The Wendy's Company (NASDAQ:WEN) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in The Wendy's Company (NASDAQ:WEN - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,577,359 shares of the restaurant operator's stock after acquiring an additional 142,500 shares during the period. Bank of New York Mellon Corp owned 1.31% of Wendy's worth $37,707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Wendy's by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,033,560 shares of the restaurant operator's stock worth $65,747,000 after buying an additional 43,805 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Wendy's by 3.0% during the 4th quarter. Janus Henderson Group PLC now owns 3,133,832 shares of the restaurant operator's stock worth $51,081,000 after purchasing an additional 90,380 shares during the period. Invesco Ltd. grew its holdings in Wendy's by 296.1% during the 4th quarter. Invesco Ltd. now owns 1,882,829 shares of the restaurant operator's stock valued at $30,690,000 after purchasing an additional 1,407,503 shares during the last quarter. Northern Trust Corp raised its position in Wendy's by 24.3% in the 4th quarter. Northern Trust Corp now owns 1,575,420 shares of the restaurant operator's stock worth $25,679,000 after purchasing an additional 308,142 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its stake in Wendy's by 3,249.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 1,568,348 shares of the restaurant operator's stock worth $25,564,000 after purchasing an additional 1,521,527 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company's stock.

Wendy's Stock Up 1.1%

WEN traded up $0.12 during trading on Thursday, hitting $10.57. The stock had a trading volume of 7,362,172 shares, compared to its average volume of 4,721,629. The stock has a 50 day simple moving average of $11.57 and a two-hundred day simple moving average of $13.43. The company has a debt-to-equity ratio of 24.88, a quick ratio of 1.47 and a current ratio of 1.49. The Wendy's Company has a twelve month low of $10.34 and a twelve month high of $20.60. The company has a market capitalization of $2.03 billion, a PE ratio of 11.24, a PEG ratio of 1.63 and a beta of 0.34.

Wendy's (NASDAQ:WEN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share for the quarter, hitting analysts' consensus estimates of $0.20. Wendy's had a return on equity of 85.36% and a net margin of 8.57%. The firm had revenue of $523.47 million during the quarter, compared to analysts' expectations of $530.11 million. During the same quarter last year, the firm earned $0.23 EPS. The business's quarterly revenue was down 2.1% on a year-over-year basis. On average, research analysts predict that The Wendy's Company will post 0.99 earnings per share for the current year.

Wendy's Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.30%. The ex-dividend date was Monday, June 2nd. Wendy's's payout ratio is currently 59.57%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group cut their target price on Wendy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Sanford C. Bernstein set a $13.00 price objective on Wendy's in a research report on Monday, May 5th. TD Securities decreased their target price on Wendy's from $14.00 to $13.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Truist Financial lowered their target price on shares of Wendy's from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Finally, Wall Street Zen upgraded shares of Wendy's from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Wendy's currently has a consensus rating of "Hold" and an average target price of $15.87.

Insider Activity at Wendy's

In related news, CMO Lindsay J. Radkoski bought 5,050 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were bought at an average price of $11.68 per share, with a total value of $58,984.00. Following the transaction, the chief marketing officer owned 28,956 shares in the company, valued at approximately $338,206.08. This trade represents a 21.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Abigail E. Pringle sold 136,819 shares of Wendy's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $12.81, for a total transaction of $1,752,651.39. Following the sale, the insider owned 203,005 shares of the company's stock, valued at $2,600,494.05. The trade was a 40.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.00% of the company's stock.

About Wendy's

The Wendy's Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy's U.S., Wendy's International, and Global Real Estate and Development. The Wendy's U.S. segment includes the operation and franchising of Wendy's restaurants in the U.S.