Teacher Retirement System of Texas Grows Holdings in The Wendy’s Company (NASDAQ:WEN)

Teacher Retirement System of Texas increased its position in The Wendy’s Company (NASDAQ:WEN) by 7.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,823 shares of the restaurant operator’s stock after purchasing an additional 1,974 shares during the period. Teacher Retirement System of Texas’ holdings in Wendy’s were worth $436,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FSM Wealth Advisors LLC lifted its stake in shares of Wendy’s by 5.5% in the 1st quarter. FSM Wealth Advisors LLC now owns 16,207 shares of the restaurant operator’s stock worth $237,000 after purchasing an additional 842 shares during the period. Summit Trail Advisors LLC increased its holdings in Wendy’s by 110.5% in the 1st quarter. Summit Trail Advisors LLC now owns 39,444 shares of the restaurant operator’s stock worth $577,000 after acquiring an additional 20,704 shares in the last quarter. KBC Group NV grew its holdings in Wendy’s by 41.9% during the 1st quarter. KBC Group NV now owns 8,657 shares of the restaurant operator’s stock valued at $127,000 after buying an additional 2,555 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Wendy’s by 12.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,538 shares of the restaurant operator’s stock valued at $2,041,000 after buying an additional 15,970 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Wendy’s during the 1st quarter valued at approximately $161,000. Institutional investors own 85.96% of the company’s stock.

Insiders Place Their Bets

In other Wendy’s news, CMO Lindsay J. Radkoski bought 5,050 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was acquired at an average price of $11.68 per share, with a total value of $58,984.00. Following the completion of the transaction, the chief marketing officer directly owned 28,956 shares in the company, valued at approximately $338,206.08. This represents a 21.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Abigail E. Pringle sold 136,819 shares of the stock in a transaction dated Monday, May 5th. The stock was 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 directly owned 203,005 shares of the company’s stock, valued at approximately $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. Insiders own 17.00% of the company’s stock.

Wendy’s Trading Up 1.1%

NASDAQ:WEN opened at $10.57 on Friday. The stock’s 50 day moving average price is $11.54 and its 200 day moving average price is $13.39. The Wendy’s Company has a 52-week low of $10.33 and a 52-week high of $20.60. The company has a market capitalization of $2.03 billion, a PE ratio of 11.24, a P/E/G ratio of 1.62 and a beta of 0.34. The company has a quick ratio of 1.47, a current ratio of 1.49 and a debt-to-equity ratio of 24.88.

Wendy’s (NASDAQ:WEN) last posted 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 firm had revenue of $523.47 million for the quarter, compared to the consensus estimate of $530.11 million. Wendy’s had a return on equity of 85.36% and a net margin of 8.57%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. On average, research analysts anticipate 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 was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend was Monday, June 2nd. Wendy’s’s payout ratio is 59.57%.

Analyst Ratings Changes

WEN has been the subject of several research analyst reports. Truist Financial decreased their target price on Wendy’s from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, July 9th. Wall Street Zen upgraded Wendy’s from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. upgraded Wendy’s from a “neutral” rating to an “overweight” rating and cut their target price for the company from $17.00 to $15.00 in a research note on Monday, May 5th. TD Securities dropped their price target on Wendy’s from $14.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, May 2nd. Finally, UBS Group decreased their target price on Wendy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Wendy’s presently has a consensus rating of “Hold” and a consensus price target of $15.87.

Wendy’s Company 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.