Park Avenue Securities LLC Has $465,000 Holdings in The Wendy’s Company (NASDAQ:WEN)

Park Avenue Securities LLC trimmed its stake in shares of The Wendy’s Company (NASDAQ:WEN) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,657 shares of the restaurant operator’s stock after selling 1,249 shares during the period. Park Avenue Securities LLC’s holdings in Wendy’s were worth $465,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WEN. Vanguard Group Inc. boosted 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. Charles Schwab Investment Management Inc. boosted its position in shares of Wendy’s by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,706,052 shares of the restaurant operator’s stock worth $91,674,000 after purchasing an additional 31,341 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Wendy’s by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,141,024 shares of the restaurant operator’s stock worth $80,668,000 after purchasing an additional 63,927 shares during the period. Royal Bank of Canada increased its holdings in Wendy’s by 3.7% in the third quarter. Royal Bank of Canada now owns 3,208,882 shares of the restaurant operator’s stock valued at $65,492,000 after purchasing an additional 113,406 shares during the last quarter. Finally, Norges Bank acquired a new position in Wendy’s in the fourth quarter valued at about $27,627,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wendy’s Stock Up 0.1 %

Shares of WEN stock opened at $16.96 on Friday. The firm’s fifty day moving average price is $17.98 and its two-hundred day moving average price is $18.60. The Wendy’s Company has a 1 year low of $16.22 and a 1 year high of $22.42. 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 firm has a market capitalization of $3.48 billion, a P/E ratio of 17.13, a PEG ratio of 1.70 and a beta of 0.77.

Wendy’s (NASDAQ:WEN) last released its earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Wendy’s had a return on equity of 62.68% and a net margin of 9.44%. The business had revenue of $534.80 million for the quarter, compared to the consensus estimate of $540.84 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. Wendy’s’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts predict that The Wendy’s Company will post 1 EPS for the current fiscal year.

Wendy’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 5.90%. Wendy’s’s dividend payout ratio is presently 101.01%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WEN shares. The Goldman Sachs Group began coverage on Wendy’s in a research report on Thursday, June 13th. They set a “sell” rating and a $16.00 target price for the company. TD Cowen reiterated a “hold” rating and issued a $19.00 target price on shares of Wendy’s in a report on Thursday, June 13th. Citigroup boosted their price target on shares of Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. UBS Group lifted their target price on Wendy’s from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, Wedbush boosted their target price on Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Wendy’s presently has an average rating of “Hold” and a consensus target price of $21.79.

Insider Activity at Wendy’s

In other Wendy’s news, CMO Juan Carlos Loredo sold 44,806 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $19.50, for a total transaction of $873,717.00. Following the sale, the chief marketing officer now directly owns 27,586 shares of the company’s stock, valued at $537,927. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.10% of the stock is owned by company insiders.

Wendy’s Company Profile

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.