Towerview LLC Sells 10,500 Shares of The Wendy’s Company (NASDAQ:WEN)

Towerview LLC decreased its holdings in The Wendy’s Company (NASDAQ:WEN) by 46.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,000 shares of the restaurant operator’s stock after selling 10,500 shares during the quarter. Wendy’s accounts for 0.1% of Towerview LLC’s investment portfolio, making the stock its 21st biggest holding. Towerview LLC’s holdings in Wendy’s were worth $196,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Wendy’s by 670.3% in the 4th 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 increased its stake in Wendy’s by 168.1% in the 4th 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 purchased a new stake in Wendy’s in the 3rd quarter valued at about $49,000. Bartlett & CO. Wealth Management LLC increased its stake in Wendy’s by 46.4% in the 4th 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, Transcendent Capital Group LLC increased its stake in Wendy’s by 2,334.5% in the 4th quarter. Transcendent Capital Group LLC now owns 4,869 shares of the restaurant operator’s stock valued at $79,000 after buying an additional 4,669 shares during the last quarter. Institutional investors own 85.96% of the company’s stock.

Wall Street Analyst Weigh In

WEN has been the subject of several research analyst reports. Barclays decreased their price target on shares of Wendy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Stifel Nicolaus decreased their price target on shares of Wendy’s from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Stephens restated an “equal weight” rating and set a $15.00 price target on shares of Wendy’s in a research note on Thursday, February 13th. UBS Group decreased their price target on shares of Wendy’s from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Truist Financial decreased their price target on shares of Wendy’s from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.42.

Wendy’s Stock Performance

NASDAQ WEN opened at $15.60 on Friday. The company has a market capitalization of $3.18 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.00 and a beta of 0.77. The company has a fifty day moving average of $15.23 and a 200-day moving average of $17.01. The Wendy’s Company has a 52-week low of $13.72 and a 52-week high of $20.65. The company has a debt-to-equity ratio of 12.48, a quick ratio of 1.83 and a current ratio of 1.85.

Wendy’s (NASDAQ:WEN) last issued its 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. The company had revenue of $574.27 million for the quarter, compared to analysts’ expectations of $564.17 million. Wendy’s had a net margin of 8.65% and a return on equity of 75.56%. As a group, equities research analysts predict that The Wendy’s Company will post 0.99 EPS for the current fiscal year.

Wendy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date is Monday, March 3rd. Wendy’s’s payout ratio is presently 105.26%.

About Wendy’s

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.