The Wendy's Company (NASDAQ:WEN) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its holdings in shares of The Wendy's Company (NASDAQ:WEN - Free Report) by 46.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,866 shares of the restaurant operator's stock after selling 41,043 shares during the quarter. Edgestream Partners L.P.'s holdings in Wendy's were worth $700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WEN. CWM LLC lifted its holdings in shares of Wendy's by 22.6% in the 1st quarter. CWM LLC now owns 200,375 shares of the restaurant operator's stock valued at $2,931,000 after buying an additional 36,954 shares during the period. Stephens Inc. AR purchased a new stake in Wendy's in the 1st quarter worth approximately $224,000. Ballentine Partners LLC acquired a new stake in shares of Wendy's during the 1st quarter worth approximately $388,000. Alps Advisors Inc. increased its holdings in shares of Wendy's by 7.8% during the 1st quarter. Alps Advisors Inc. now owns 372,027 shares of the restaurant operator's stock valued at $5,443,000 after purchasing an additional 26,761 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Wendy's by 22.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,223 shares of the restaurant operator's stock valued at $105,000 after purchasing an additional 1,303 shares during the period. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WEN shares. Morgan Stanley set a $11.00 target price on shares of Wendy's and gave the stock an "underweight" rating in a research note on Monday, July 14th. Truist Financial cut their price objective on Wendy's from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Barclays decreased their target price on Wendy's from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. Bank of America cut their price target on shares of Wendy's from $13.00 to $11.00 and set a "buy" rating for the company in a report on Friday. Finally, Sanford C. Bernstein set a $13.00 price objective on shares of Wendy's in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Wendy's has a consensus rating of "Hold" and an average price target of $15.63.

Insider Buying and Selling

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

Wendy's Stock Down 1.4%

WEN traded down $0.15 during trading hours on Monday, hitting $10.32. 4,239,816 shares of the company's stock were exchanged, compared to its average volume of 4,730,914. The firm has a market cap of $1.98 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.68 and a beta of 0.34. The Wendy's Company has a 12-month low of $10.31 and a 12-month high of $20.60. The company has a current ratio of 1.49, a quick ratio of 1.47 and a debt-to-equity ratio of 24.88. The firm has a 50 day moving average of $11.51 and a 200 day moving average of $13.31.

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

Wendy's Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend was Monday, June 2nd. Wendy's's dividend payout ratio is presently 59.57%.

Wendy's Profile

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.