The Wendy's Company (NASDAQ:WEN) Stake Boosted by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in The Wendy's Company by 32.3%, owning 624,689 shares valued at approximately $9.14 million at the end of the most recent quarter.
• Wendy's reported a quarterly earnings per share (EPS) of $0.20, matching analysts' expectations, but experienced a 2.1% decline in revenue compared to the same quarter last year.
• Wall Street analysts have mixed opinions about Wendy's stock, with a majority giving it a hold rating and an average price target of $14.81.

Federated Hermes Inc. raised its position in shares of The Wendy's Company (NASDAQ:WEN - Free Report) by 32.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 624,689 shares of the restaurant operator's stock after buying an additional 152,433 shares during the quarter. Federated Hermes Inc. owned 0.33% of Wendy's worth $9,139,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Cubist Systematic Strategies LLC boosted its holdings in shares of Wendy's by 3,249.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 1,568,348 shares of the restaurant operator's stock worth $25,564,000 after purchasing an additional 1,521,527 shares during the period. Invesco Ltd. lifted its position in Wendy's by 296.1% in the 4th quarter. Invesco Ltd. now owns 1,882,829 shares of the restaurant operator's stock worth $30,690,000 after buying an additional 1,407,503 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Wendy's by 84,261.8% during the 1st quarter. Sound Income Strategies LLC now owns 596,438 shares of the restaurant operator's stock valued at $8,726,000 after buying an additional 595,731 shares during the period. ExodusPoint Capital Management LP purchased a new position in shares of Wendy's during the 4th quarter valued at $8,031,000. Finally, Northern Trust Corp increased its stake in shares of Wendy's by 24.3% in the fourth quarter. Northern Trust Corp now owns 1,575,420 shares of the restaurant operator's stock worth $25,679,000 after acquiring an additional 308,142 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Wendy's Price Performance

NASDAQ WEN opened at $9.96 on Friday. The stock has a 50-day simple moving average of $11.21 and a 200 day simple moving average of $12.99. The Wendy's Company has a twelve month low of $9.76 and a twelve month high of $20.60. The stock has a market capitalization of $1.91 billion, a PE ratio of 10.60, a P/E/G ratio of 2.02 and a beta of 0.31. The company has a debt-to-equity ratio of 24.88, a quick ratio of 1.47 and a current ratio of 1.49.

Wendy's (NASDAQ:WEN - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The restaurant operator reported $0.20 EPS for the quarter, hitting analysts' consensus estimates of $0.20. The company had revenue of $523.47 million during the quarter, compared to analyst estimates of $530.11 million. Wendy's had a return on equity of 85.36% and a net margin of 8.57%. The company's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. Research analysts anticipate that The Wendy's Company will post 0.99 EPS for the current year.

Insider Buying and Selling at Wendy's

In related news, CMO Lindsay J. Radkoski bought 5,050 shares of Wendy's stock in a transaction that occurred on Tuesday, June 3rd. The stock was acquired at an average price of $11.68 per share, for a total transaction of $58,984.00. Following the completion of the purchase, the chief marketing officer owned 28,956 shares in the company, valued at approximately $338,206.08. This represents a 21.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,752,651.39. Following the sale, the insider directly owned 203,005 shares in the company, valued at approximately $2,600,494.05. This trade represents a 40.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WEN. Morgan Stanley reduced their price objective on Wendy's from $13.00 to $11.00 and set an "underweight" rating for the company in a research report on Monday, July 14th. Guggenheim lowered Wendy's from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Citigroup reaffirmed a "neutral" rating and set a $11.50 price objective (down previously from $13.75) on shares of Wendy's in a research report on Monday, July 28th. Sanford C. Bernstein set a $13.00 target price on shares of Wendy's in a research report on Monday, May 5th. Finally, TD Securities dropped their price target on shares of Wendy's from $14.00 to $13.00 and set a "hold" rating on the stock in a research note on Friday, May 2nd. 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $14.81.

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.

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