Wendy’s Company (The) (WEN) Position Reduced by TIAA CREF Investment Management LLC

Wendy’s Company (The) (WEN) Position Reduced by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC decreased its stake in shares of Wendy’s Company (The) (NASDAQ:WEN) by 23.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 586,327 shares of the company’s stock after selling 183,549 shares during the period. TIAA CREF Investment Management LLC owned 0.22% of Wendy’s Company (The) worth $6,332,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Seven Eight Capital LLC purchased a new position in Wendy’s Company (The) during the second quarter valued at $102,000. LS Investment Advisors LLC boosted its position in Wendy’s Company (The) by 67.1% in the second quarter. LS Investment Advisors LLC now owns 13,324 shares of the company’s stock valued at $128,000 after buying an additional 5,350 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Wendy’s Company (The) during the second quarter valued at $137,000. World Asset Management Inc boosted its position in Wendy’s Company (The) by 28.3% in the third quarter. World Asset Management Inc now owns 13,520 shares of the company’s stock valued at $146,000 after buying an additional 2,984 shares in the last quarter. Finally, Calvert Investment Management Inc. boosted its position in Wendy’s Company (The) by 8.3% in the second quarter. Calvert Investment Management Inc. now owns 16,313 shares of the company’s stock valued at $157,000 after buying an additional 1,251 shares in the last quarter. 83.50% of the stock is currently owned by institutional investors.

Wendy’s Company (NASDAQ:WEN) traded down 0.686% on Friday, hitting $13.745. The stock had a trading volume of 1,278,151 shares. The firm’s 50-day moving average is $13.68 and its 200-day moving average is $11.41. Wendy’s Company has a 52-week low of $8.89 and a 52-week high of $14.07. The company has a market cap of $3.53 billion, a P/E ratio of 19.978 and a beta of 0.86.

Wendy’s Company (The) (NASDAQ:WEN) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. Wendy’s Company (The) had a return on equity of 16.62% and a net margin of 11.74%. The firm earned $364 million during the quarter, compared to analysts’ expectations of $350.35 million. During the same quarter last year, the firm earned $0.09 earnings per share. The business’s revenue for the quarter was down 21.7% on a year-over-year basis. Equities research analysts anticipate that Wendy’s Company will post $0.41 earnings per share for the current fiscal year.

Several equities analysts have weighed in on the company. Zacks Investment Research cut Wendy’s Company (The) from a “hold” rating to a “sell” rating in a report on Thursday, January 19th. Longbow Research cut Wendy’s Company (The) from a “buy” rating to a “neutral” rating in a report on Friday, January 6th. RBC Capital Markets reiterated a “hold” rating and issued a $13.00 target price on shares of Wendy’s Company (The) in a report on Friday, January 6th. Stephens reiterated an “overweight” rating and issued a $15.00 target price on shares of Wendy’s Company (The) in a report on Monday, December 19th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $11.00 target price on shares of Wendy’s Company (The) in a report on Wednesday, December 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $12.55.

In other Wendy’s Company (The) news, major shareholder Edward P. Garden acquired 3,743,384 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was bought at an average cost of $12.79 per share, for a total transaction of $47,877,881.36. Following the completion of the transaction, the insider now owns 240,365 shares of the company’s stock, valued at approximately $3,074,268.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 22.70% of the company’s stock.

About Wendy’s Company (The)

The Wendy’s Company is the parent company of its subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is the restaurant company specializing in the hamburger sandwich segment.

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