The Wendy’s Company (NASDAQ:WEN) Shares Sold by Quest Partners LLC

Quest Partners LLC trimmed its position in The Wendy’s Company (NASDAQ:WEN) by 82.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,496 shares of the restaurant operator’s stock after selling 71,362 shares during the period. Quest Partners LLC’s holdings in Wendy’s were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in Wendy’s by 22.2% in the fourth quarter. Russell Investments Group Ltd. now owns 3,220 shares of the restaurant operator’s stock worth $63,000 after purchasing an additional 586 shares during the period. Arizona State Retirement System lifted its position 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. Private Wealth Strategies L.L.C. lifted its position in Wendy’s by 4.6% in the fourth quarter. Private Wealth Strategies L.L.C. now owns 17,867 shares of the restaurant operator’s stock worth $348,000 after purchasing an additional 789 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Wendy’s by 5.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,170 shares of the restaurant operator’s stock valued at $286,000 after acquiring an additional 801 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of Wendy’s by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 40,985 shares of the restaurant operator’s stock valued at $772,000 after acquiring an additional 900 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wendy’s Price Performance

NASDAQ WEN opened at $17.57 on Friday. The Wendy’s Company has a fifty-two week low of $15.61 and a fifty-two week high of $20.84. The stock’s 50-day moving average is $16.94 and its two-hundred day moving average is $17.71. 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 firm has a market cap of $3.57 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

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

Wendy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.69%. Wendy’s’s payout ratio is presently 101.01%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on WEN shares. TD Cowen reiterated a “hold” rating and set a $17.00 price objective on shares of Wendy’s in a research report on Monday, September 9th. Truist Financial cut their target price on shares of Wendy’s from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. The Goldman Sachs Group initiated coverage on shares of Wendy’s in a research note on Thursday, June 13th. They set a “sell” rating and a $16.00 target price on the stock. Barclays cut their target price on shares of Wendy’s from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Wendy’s from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.13.

Insider Transactions at Wendy’s

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

Wendy’s 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.