Point72 Asia Singapore Pte. Ltd. Reduces Holdings in The Wendy’s Company (NASDAQ:WEN)

Point72 Asia Singapore Pte. Ltd. decreased its position in The Wendy’s Company (NASDAQ:WEN) by 85.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,511 shares of the restaurant operator’s stock after selling 8,945 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Wendy’s were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of WEN. Hsbc Holdings PLC purchased a new position in shares of Wendy’s during the 4th quarter valued at approximately $2,533,000. Vanguard Group Inc. grew its stake in shares of Wendy’s by 6.4% in the 1st quarter. Vanguard Group Inc. now owns 21,097,095 shares of the restaurant operator’s stock worth $397,469,000 after purchasing an additional 1,273,140 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Wendy’s during the fourth quarter valued at $1,027,000. Capital Research Global Investors purchased a new stake in shares of Wendy’s in the 4th quarter valued at approximately $20,574,000. Finally, KBC Group NV boosted its position in Wendy’s by 175.8% during the 4th quarter. KBC Group NV now owns 11,235 shares of the restaurant operator’s stock worth $219,000 after acquiring an additional 7,161 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Wendy’s Price Performance

WEN stock opened at $17.66 on Wednesday. The Wendy’s Company has a 52 week low of $15.61 and a 52 week high of $20.65. The company has a debt-to-equity ratio of 12.01, a quick ratio of 2.15 and a current ratio of 2.17. The firm’s fifty day moving average is $17.09 and its 200 day moving average is $17.64. The firm has a market cap of $3.62 billion, a P/E ratio of 17.84, a P/E/G ratio of 2.33 and a beta of 0.80.

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

Wendy’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 5.66%. Wendy’s’s dividend payout ratio is 101.01%.

Analyst Ratings Changes

Several equities research analysts recently commented on WEN shares. TD Cowen reissued a “hold” rating and issued a $17.00 price target on shares of Wendy’s in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their price objective on shares of Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Tigress Financial restated a “buy” rating and issued a $29.00 price objective on shares of Wendy’s in a research report on Wednesday, September 4th. Morgan Stanley dropped their price target on shares of Wendy’s from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Finally, BMO Capital Markets cut their target price on Wendy’s from $22.00 to $19.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.24.

Insider Activity

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 14,943,466 shares in the company, valued at approximately $256,728,745.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.10% of the company’s stock.

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.