Retirement Systems of Alabama Buys 811 Shares of The Wendy’s Company (NASDAQ:WEN)

Retirement Systems of Alabama lifted its stake in shares of The Wendy’s Company (NASDAQ:WEN) by 0.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 712,078 shares of the restaurant operator’s stock after purchasing an additional 811 shares during the quarter. Retirement Systems of Alabama’s holdings in Wendy’s were worth $11,607,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Miracle Mile Advisors LLC bought a new stake in shares of Wendy’s during the fourth quarter valued at about $357,000. Assenagon Asset Management S.A. bought a new stake in Wendy’s during the 4th quarter worth approximately $13,358,000. Quantinno Capital Management LP lifted its stake in Wendy’s by 90.8% in the 3rd quarter. Quantinno Capital Management LP now owns 109,747 shares of the restaurant operator’s stock worth $1,923,000 after purchasing an additional 52,225 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Wendy’s in the 3rd quarter valued at $1,659,000. Finally, Merit Financial Group LLC purchased a new position in shares of Wendy’s during the 4th quarter valued at $464,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Wendy’s Trading Down 3.3 %

Shares of WEN stock opened at $14.43 on Friday. The business has a 50-day moving average of $15.89 and a 200 day moving average of $17.20. The company has a debt-to-equity ratio of 12.64, a current ratio of 2.10 and a quick ratio of 2.08. The Wendy’s Company has a 1-year low of $13.98 and a 1-year high of $20.65. The stock has a market capitalization of $2.94 billion, a PE ratio of 15.19, a P/E/G ratio of 2.25 and a beta of 0.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WEN shares. Truist Financial increased their price objective on Wendy’s from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group lowered their price target on Wendy’s from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Thursday. TD Cowen boosted their price objective on Wendy’s from $17.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Stifel Nicolaus lowered their target price on shares of Wendy’s from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Friday, January 10th. Finally, BMO Capital Markets boosted their price target on shares of Wendy’s from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.65.

Wendy’s Company 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.