Point72 Asset Management L.P. Sells 3,481,441 Shares of The Wendy's Company (NASDAQ:WEN)

Point72 Asset Management L.P. cut its position in shares of The Wendy's Company (NASDAQ:WEN - Free Report) by 54.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,959,439 shares of the restaurant operator's stock after selling 3,481,441 shares during the quarter. Point72 Asset Management L.P. owned about 1.45% of Wendy's worth $48,239,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of WEN. Franklin Resources Inc. bought a new position in Wendy's in the third quarter worth approximately $763,000. Miracle Mile Advisors LLC bought a new stake in shares of Wendy's during the 4th quarter worth $357,000. Oak Thistle LLC bought a new position in shares of Wendy's during the 4th quarter valued at approximately $516,000. Assenagon Asset Management S.A. purchased a new stake in Wendy's in the fourth quarter worth $13,358,000. Finally, Merit Financial Group LLC bought a new stake in Wendy's in the 4th quarter valued at about $464,000. Institutional investors own 85.96% of the company's stock.

Insider Activity

In other news, insider Abigail E. Pringle sold 136,819 shares of the firm'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 transaction, the insider now 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.00% of the company's stock.

Wendy's Stock Up 0.7%

WEN traded up $0.08 during midday trading on Monday, reaching $12.34. The company's stock had a trading volume of 3,738,507 shares, compared to its average volume of 4,284,649. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 2.00 and a beta of 0.40. The stock's 50-day moving average is $13.39 and its 200-day moving average is $15.31. The Wendy's Company has a 1 year low of $11.70 and a 1 year high of $20.60.

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

Wendy's Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 4.54%. Wendy's's dividend payout ratio is presently 59.57%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WEN. Guggenheim cut Wendy's from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. The Goldman Sachs Group lowered their price target on Wendy's from $17.00 to $15.00 and set a "sell" rating on the stock in a research report on Thursday, February 6th. TD Securities reduced their price objective on Wendy's from $14.00 to $13.00 and set a "hold" rating on the stock in a research note on Friday, May 2nd. Sanford C. Bernstein set a $13.00 price target on shares of Wendy's in a report on Monday, May 5th. Finally, Loop Capital cut their price objective on Wendy's from $26.00 to $21.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Two equities research 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 company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $16.34.

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.