow Research restated a “buy” rating and set a $25.00 price objective on shares of Wendys in a research note on Friday, December 13th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $23.02.

Wendys Profile

The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.

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Institutional Ownership by Quarter for Wendys (NASDAQ:WEN)

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