Retirement Systems of Alabama Purchases 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% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 712,078 shares of the restaurant operator’s stock after buying an additional 811 shares during the quarter. Retirement Systems of Alabama owned about 0.35% of Wendy’s worth $11,607,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. grew its position in Wendy’s by 159.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 6,440,880 shares of the restaurant operator’s stock valued at $112,844,000 after purchasing an additional 3,959,480 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Wendy’s during the fourth quarter worth about $13,358,000. Citigroup Inc. raised its holdings in shares of Wendy’s by 1,653.5% in the 3rd quarter. Citigroup Inc. now owns 376,978 shares of the restaurant operator’s stock worth $6,605,000 after acquiring an additional 355,480 shares during the last quarter. Cerity Partners LLC lifted its position in Wendy’s by 202.6% in the 3rd quarter. Cerity Partners LLC now owns 253,036 shares of the restaurant operator’s stock valued at $4,433,000 after acquiring an additional 169,407 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Wendy’s by 187.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 208,880 shares of the restaurant operator’s stock valued at $3,660,000 after purchasing an additional 136,112 shares during the last quarter. 85.96% of the stock is owned by institutional investors.

Wendy’s Stock Down 3.3 %

WEN stock opened at $14.43 on Friday. The Wendy’s Company has a fifty-two week low of $13.98 and a fifty-two week high of $20.65. The stock has a fifty day moving average of $15.89 and a 200-day moving average of $17.20. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 2.25 and a beta of 0.77. The company has a debt-to-equity ratio of 12.64, a quick ratio of 2.08 and a current ratio of 2.10.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley reissued an “underweight” rating and issued a $14.00 price objective (down from $22.00) on shares of Wendy’s in a research note on Tuesday, January 21st. TD Cowen increased their price target on Wendy’s from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their price objective on shares of Wendy’s from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. The Goldman Sachs Group reduced their target price on shares of Wendy’s from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Thursday. Finally, Stephens reissued an “equal weight” rating and set a $19.00 price target on shares of Wendy’s in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.