The Wendy’s Company (NASDAQ:WEN) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of The Wendy’s Company (NASDAQ:WEN) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,745,202 shares of the restaurant operator’s stock after purchasing an additional 102,512 shares during the quarter. Bank of New York Mellon Corp owned 1.34% of Wendy’s worth $46,559,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Salomon & Ludwin LLC grew its position in shares of Wendy’s by 378.0% in the 1st quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 1,240 shares in the last quarter. Quarry LP acquired a new position in shares of Wendy’s in the 4th quarter worth approximately $34,000. Bessemer Group Inc. grew its position in shares of Wendy’s by 483.2% in the 1st quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock worth $35,000 after acquiring an additional 1,551 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Wendy’s by 145.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,116 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 1,255 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Wendy’s in the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WEN. Wedbush reiterated a “neutral” rating and issued a $19.50 target price on shares of Wendy’s in a research report on Thursday, August 1st. Truist Financial reduced their price objective on Wendy’s from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Loop Capital restated a “buy” rating and set a $26.00 price objective on shares of Wendy’s in a research report on Monday, July 15th. Piper Sandler reduced their price objective on Wendy’s from $23.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, TD Cowen reduced their price objective on Wendy’s from $19.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.13.

Wendy’s Stock Up 1.6 %

WEN opened at $16.92 on Monday. The Wendy’s Company has a one year low of $15.61 and a one year high of $20.84. The company has a debt-to-equity ratio of 12.01, a quick ratio of 2.15 and a current ratio of 2.17. The stock’s fifty day moving average is $16.88 and its 200-day moving average is $17.80. The company has a market capitalization of $3.44 billion, a PE ratio of 17.09, a P/E/G ratio of 2.23 and a beta of 0.76.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Thursday, August 1st. The restaurant operator reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. The firm had revenue of $570.73 million during the quarter, compared to the consensus estimate of $577.15 million. During the same period in the prior year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts predict that The Wendy’s Company will post 0.98 EPS for the current fiscal year.

Wendy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend is Tuesday, September 3rd. Wendy’s’s dividend payout ratio is presently 101.01%.

Insider Transactions at Wendy’s

In other news, Director Matthew H. Peltz sold 1,000,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $17.18, for a total transaction of $17,180,000.00. Following the sale, the director now directly owns 14,943,466 shares of the company’s stock, valued at $256,728,745.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.10% 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.