Northern Trust Corp Acquires 1,411,912 Shares of The Wendy's Company $WEN

Key Points

• Northern Trust Corp increased its stake in The Wendy's Company by 89.6%, acquiring an additional 1,411,912 shares to own a total of approximately 2,987,332 shares valued at $43.7 million.
• Wendy's announced a quarterly dividend of $0.14 per share, reflecting an annualized yield of 5.3%, with the payout scheduled for September 16th.
• Analysts have varied ratings for Wendy's, with a consensus target price of $13.82 and a majority rating it as a "Hold," despite three analysts giving it a "Strong Buy" rating.

Northern Trust Corp boosted its holdings in shares of The Wendy's Company (NASDAQ:WEN - Free Report) by 89.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,987,332 shares of the restaurant operator's stock after acquiring an additional 1,411,912 shares during the period. Northern Trust Corp owned 1.56% of Wendy's worth $43,705,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Colonial Trust Co SC purchased a new position in Wendy's during the 4th quarter valued at about $31,000. Farther Finance Advisors LLC lifted its position in Wendy's by 1,111.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,133 shares of the restaurant operator's stock valued at $31,000 after acquiring an additional 1,957 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Wendy's by 7,180.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,422 shares of the restaurant operator's stock valued at $50,000 after acquiring an additional 3,375 shares during the period. GAMMA Investing LLC lifted its position in Wendy's by 91.0% during the 1st quarter. GAMMA Investing LLC now owns 4,266 shares of the restaurant operator's stock valued at $62,000 after acquiring an additional 2,033 shares during the period. Finally, Signaturefd LLC lifted its position in Wendy's by 27.4% during the 1st quarter. Signaturefd LLC now owns 4,262 shares of the restaurant operator's stock valued at $62,000 after acquiring an additional 917 shares during the period. 85.96% of the stock is owned by hedge funds and other institutional investors.

Wendy's Stock Performance

Shares of WEN stock traded up $0.11 during trading hours on Monday, reaching $10.61. The company had a trading volume of 6,057,868 shares, compared to its average volume of 6,879,734. The business has a fifty day moving average price of $10.77 and a 200-day moving average price of $12.38. 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 $2.02 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.99 and a beta of 0.37. The company has a debt-to-equity ratio of 28.74, a quick ratio of 1.43 and a current ratio of 1.45.

Wendy's (NASDAQ:WEN - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The restaurant operator reported $0.29 EPS for the quarter, topping 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 firm had revenue of $560.93 million during the quarter, compared to analyst estimates of $558.95 million. During the same period in the previous year, the business posted $0.27 earnings per share. The business's revenue for the quarter was down 1.7% on a year-over-year basis. Wendy's has set its FY 2025 guidance at 0.820-0.89 EPS. Sell-side analysts predict that The Wendy's Company will post 0.99 earnings per share for the current fiscal year.

Wendy's Dividend Announcement

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

Analyst Upgrades and Downgrades

WEN has been the subject of a number of recent research reports. Bank of America lowered their price target on shares of Wendy's from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Stephens restated an "equal weight" rating on shares of Wendy's in a research note on Monday, August 11th. Sanford C. Bernstein set a $13.00 price objective on shares of Wendy's in a research note on Monday, May 5th. Citigroup upgraded shares of Wendy's from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Truist Financial reduced their price objective on shares of Wendy's from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $13.82.

Insider Transactions at Wendy's

In other Wendy's news, CMO Lindsay J. Radkoski bought 5,050 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was bought at an average cost of $11.68 per share, for a total transaction of $58,984.00. Following the completion of the transaction, the chief marketing officer owned 28,956 shares of the company's stock, valued at $338,206.08. This represents a 21.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.00% of the company's stock.

About Wendy's

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.