The Wendy’s Company (NASDAQ:WEN) Stock Holdings Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in shares of The Wendy’s Company (NASDAQ:WEN) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,124 shares of the restaurant operator’s stock after selling 2,326 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Wendy’s were worth $1,289,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC bought a new stake in shares of Wendy’s in the first quarter valued at about $388,000. Alps Advisors Inc. increased its holdings in shares of Wendy’s by 7.8% in the first quarter. Alps Advisors Inc. now owns 372,027 shares of the restaurant operator’s stock valued at $5,443,000 after purchasing an additional 26,761 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Wendy’s by 22.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 7,223 shares of the restaurant operator’s stock valued at $105,000 after purchasing an additional 1,303 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new stake in shares of Wendy’s in the first quarter valued at approximately $211,000. Finally, M&T Bank Corp increased its holdings in shares of Wendy’s by 49.1% in the first quarter. M&T Bank Corp now owns 15,677 shares of the restaurant operator’s stock valued at $229,000 after purchasing an additional 5,163 shares in the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Abigail E. Pringle sold 136,819 shares of the business’s stock in a transaction that occurred on 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 directly owned 203,005 shares in the company, valued at approximately $2,600,494.05. The trade was a 40.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Lindsay J. Radkoski acquired 5,050 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was bought at an average price of $11.68 per share, with a total value of $58,984.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Insiders own 17.00% of the company’s stock.

Wendy’s Stock Down 0.9%

Shares of NASDAQ WEN opened at $10.47 on Monday. The firm has a market cap of $2.01 billion, a PE ratio of 11.14, a P/E/G ratio of 1.68 and a beta of 0.34. The Wendy’s Company has a 12-month low of $10.33 and a 12-month high of $20.60. The company’s fifty day simple moving average is $11.51 and its 200 day simple moving average is $13.31. 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 released its quarterly earnings data on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. Wendy’s had a net margin of 8.57% and a return on equity of 85.36%. The firm had revenue of $523.47 million for the quarter, compared to analyst estimates of $530.11 million. During the same period last year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, sell-side 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 was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 5.35%. Wendy’s’s dividend payout ratio is presently 59.57%.

Analyst Ratings Changes

A number of brokerages have issued reports on WEN. Bank of America reduced their price objective on shares of Wendy’s from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. upgraded shares of Wendy’s from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $17.00 to $15.00 in a research note on Monday, May 5th. Wall Street Zen upgraded shares of Wendy’s from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Truist Financial decreased their price target on shares of Wendy’s from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, July 9th. Finally, TD Securities cut their price objective on shares of Wendy’s from $14.00 to $13.00 and set a “hold” rating for the company in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.63.

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.