Kingsview Wealth Management LLC Takes Position in The Wendy's Company (NASDAQ:WEN)

Kingsview Wealth Management LLC bought a new position in shares of The Wendy's Company (NASDAQ:WEN - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 24,700 shares of the restaurant operator's stock, valued at approximately $361,000.

Other hedge funds have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC grew its stake in shares of 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 valued at $25,564,000 after buying an additional 1,521,527 shares in the last quarter. Invesco Ltd. grew its stake in shares of Wendy's by 296.1% in the fourth quarter. Invesco Ltd. now owns 1,882,829 shares of the restaurant operator's stock valued at $30,690,000 after buying an additional 1,407,503 shares in the last quarter. Trexquant Investment LP bought a new position in Wendy's during the fourth quarter worth $16,678,000. Sound Income Strategies LLC boosted its position in Wendy's by 84,261.8% during the first quarter. Sound Income Strategies LLC now owns 596,438 shares of the restaurant operator's stock worth $8,726,000 after purchasing an additional 595,731 shares during the period. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Wendy's in the fourth quarter valued at about $8,031,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wendy's Trading Up 1.0%

Shares of Wendy's stock traded up $0.11 on Friday, reaching $10.78. 2,365,457 shares of the company's stock were exchanged, compared to its average volume of 5,805,933. The company has a market capitalization of $2.07 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 2.30 and a beta of 0.34. The Wendy's Company has a 52 week low of $10.30 and a 52 week high of $20.60. The firm's 50-day moving average is $11.44 and its two-hundred day moving average is $13.24. The company has a debt-to-equity ratio of 24.88, a quick ratio of 1.47 and a current ratio of 1.49.

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

Wendy's Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date was Monday, June 2nd. Wendy's's dividend payout ratio is currently 59.57%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

WEN has been the subject of a number of analyst reports. Truist Financial dropped their price target on shares of Wendy's from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Morgan Stanley dropped their price target on Wendy's from $13.00 to $11.00 and set an "underweight" rating for the company in a research note on Monday, July 14th. Guggenheim downgraded Wendy's from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. raised Wendy's from a "neutral" rating to an "overweight" rating and dropped their price target for the company from $17.00 to $15.00 in a research note on Monday, May 5th. Finally, Stifel Nicolaus dropped their price target on Wendy's from $16.00 to $14.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Wendy's presently has a consensus rating of "Hold" and an average price target of $15.58.

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.