Texas Permanent School Fund Corp Sells 4,485 Shares of The Wendy’s Company (NASDAQ:WEN)

Texas Permanent School Fund Corp cut its holdings in shares of The Wendy’s Company (NASDAQ:WEN) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,868 shares of the restaurant operator’s stock after selling 4,485 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.07% of Wendy’s worth $2,372,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Wendy’s in the 4th quarter valued at about $27,627,000. Vanguard Group Inc. lifted its holdings in shares of Wendy’s by 6.4% during the first quarter. Vanguard Group Inc. now owns 21,097,095 shares of the restaurant operator’s stock worth $397,469,000 after buying an additional 1,273,140 shares in the last quarter. Capital Research Global Investors bought a new stake in shares of Wendy’s in the fourth quarter valued at about $20,574,000. Assenagon Asset Management S.A. acquired a new position in shares of Wendy’s in the second quarter valued at about $17,094,000. Finally, Capstone Investment Advisors LLC boosted its holdings in Wendy’s by 243.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 255,069 shares of the restaurant operator’s stock valued at $4,806,000 after purchasing an additional 180,772 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WEN has been the topic of a number of analyst reports. 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 price target on the stock. Truist Financial lowered their price objective on shares of Wendy’s from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday. Stephens reiterated an “equal weight” rating and issued a $19.00 price target on shares of Wendy’s in a research note on Monday, September 9th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $26.00 target price on shares of Wendy’s in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.24.

Wendy’s Trading Up 0.9 %

Shares of WEN stock opened at $17.73 on Tuesday. The Wendy’s Company has a 1 year low of $15.61 and a 1 year high of $20.84. The company’s fifty day simple moving average is $16.98 and its two-hundred day simple moving average is $17.70. The company has a debt-to-equity ratio of 12.01, a current ratio of 2.17 and a quick ratio of 2.15. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 2.22 and a beta of 0.80.

Wendy’s (NASDAQ:WEN) last issued its earnings results on Thursday, August 1st. The restaurant operator reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. The company had revenue of $570.73 million during the quarter, compared to the consensus estimate of $577.15 million. During the same quarter in the prior year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, analysts anticipate that The Wendy’s Company will post 0.98 earnings per share for the current year.

Wendy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.64%. The ex-dividend date is Tuesday, September 3rd. Wendy’s’s dividend payout ratio is 101.01%.

Insider Buying and Selling

In other news, Director Matthew H. Peltz sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $17.18, for a total transaction of $17,180,000.00. Following the completion of the transaction, the director now owns 14,943,466 shares of the company’s stock, valued at $256,728,745.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.10% of the stock is owned by company insiders.

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.