GAMMA Investing LLC Boosts Stake in The Wendy’s Company (NASDAQ:WEN)

GAMMA Investing LLC increased its stake in shares of The Wendy’s Company (NASDAQ:WEN) by 2,695.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,412 shares of the restaurant operator’s stock after purchasing an additional 60,179 shares during the period. GAMMA Investing LLC’s holdings in Wendy’s were worth $913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new stake in shares of Wendy’s during the 4th quarter worth approximately $30,000. Colonial Trust Co SC purchased a new position in Wendy’s in the 4th quarter valued at approximately $31,000. Hillsdale Investment Management Inc. purchased a new position in Wendy’s in the 4th quarter valued at approximately $46,000. New Age Alpha Advisors LLC purchased a new stake in shares of Wendy’s during the 4th quarter worth $67,000. Finally, Transcendent Capital Group LLC lifted 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 worth $79,000 after purchasing an additional 4,669 shares during the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wendy’s Stock Up 0.4%

WEN opened at $11.22 on Tuesday. The Wendy’s Company has a twelve month low of $10.91 and a twelve month high of $20.60. The firm’s 50-day simple moving average is $12.11 and its 200-day simple moving average is $14.25. 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 firm has a market cap of $2.15 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.00 and a beta of 0.34.

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

Wendy’s Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.56 annualized dividend and a yield of 4.99%. Wendy’s’s dividend payout ratio is 59.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WEN shares. Wedbush reissued a “neutral” rating and issued a $16.00 price target on shares of Wendy’s in a research report on Friday, March 7th. Truist Financial reduced their target price on shares of Wendy’s from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, May 5th. Loop Capital dropped their price target on shares of Wendy’s from $26.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. TD Securities lowered their target price on shares of Wendy’s from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, May 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $17.00 target price on shares of Wendy’s in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.34.

Insider Transactions at Wendy’s

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

About Wendy’s

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.