The Wendy's Company (NASDAQ:WEN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of The Wendy's Company (NASDAQ:WEN - Free Report) by 14.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,991 shares of the restaurant operator's stock after selling 31,600 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Wendy's worth $2,721,000 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 business. KBC Group NV increased its position in shares of Wendy's by 41.9% during the 1st quarter. KBC Group NV now owns 8,657 shares of the restaurant operator's stock worth $127,000 after purchasing an additional 2,555 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Wendy's by 12.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,538 shares of the restaurant operator's stock worth $2,041,000 after purchasing an additional 15,970 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Wendy's during the 1st quarter worth about $161,000. Advisor Resource Council acquired a new stake in shares of Wendy's during the 1st quarter worth about $280,000. Finally, Western Pacific Wealth Management LP increased its position in shares of Wendy's by 38.4% during the 1st quarter. Western Pacific Wealth Management LP now owns 13,055 shares of the restaurant operator's stock worth $191,000 after purchasing an additional 3,620 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Wendy's Stock Down 0.1%

WEN stock traded down $0.01 during trading on Tuesday, hitting $11.29. 9,510,249 shares of the company's stock were exchanged, compared to its average volume of 4,630,380. The business has a 50-day moving average price of $11.76 and a two-hundred day moving average price of $13.66. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.80 and a beta of 0.34. The Wendy's Company has a 52-week low of $10.91 and a 52-week high of $20.60. The company has a current ratio of 1.49, a quick ratio of 1.47 and a debt-to-equity ratio of 24.88.

Wendy's (NASDAQ:WEN - Get Free Report) last posted its earnings results on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The firm 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 85.36% and a net margin of 8.57%. The firm's revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. As a group, equities research analysts expect that The Wendy's Company will post 0.99 EPS for the current year.

Wendy's Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Monday, June 2nd. Wendy's's dividend payout ratio is currently 59.57%.

Insider Buying and Selling

In other Wendy's news, insider Abigail E. Pringle sold 136,819 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider owned 203,005 shares in the company, valued at approximately $2,600,494.05. The trade was a 40.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Lindsay J. Radkoski acquired 5,050 shares of Wendy's stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average price of $11.68 per share, with a total value of $58,984.00. Following the purchase, the chief marketing officer owned 28,956 shares of the company's stock, valued at $338,206.08. The trade was a 21.12% increase in their position. The disclosure for this purchase can be found here. 17.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WEN has been the subject of a number of recent analyst reports. Loop Capital cut their price objective 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. Truist Financial dropped their target price on Wendy's from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Morgan Stanley dropped their target price on Wendy's from $14.00 to $13.00 and set an "underweight" rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. raised Wendy's from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $17.00 to $15.00 in a research report on Monday, May 5th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $14.00 target price on shares of Wendy's in a research report on Tuesday, June 17th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $16.34.

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.