The Wendy’s Company (NASDAQ:WEN) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC cut its stake in The Wendy’s Company (NASDAQ:WEN) by 15.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 847,516 shares of the restaurant operator’s stock after selling 154,316 shares during the period. Horizon Kinetics Asset Management LLC owned 0.42% of Wendy’s worth $14,848,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL bought a new position in Wendy’s in the 2nd quarter worth approximately $27,000. Quarry LP bought a new position in shares of Wendy’s in the second quarter worth $30,000. Bessemer Group Inc. increased its holdings in shares of Wendy’s by 483.2% during the first quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 1,551 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Wendy’s during the second quarter valued at about $33,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Wendy’s in the first quarter worth about $44,000. 85.96% of the stock is currently owned by institutional investors.

Wendy’s Stock Up 0.7 %

NASDAQ:WEN opened at $18.11 on Monday. The business’s fifty day moving average price is $18.59 and its 200 day moving average price is $17.61. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.50 and a beta of 0.79. 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 Wendy’s Company has a 1-year low of $15.61 and a 1-year high of $20.65.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings results on Thursday, October 31st. The restaurant operator reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $566.70 million during the quarter, compared to analysts’ expectations of $560.50 million. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. On average, sell-side analysts forecast that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date is Monday, December 2nd. Wendy’s’s dividend payout ratio (DPR) is presently 105.26%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Tigress Financial reaffirmed a “buy” rating and issued a $29.00 price target on shares of Wendy’s in a research note on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on Wendy’s from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Wedbush reissued a “neutral” rating and issued a $20.00 price objective on shares of Wendy’s in a research note on Friday, November 1st. Barclays cut their price objective on Wendy’s from $20.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Citigroup lifted their target price on Wendy’s from $18.00 to $18.75 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wendy’s presently has a consensus rating of “Hold” and an average target price of $20.36.

Wendy’s Company 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.