Nuveen Asset Management LLC Boosts Holdings in The Wendy’s Company (NASDAQ:WEN)

Nuveen Asset Management LLC increased its holdings in The Wendy’s Company (NASDAQ:WEN) by 46.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 801,536 shares of the restaurant operator’s stock after purchasing an additional 254,443 shares during the period. Nuveen Asset Management LLC owned approximately 0.39% of Wendy’s worth $13,065,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Wendy’s in the fourth quarter worth $1,733,000. Norges Bank bought a new stake in shares of Wendy’s in the 4th quarter valued at about $4,318,000. Raymond James Financial Inc. purchased a new stake in Wendy’s during the 4th quarter valued at about $824,000. Fox Run Management L.L.C. bought a new position in Wendy’s during the 4th quarter worth approximately $1,921,000. Finally, Lecap Asset Management Ltd. bought a new position in Wendy’s during the 4th quarter worth approximately $350,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Wall Street Analyst Weigh In

WEN has been the subject of a number of analyst reports. Morgan Stanley dropped their price objective on Wendy’s from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Monday, May 5th. Stifel Nicolaus dropped their price target on shares of Wendy’s from $16.00 to $14.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th. Truist Financial decreased their price objective on shares of Wendy’s from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. BMO Capital Markets lowered their price objective on shares of Wendy’s from $17.00 to $15.00 and set a “market perform” rating for the company in a research note on Tuesday, May 6th. Finally, Barclays cut their target price on Wendy’s from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.34.

Insider Activity at Wendy’s

In related news, insider Abigail E. Pringle sold 136,819 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $12.81, for a total transaction of $1,752,651.39. Following the sale, the insider now directly owns 203,005 shares of the company’s stock, valued at approximately $2,600,494.05. This represents a 40.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.00% of the stock is owned by corporate insiders.

Wendy’s Stock Performance

Shares of Wendy’s stock opened at $11.44 on Tuesday. The Wendy’s Company has a 12 month low of $11.24 and a 12 month high of $20.60. The firm has a market capitalization of $2.20 billion, a P/E ratio of 12.04, a P/E/G 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 business has a fifty day simple moving average of $12.96 and a two-hundred day simple moving average of $14.97.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings results on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share (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 company had revenue of $523.47 million during the quarter, compared to analysts’ expectations of $530.11 million. During the same period last year, the company posted $0.23 EPS. Wendy’s’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts forecast that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.56 annualized dividend and a dividend yield of 4.90%. Wendy’s’s payout ratio is currently 59.57%.

Wendy’s 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.