Neo Ivy Capital Management Acquires Shares of 228,432 The Wendy's Company (NASDAQ:WEN)

Neo Ivy Capital Management acquired a new stake in The Wendy's Company (NASDAQ:WEN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 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 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Wendy's by 670.3% during the fourth quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 1,220 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Wendy's during the fourth quarter worth $30,000. Colonial Trust Co SC bought a new position in Wendy's during the fourth quarter worth $31,000. Hillsdale Investment Management Inc. bought a new position in Wendy's during the fourth quarter worth $46,000. Finally, Bartlett & CO. Wealth Management LLC lifted its stake in Wendy's by 46.4% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 3,107 shares of the restaurant operator's stock worth $51,000 after purchasing an additional 985 shares during the last quarter. Institutional investors and hedge funds own 85.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. 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. Citigroup raised their target price on Wendy's from $15.50 to $16.50 and gave the company a "neutral" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. upgraded Wendy's from a "neutral" rating to an "overweight" rating and cut their target price for the company from $17.00 to $15.00 in a research note on Monday, May 5th. Truist Financial cut their target price on Wendy's from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, Barclays lowered their price target on Wendy's from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $16.34.

Wendy's Trading Down 1.0%

Shares of WEN opened at $11.50 on Friday. The business's 50-day moving average price is $13.12 and its 200 day moving average price is $15.16. The stock has a market capitalization of $2.21 billion, a P/E ratio of 12.11, a P/E/G ratio of 2.00 and a beta of 0.40. The Wendy's Company has a 1-year low of $11.39 and a 1-year high of $20.60. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48.

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

Wendy's Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.56 annualized dividend and a dividend yield of 4.87%. Wendy's's dividend payout ratio is 59.57%.

Insider Activity

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 completion of the sale, the insider now directly owns 203,005 shares in the company, valued at $2,600,494.05. The trade was a 40.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 17.00% of the stock is owned by corporate insiders.

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.

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