The Wendy's Company (NASDAQ:WEN) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers raised its position in shares of The Wendy's Company (NASDAQ:WEN - Free Report) by 20.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 700,472 shares of the restaurant operator's stock after purchasing an additional 117,324 shares during the period. Rhumbline Advisers owned approximately 0.35% of Wendy's worth $10,248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in Wendy's by 670.3% during the 4th quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator's stock valued at $25,000 after purchasing an additional 1,220 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Wendy's in the 4th quarter worth approximately $30,000. Colonial Trust Co SC bought a new stake in shares of Wendy's during the fourth quarter valued at approximately $31,000. Hillsdale Investment Management Inc. bought a new position in shares of Wendy's during the 4th quarter valued at about $46,000. Finally, New Age Alpha Advisors LLC purchased a new position in Wendy's during the 4th quarter valued at approximately $67,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Abigail E. Pringle sold 136,819 shares of the stock in a transaction on 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 sale, the insider now directly owns 203,005 shares of the company's stock, valued at $2,600,494.05. This trade represents a 40.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Lindsay J. Radkoski purchased 5,050 shares of the stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average cost of $11.68 per share, for a total transaction of $58,984.00. Following the acquisition, the chief marketing officer now directly owns 28,956 shares of the company's stock, valued at approximately $338,206.08. This represents a 21.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 17.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WEN. BMO Capital Markets decreased their target price on Wendy's from $17.00 to $15.00 and set a "market perform" rating for the company in a research report on Tuesday, May 6th. Stephens restated an "equal weight" rating and issued a $14.00 price target on shares of Wendy's in a report on Friday, May 2nd. Argus raised Wendy's to a "strong-buy" rating in a research report on Tuesday, February 18th. Truist Financial dropped their target price on shares of Wendy's from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Sanford C. Bernstein set a $13.00 price target on Wendy's in a research note on Monday, May 5th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $16.34.

Wendy's Trading Down 1.0%

NASDAQ WEN traded down $0.12 on Thursday, hitting $11.36. The company's stock had a trading volume of 2,824,197 shares, compared to its average volume of 4,344,375. The company's 50-day moving average is $12.19 and its 200 day moving average is $14.46. The Wendy's Company has a 1-year low of $10.98 and a 1-year high of $20.60. The firm has a market cap of $2.18 billion, a PE ratio of 11.96, a PEG ratio of 2.00 and a beta of 0.34. The company has a quick ratio of 1.83, a current ratio of 1.85 and a debt-to-equity ratio of 12.48.

Wendy's (NASDAQ:WEN - Get Free Report) last posted its earnings results on Friday, May 2nd. The restaurant operator reported $0.20 EPS for the quarter, hitting the consensus estimate 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 net margin of 8.65% and a return on equity of 75.56%. The company's quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. As a group, analysts predict that The Wendy's Company will post 0.99 earnings per share for the current fiscal year.

Wendy's Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Monday, June 2nd. Wendy's's payout ratio is 59.57%.

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.