Quarry LP Invests $34,000 in The Wendy’s Company (NASDAQ:WEN)

Quarry LP acquired a new stake in The Wendy’s Company (NASDAQ:WEN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,732 shares of the restaurant operator’s stock, valued at approximately $34,000.

A number of other institutional investors have also made changes to their positions in the business. Trian Fund Management L.P. raised its stake in shares of Wendy’s by 60.9% during the 3rd quarter. Trian Fund Management L.P. now owns 33,350,743 shares of the restaurant operator’s stock worth $680,689,000 after purchasing an additional 12,618,115 shares in the last quarter. Norges Bank acquired a new stake in Wendy’s in the fourth quarter valued at $27,627,000. Vanguard Group Inc. lifted its stake in Wendy’s by 6.1% in the third quarter. Vanguard Group Inc. now owns 20,248,412 shares of the restaurant operator’s stock valued at $413,270,000 after acquiring an additional 1,162,540 shares during the last quarter. Capital Research Global Investors bought a new position in shares of Wendy’s in the 4th quarter valued at about $20,574,000. Finally, AQR Capital Management LLC increased its stake in shares of Wendy’s by 193.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,277,958 shares of the restaurant operator’s stock worth $26,083,000 after purchasing an additional 842,856 shares during the last quarter. Institutional investors own 85.96% of the company’s stock.

Insider Buying and Selling at Wendy’s

In related news, CMO Juan Carlos Loredo sold 44,806 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $19.50, for a total value of $873,717.00. Following the sale, the chief marketing officer now owns 27,586 shares of the company’s stock, valued at $537,927. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Wendy’s Trading Down 0.4 %

WEN opened at $16.61 on Tuesday. The company has a market cap of $3.41 billion, a P/E ratio of 16.78, a PEG ratio of 1.68 and a beta of 0.77. The company has a current ratio of 2.04, a quick ratio of 2.02 and a debt-to-equity ratio of 11.21. The company’s 50 day moving average is $18.37 and its 200-day moving average is $18.77. The Wendy’s Company has a 1-year low of $16.22 and a 1-year high of $22.59.

Wendy’s (NASDAQ:WEN) last issued its earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $534.80 million during the quarter, compared to analysts’ expectations of $540.84 million. Wendy’s had a return on equity of 62.68% and a net margin of 9.44%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 EPS. Equities research analysts predict that The Wendy’s Company will post 1 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date was Monday, June 3rd. Wendy’s’s payout ratio is 101.01%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WEN. TD Cowen reiterated a “hold” rating and issued a $19.00 target price on shares of Wendy’s in a research note on Thursday, June 13th. Stephens reissued an “equal weight” rating and set a $20.00 target price on shares of Wendy’s in a report on Thursday, May 2nd. Citigroup raised their price target on Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. BMO Capital Markets upped their price objective on shares of Wendy’s from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Wendy’s from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Wendy’s currently has an average rating of “Hold” and a consensus target price of $21.79.

About Wendy’s

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.