Park Avenue Securities LLC Has $316,000 Stock Position in The Wendy’s Company (NASDAQ:WEN)

Park Avenue Securities LLC increased its stake in The Wendy’s Company (NASDAQ:WEN) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,576 shares of the restaurant operator’s stock after acquiring an additional 1,328 shares during the quarter. Park Avenue Securities LLC’s holdings in Wendy’s were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WEN. SBI Securities Co. Ltd. acquired a new position in shares of Wendy’s during the fourth quarter worth approximately $30,000. Colonial Trust Co SC bought a new position in Wendy’s in the 4th quarter worth about $31,000. Hillsdale Investment Management Inc. bought a new position in Wendy’s in the 4th quarter worth about $46,000. New Age Alpha Advisors LLC bought a new stake in shares of Wendy’s during the 4th quarter valued at about $67,000. Finally, Transcendent Capital Group LLC boosted its position in shares of Wendy’s by 2,334.5% during the 4th quarter. Transcendent Capital Group LLC now owns 4,869 shares of the restaurant operator’s stock valued at $79,000 after acquiring an additional 4,669 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Wendy’s Price Performance

WEN opened at $11.18 on Monday. The company has a debt-to-equity ratio of 12.48, a quick ratio of 1.83 and a current ratio of 1.85. The Wendy’s Company has a 52-week low of $10.98 and a 52-week high of $20.60. The stock has a market capitalization of $2.15 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 2.00 and a beta of 0.34. The stock’s 50 day moving average price is $12.13 and its 200-day moving average price is $14.30.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. Wendy’s had a return on equity of 75.56% and a net margin of 8.65%. The company had revenue of $523.47 million for the quarter, compared to analyst estimates of $530.11 million. During the same period in the previous year, the company posted $0.23 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. On average, equities research analysts predict that The Wendy’s Company will post 0.99 EPS for the current year.

Wendy’s Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.01%. The ex-dividend date is Monday, June 2nd. Wendy’s’s dividend payout ratio (DPR) is 59.57%.

Analyst Upgrades and Downgrades

WEN has been the topic of a number of research reports. Loop Capital decreased their price objective on Wendy’s from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Wedbush reissued a “neutral” rating and set a $16.00 price objective on shares of Wendy’s in a report on Friday, March 7th. Sanford C. Bernstein set a $13.00 price objective on Wendy’s in a report on Monday, May 5th. JPMorgan Chase & Co. raised Wendy’s from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $17.00 to $15.00 in a report on Monday, May 5th. Finally, BMO Capital Markets decreased their price objective on Wendy’s from $17.00 to $15.00 and set a “market perform” rating on the stock in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.34.

Insiders Place Their Bets

In related news, insider Abigail E. Pringle sold 136,819 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $12.81, for a total transaction of $1,752,651.39. Following the completion of the sale, the insider now owns 203,005 shares in the company, valued at approximately $2,600,494.05. This represents a 40.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Lindsay J. Radkoski acquired 5,050 shares of Wendy’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were purchased at an average price of $11.68 per share, with a total value of $58,984.00. Following the transaction, the chief marketing officer now owns 28,956 shares of the company’s stock, valued at $338,206.08. The trade was a 21.12% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 17.00% of the company’s stock.

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.