Neo Ivy Capital Management Takes Position in The Wendy's Company (NASDAQ:WEN)

Neo Ivy Capital Management purchased a new position in The Wendy's Company (NASDAQ:WEN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 228,432 shares of the restaurant operator's stock, valued at approximately $3,723,000. Neo Ivy Capital Management owned approximately 0.11% of Wendy's at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Cubist Systematic Strategies LLC grew its position in shares of Wendy's by 3,249.7% in the 4th quarter. Cubist Systematic Strategies LLC now owns 1,568,348 shares of the restaurant operator's stock worth $25,564,000 after buying an additional 1,521,527 shares during the period. Invesco Ltd. grew its holdings in Wendy's by 296.1% in the fourth quarter. Invesco Ltd. now owns 1,882,829 shares of the restaurant operator's stock worth $30,690,000 after purchasing an additional 1,407,503 shares during the period. Trexquant Investment LP bought a new position in shares of Wendy's during the fourth quarter valued at approximately $16,678,000. Victory Capital Management Inc. lifted its holdings in shares of Wendy's by 93.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,591,281 shares of the restaurant operator's stock valued at $25,938,000 after purchasing an additional 766,910 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Wendy's during the fourth quarter valued at approximately $8,031,000. 85.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WEN shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $17.00 price objective on shares of Wendy's in a research report on Tuesday, March 4th. The Goldman Sachs Group cut their target price on Wendy's from $17.00 to $15.00 and set a "sell" rating on the stock in a research note on Thursday, February 6th. Loop Capital lowered their price target on Wendy's from $26.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Barclays dropped their price target on shares of Wendy's from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Finally, Truist Financial reduced their price objective on shares of Wendy's from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $16.34.

Insider Transactions at Wendy's

In other news, insider Abigail E. Pringle sold 136,819 shares of Wendy's stock in a transaction dated 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 transaction, the insider now directly owns 203,005 shares of the company's stock, valued at $2,600,494.05. The trade was a 40.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.00% of the company's stock.

Wendy's Stock Performance

WEN traded up $0.09 during mid-day trading on Wednesday, reaching $11.30. 1,853,989 shares of the company traded hands, compared to its average volume of 4,297,612. The company's fifty day moving average price is $12.87 and its 200-day moving average price is $14.95. The stock has a market capitalization of $2.17 billion, a P/E ratio of 11.89, a P/E/G ratio of 2.00 and a beta of 0.40. The company has a quick ratio of 1.83, a current ratio of 1.85 and a debt-to-equity ratio of 12.48. The Wendy's Company has a 52-week low of $11.16 and a 52-week high of $20.60.

Wendy's (NASDAQ:WEN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The restaurant operator reported $0.20 EPS for the quarter, meeting analysts' consensus estimates of $0.20. The company had revenue of $523.47 million during the quarter, compared to analysts' expectations of $530.11 million. Wendy's had a return on equity of 75.56% and a net margin of 8.65%. Wendy's's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. On average, sell-side analysts expect that The Wendy's Company will post 0.99 EPS for the current year.

Wendy's Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is 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.