PNC Financial Services Group Inc. Sells 1,275 Shares of The Wendy’s Company (NASDAQ:WEN)

PNC Financial Services Group Inc. cut its holdings in shares of The Wendy’s Company (NASDAQ:WEN) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,444 shares of the restaurant operator’s stock after selling 1,275 shares during the period. PNC Financial Services Group Inc.’s holdings in Wendy’s were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capstone Investment Advisors LLC raised its stake in shares of Wendy’s by 262.4% in the 4th quarter. Capstone Investment Advisors LLC now owns 74,297 shares of the restaurant operator’s stock valued at $1,447,000 after purchasing an additional 53,794 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Wendy’s by 145.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,116 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 1,255 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Wendy’s in the fourth quarter valued at about $2,533,000. Alberta Investment Management Corp acquired a new stake in shares of Wendy’s in the fourth quarter valued at about $1,027,000. Finally, Advisor Resource Council acquired a new stake in shares of Wendy’s in the fourth quarter valued at about $372,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Insider Activity at Wendy’s

In other Wendy’s news, CMO Juan Carlos Loredo sold 44,806 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now directly owns 27,586 shares in the company, valued at $537,927. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on WEN. JPMorgan Chase & Co. lifted their target price on Wendy’s from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, June 3rd. Wedbush lifted their target price on Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Citigroup lifted their target price on Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Piper Sandler lifted their target price on Wendy’s from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Finally, UBS Group lifted their price target on Wendy’s from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.79.

Wendy’s Trading Down 3.1 %

Shares of NASDAQ:WEN opened at $16.43 on Tuesday. The Wendy’s Company has a 12-month low of $16.22 and a 12-month high of $22.42. The stock has a market cap of $3.37 billion, a PE ratio of 16.60, a P/E/G ratio of 1.70 and a beta of 0.76. The business has a 50 day moving average of $17.92 and a 200-day moving average of $18.56. The company has a quick ratio of 2.02, a current ratio of 2.04 and a debt-to-equity ratio of 11.21.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 earnings per share. As a group, equities research analysts forecast that The Wendy’s Company will post 1 earnings per share for the current year.

Wendy’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend was Monday, June 3rd. Wendy’s’s dividend payout ratio (DPR) is currently 101.01%.

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.