Fox Run Management L.L.C. Sells 46,393 Shares of The Wendy's Company $WEN

Key Points

• Fox Run Management L.L.C. reduced its stake in The Wendy's Company by 39.4%, now holding 71,452 shares valued at approximately $1,045,000.
• Wendy's announced a quarterly dividend of $0.14 per share, reflecting an annualized yield of 5.3%, with the ex-dividend date set for September 2nd.
• The company reported earnings of $0.29 per share for the last quarter, surpassing analyst estimates, despite a 1.7% year-over-year revenue decline.

Fox Run Management L.L.C. cut its holdings in shares of The Wendy's Company (NASDAQ:WEN - Free Report) by 39.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,452 shares of the restaurant operator's stock after selling 46,393 shares during the period. Fox Run Management L.L.C.'s holdings in Wendy's were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC bought a new position in Wendy's during the fourth quarter worth about $31,000. Farther Finance Advisors LLC lifted its holdings in shares of Wendy's by 1,111.9% in the first quarter. Farther Finance Advisors LLC now owns 2,133 shares of the restaurant operator's stock valued at $31,000 after purchasing an additional 1,957 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Wendy's by 7,180.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,422 shares of the restaurant operator's stock valued at $50,000 after purchasing an additional 3,375 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Wendy's by 91.0% in the first quarter. GAMMA Investing LLC now owns 4,266 shares of the restaurant operator's stock valued at $62,000 after purchasing an additional 2,033 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Wendy's by 27.4% in the first quarter. Signaturefd LLC now owns 4,262 shares of the restaurant operator's stock valued at $62,000 after purchasing an additional 917 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on WEN shares. BMO Capital Markets restated a "market perform" rating and issued a $12.00 price target (down from $15.00) on shares of Wendy's in a report on Friday, August 8th. Bank of America cut their price target on Wendy's from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Piper Sandler restated an "overweight" rating and issued a $13.00 price target on shares of Wendy's in a report on Friday, August 8th. UBS Group restated a "neutral" rating and issued a $11.00 price target (down from $14.00) on shares of Wendy's in a report on Wednesday, July 30th. Finally, Morgan Stanley restated an "underweight" rating on shares of Wendy's in a report on Friday, August 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $13.76.

Wendy's Stock Performance

Shares of NASDAQ:WEN traded up $0.11 during mid-day trading on Monday, reaching $10.68. The company had a trading volume of 6,099,235 shares, compared to its average volume of 6,006,141. The company's 50-day moving average price is $10.95 and its 200-day moving average price is $12.67. The company has a current ratio of 1.45, a quick ratio of 1.43 and a debt-to-equity ratio of 28.74. The Wendy's Company has a one year low of $9.74 and a one year high of $20.60. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.99 and a beta of 0.31.

Wendy's (NASDAQ:WEN - Get Free Report) last issued its earnings results on Friday, August 8th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.04. Wendy's had a net margin of 8.63% and a return on equity of 103.07%. The business had revenue of $560.93 million for the quarter, compared to analysts' expectations of $558.95 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that The Wendy's Company will post 0.99 EPS for the current fiscal year.

Wendy's Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.56 annualized dividend and a dividend yield of 5.2%. Wendy's's dividend payout ratio is presently 58.33%.

Insider Buying and Selling at Wendy's

In other news, CMO Lindsay J. Radkoski purchased 5,050 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were purchased at an average price of $11.68 per share, with a total value of $58,984.00. Following the completion of the acquisition, the chief marketing officer owned 28,956 shares in the company, valued at $338,206.08. This trade represents a 21.12% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 17.00% of the company's stock.

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.