Royal Bank of Canada Has $39.11 Million Holdings in The Wendy's Company (NASDAQ:WEN)

Royal Bank of Canada cut its position in The Wendy's Company (NASDAQ:WEN - Free Report) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,399,675 shares of the restaurant operator's stock after selling 201,853 shares during the quarter. Royal Bank of Canada owned approximately 1.18% of Wendy's worth $39,114,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Wendy's in the 4th quarter valued at $1,733,000. Norges Bank acquired a new stake in Wendy's in the 4th quarter worth $4,318,000. Raymond James Financial Inc. acquired a new stake in Wendy's in the 4th quarter worth $824,000. Fox Run Management L.L.C. acquired a new stake in Wendy's in the 4th quarter worth $1,921,000. Finally, Merit Financial Group LLC acquired a new stake in Wendy's in the 4th quarter worth $464,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Wendy's news, insider Abigail E. Pringle sold 136,819 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $12.81, for a total value of $1,752,651.39. Following the completion of the transaction, the insider now directly owns 203,005 shares of the company's stock, valued at approximately $2,600,494.05. The trade was a 40.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.00% of the company's stock.

Analysts Set New Price Targets

WEN has been the topic of several research analyst reports. Stephens restated an "equal weight" rating and issued a $14.00 price target on shares of Wendy's in a research report on Friday, May 2nd. Truist Financial decreased their price target on shares of Wendy's from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Citigroup raised their price target on shares of Wendy's from $15.50 to $16.50 and gave the stock a "neutral" rating in a research report on Friday, March 7th. UBS Group decreased their price target on shares of Wendy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Wedbush restated a "neutral" rating and issued a $16.00 price target on shares of Wendy's in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.34.

Wendy's Trading Down 1.0%

Shares of WEN stock opened at $11.50 on Friday. The Wendy's Company has a 12-month low of $11.39 and a 12-month high of $20.60. The company has a market capitalization of $2.21 billion, a P/E ratio of 12.11, a P/E/G ratio of 2.00 and a beta of 0.40. The firm has a 50-day moving average price of $13.12 and a 200 day moving average price of $15.16. The company has a quick ratio of 1.83, a current ratio of 1.85 and a debt-to-equity ratio of 12.48.

Wendy's (NASDAQ:WEN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. Wendy's had a net margin of 8.65% and a return on equity of 75.56%. The firm had revenue of $523.47 million during the quarter, compared to the consensus estimate of $530.11 million. During the same period last year, the firm posted $0.23 EPS. The firm's quarterly revenue was down 2.1% on a year-over-year basis. Research analysts forecast that The Wendy's Company will post 0.99 earnings per share for the current fiscal year.

Wendy's Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend is Monday, June 2nd. Wendy's's dividend payout ratio is presently 59.57%.

Wendy's Profile

The Wendy's Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy's U.S., Wendy's International, and Global Real Estate and Development. The Wendy's U.S. segment includes the operation and franchising of Wendy's restaurants in the U.S.

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