Algert Global LLC Makes New Investment in The Wendy’s Company (NASDAQ:WEN)

Algert Global LLC acquired a new stake in The Wendy’s Company (NASDAQ:WEN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 17,599 shares of the restaurant operator’s stock, valued at approximately $298,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System grew its holdings in Wendy’s by 1.5% in the second quarter. Arizona State Retirement System now owns 48,893 shares of the restaurant operator’s stock worth $829,000 after purchasing an additional 711 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Wendy’s by 5.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,170 shares of the restaurant operator’s stock valued at $286,000 after buying an additional 801 shares during the period. State of Michigan Retirement System increased its position in Wendy’s by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 40,985 shares of the restaurant operator’s stock valued at $772,000 after buying an additional 900 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Wendy’s by 2.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 46,945 shares of the restaurant operator’s stock worth $796,000 after buying an additional 953 shares during the period. Finally, Salomon & Ludwin LLC boosted its holdings in Wendy’s by 378.0% in the first quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 1,240 shares in the last quarter. Institutional investors own 85.96% of the company’s stock.

Analyst Upgrades and Downgrades

WEN has been the subject of several recent research reports. Stephens restated an “equal weight” rating and set a $19.00 price objective on shares of Wendy’s in a report on Tuesday. Wolfe Research upgraded shares of Wendy’s to a “strong-buy” rating in a report on Friday, September 13th. TD Cowen reiterated a “hold” rating and set a $17.00 price objective on shares of Wendy’s in a report on Monday, September 9th. Loop Capital reissued a “buy” rating and set a $26.00 target price on shares of Wendy’s in a research report on Monday, July 15th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $19.50 price target on shares of Wendy’s in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.12.

Insider Buying and Selling at Wendy’s

In other news, Director Matthew H. Peltz sold 1,000,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 14,943,466 shares in the company, valued at approximately $256,728,745.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 17.10% of the company’s stock.

Wendy’s Trading Down 0.5 %

NASDAQ WEN opened at $17.67 on Wednesday. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 2.33 and a beta of 0.80. The business’s fifty day moving average is $17.15 and its 200-day moving average is $17.61. 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 Wendy’s Company has a one year low of $15.61 and a one year high of $20.65.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings data 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 period in the prior year, the firm posted $0.28 EPS. The business’s revenue was up 1.6% on a year-over-year basis. Equities research analysts predict that The Wendy’s Company will post 0.98 EPS for the current year.

Wendy’s Announces Dividend

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

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.