Oppenheimer & Co. Inc. Sells 1,046 Shares of The Wendy’s Company (NASDAQ:WEN)

Oppenheimer & Co. Inc. lowered its stake in The Wendy’s Company (NASDAQ:WEN) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,632 shares of the restaurant operator’s stock after selling 1,046 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Wendy’s were worth $297,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Ahrens Investment Partners LLC bought a new stake in shares of Wendy’s during the 1st quarter valued at about $27,000. Money Concepts Capital Corp raised its holdings in shares of Wendy’s by 31,560.0% during the 4th quarter. Money Concepts Capital Corp now owns 1,583 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 1,578 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Wendy’s by 74.5% during the 1st quarter. Fifth Third Bancorp now owns 2,035 shares of the restaurant operator’s stock valued at $44,000 after buying an additional 869 shares in the last quarter. CoreCap Advisors LLC purchased a new position in shares of Wendy’s during the 4th quarter valued at about $50,000. Finally, Quantbot Technologies LP purchased a new position in shares of Wendy’s during the 2nd quarter valued at about $41,000. Institutional investors own 77.54% of the company’s stock.

Wall Street Analysts Forecast Growth

WEN has been the topic of a number of research reports. BMO Capital Markets raised their price objective on Wendy’s from $23.00 to $24.00 in a report on Thursday, May 11th. StockNews.com initiated coverage on Wendy’s in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. TD Cowen reaffirmed a “market perform” rating and issued a $22.00 price target on shares of Wendy’s in a research note on Thursday, August 10th. Argus raised Wendy’s from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Friday, May 19th. Finally, Truist Financial decreased their price target on Wendy’s from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, July 18th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Wendy’s presently has an average rating of “Hold” and an average target price of $25.28.

Wendy’s Trading Down 0.1 %

NASDAQ WEN opened at $20.27 on Thursday. The company has a quick ratio of 2.46, a current ratio of 2.48 and a debt-to-equity ratio of 8.56. The Wendy’s Company has a twelve month low of $18.50 and a twelve month high of $23.90. The firm has a market capitalization of $4.24 billion, a PE ratio of 22.52, a P/E/G ratio of 2.05 and a beta of 0.90. The stock’s 50 day moving average is $21.29 and its 200 day moving average is $21.82.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. Wendy’s had a return on equity of 47.23% and a net margin of 8.86%. The company had revenue of $561.57 million for the quarter, compared to analyst estimates of $566.24 million. During the same period in the previous year, the company posted $0.24 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. Research analysts forecast that The Wendy’s Company will post 0.98 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.93%. The ex-dividend date is Thursday, August 31st. Wendy’s’s dividend payout ratio (DPR) is 111.11%.

Insiders Place Their Bets

In other news, Director Matthew H. Peltz sold 2,905,569 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $20.30, for a total transaction of $58,983,050.70. Following the transaction, the director now directly owns 17,827,059 shares of the company’s stock, valued at $361,889,297.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Matthew H. Peltz sold 2,905,569 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $20.30, for a total transaction of $58,983,050.70. Following the transaction, the director now directly owns 17,827,059 shares of the company’s stock, valued at $361,889,297.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew H. Peltz sold 443,725 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $22.76, for a total value of $10,099,181.00. Following the transaction, the director now directly owns 20,732,628 shares in the company, valued at $471,874,613.28. The disclosure for this sale can be found here. Corporate insiders own 20.10% of the company’s stock.

Wendy’s Company Profile

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.