The Wendy's Company (NASDAQ:WEN) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. decreased its stake in shares of The Wendy's Company (NASDAQ:WEN - Free Report) by 54.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 quarter.

Several other institutional investors also recently bought and sold shares of WEN. Pacer Advisors Inc. increased its position in Wendy's by 2.9% in the fourth quarter. Pacer Advisors Inc. now owns 25,529 shares of the restaurant operator's stock worth $416,000 after purchasing an additional 717 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Wendy's by 1.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 57,400 shares of the restaurant operator's stock worth $979,000 after buying an additional 797 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Wendy's by 6.1% in the 4th quarter. Natixis Advisors LLC now owns 15,634 shares of the restaurant operator's stock worth $255,000 after buying an additional 897 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Wendy's by 46.4% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 3,107 shares of the restaurant operator's stock worth $51,000 after buying an additional 985 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its position in shares of Wendy's by 9.9% during the 4th quarter. Ausdal Financial Partners Inc. now owns 11,232 shares of the restaurant operator's stock valued at $183,000 after buying an additional 1,008 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.

Wendy's Stock Down 4.6%

Shares of WEN traded down $0.57 during midday trading on Wednesday, reaching $11.69. 2,462,011 shares of the stock were exchanged, compared to its average volume of 4,272,516. The company has a market capitalization of $2.24 billion, a P/E ratio of 12.30, a PEG ratio of 2.00 and a beta of 0.40. 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 Wendy's Company has a 52 week low of $11.69 and a 52 week high of $20.60. The company's 50 day moving average is $13.27 and its two-hundred day moving average is $15.24.

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

Wendy's Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Monday, June 2nd. Wendy's's dividend payout ratio (DPR) is 59.57%.

Insiders Place Their Bets

In other Wendy's news, insider Abigail E. Pringle sold 136,819 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $12.81, for a total value of $1,752,651.39. Following the completion of the transaction, the insider now directly owns 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 document filed with the SEC, which can be accessed through the SEC website. 17.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank of Canada reissued a "sector perform" rating and set a $17.00 price objective on shares of Wendy's in a research note on Tuesday, March 4th. Truist Financial cut their target price on Wendy's from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. UBS Group decreased their price target on Wendy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Sanford C. Bernstein set a $13.00 price objective on shares of Wendy's in a research note on Monday, May 5th. Finally, Loop Capital cut their price objective on shares of 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 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $16.34.

Wendy's Company 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.