Kovitz Investment Group Partners LLC Boosts Stock Position in The Wendy's Company $WEN

Key Points

• Kovitz Investment Group Partners LLC increased its stake in The Wendy's Company by 37.5% during the first quarter, now owning 362,601 shares valued at approximately $5.3 million.
• The Wendy's Company recently announced a quarterly dividend of $0.14 per share, resulting in a 5.3% yield for investors, with the payout ratio at 58.33%.
• Analysts have mixed ratings on Wendy's, with an average target price of $13.76, while recent earnings exceeded expectations with an EPS of $0.29.

Kovitz Investment Group Partners LLC lifted its holdings in The Wendy's Company (NASDAQ:WEN - Free Report) by 37.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 362,601 shares of the restaurant operator's stock after purchasing an additional 98,834 shares during the quarter. Kovitz Investment Group Partners LLC owned 0.19% of Wendy's worth $5,305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC boosted its holdings in Wendy's by 3,249.7% during the 4th quarter. Cubist Systematic Strategies LLC now owns 1,568,348 shares of the restaurant operator's stock valued at $25,564,000 after acquiring an additional 1,521,527 shares during the period. Nuveen LLC bought a new position in shares of Wendy's during the first quarter valued at approximately $15,117,000. Sound Income Strategies LLC raised its position in shares of Wendy's by 84,261.8% in the 1st quarter. Sound Income Strategies LLC now owns 596,438 shares of the restaurant operator's stock worth $8,726,000 after acquiring an additional 595,731 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Wendy's by 2.5% during the first quarter. Vanguard Group Inc. now owns 21,634,226 shares of the restaurant operator's stock valued at $316,509,000 after buying an additional 536,071 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Wendy's by 7.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,767,723 shares of the restaurant operator's stock valued at $99,012,000 after acquiring an additional 464,444 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Wendy's news, CMO Lindsay J. Radkoski bought 5,050 shares of Wendy's stock in a transaction on Tuesday, June 3rd. The shares were bought at an average price of $11.68 per share, for a total transaction of $58,984.00. Following the completion of the transaction, the chief marketing officer directly owned 28,956 shares of the company's stock, valued at $338,206.08. This trade represents a 21.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 17.00% of the company's stock.

Wendy's Trading Up 2.7%

Shares of WEN traded up $0.2750 during midday trading on Friday, reaching $10.6250. The company had a trading volume of 1,623,739 shares, compared to its average volume of 5,969,658. The Wendy's Company has a 1-year low of $9.74 and a 1-year high of $20.60. The company has a quick ratio of 1.43, a current ratio of 1.45 and a debt-to-equity ratio of 28.74. The firm has a 50 day simple moving average of $10.87 and a 200-day simple moving average of $12.58. The stock has a market cap of $2.02 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 1.93 and a beta of 0.31.

Wendy's (NASDAQ:WEN - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $560.93 million during the quarter, compared to analyst estimates of $558.95 million. Wendy's had a net margin of 8.63% and a return on equity of 103.07%. Wendy's's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Wendy's has set its FY 2025 guidance at 0.820-0.89 EPS. Research analysts forecast that The Wendy's Company will post 0.99 EPS for the current fiscal year.

Wendy's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $0.14 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 5.3%. Wendy's's dividend payout ratio is currently 58.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Cowen reaffirmed a "hold" rating on shares of Wendy's in a report on Friday, August 8th. Loop Capital lowered their target price on shares of Wendy's from $21.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Bank of America dropped their price target on shares of Wendy's from $13.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Truist Financial cut their price target on shares of Wendy's from $14.00 to $13.00 and set a "buy" rating for the company in a report on Monday, August 11th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Wendy's in a report on Friday, August 8th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $13.76.

Wendy's Company 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.