The Wendy’s Company (NASDAQ:WEN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in The Wendy’s Company (NASDAQ:WEN) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,315 shares of the restaurant operator’s stock after selling 6,926 shares during the period. Mutual of America Capital Management LLC’s holdings in Wendy’s were worth $2,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James & Associates raised its position in Wendy’s by 76.5% during the first quarter. Raymond James & Associates now owns 81,161 shares of the restaurant operator’s stock worth $1,783,000 after acquiring an additional 35,183 shares during the last quarter. American Century Companies Inc. raised its position in Wendy’s by 16.3% during the first quarter. American Century Companies Inc. now owns 25,011 shares of the restaurant operator’s stock worth $549,000 after acquiring an additional 3,498 shares during the last quarter. Cetera Advisor Networks LLC acquired a new position in Wendy’s during the first quarter worth about $215,000. Citigroup Inc. raised its position in Wendy’s by 30.1% during the first quarter. Citigroup Inc. now owns 26,257 shares of the restaurant operator’s stock worth $577,000 after acquiring an additional 6,073 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Wendy’s during the first quarter worth about $221,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wendy’s Stock Up 1.3 %

Shares of NASDAQ WEN opened at $19.25 on Friday. The Wendy’s Company has a 12-month low of $17.64 and a 12-month high of $23.90. The company has a market cap of $3.95 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.86 and a beta of 0.82. The company has a current ratio of 2.19, a quick ratio of 2.18 and a debt-to-equity ratio of 10.66. The stock has a fifty day moving average price of $18.54 and a 200 day moving average price of $18.99.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Wendy’s had a net margin of 9.37% and a return on equity of 56.24%. The company had revenue of $540.65 million during the quarter, compared to analyst estimates of $546.47 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts anticipate that The Wendy’s Company will post 0.99 EPS for the current fiscal year.

Wendy’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.00 annualized dividend and a dividend yield of 5.19%. Wendy’s’s dividend payout ratio is presently 102.04%.

Insider Activity

In other news, Director Kenneth W. Gilbert sold 4,500 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $18.07, for a total transaction of $81,315.00. Following the transaction, the director now owns 31,304 shares of the company’s stock, valued at $565,663.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WEN shares. Sanford C. Bernstein cut shares of Wendy’s from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $24.00 to $20.00 in a research report on Thursday, February 22nd. Truist Financial lowered their price target on shares of Wendy’s from $23.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Stephens began coverage on shares of Wendy’s in a report on Friday, April 12th. They set an “equal weight” rating and a $20.00 price target for the company. Wedbush lowered their price target on shares of Wendy’s from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. downgraded shares of Wendy’s from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $19.00 in a report on Wednesday, February 21st. Thirteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.47.

About Wendy’s

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.