Frank Rimerman Advisors LLC Takes Position in The Wendy’s Company (NASDAQ:WEN)

Frank Rimerman Advisors LLC purchased a new position in The Wendy’s Company (NASDAQ:WEN) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 27,156 shares of the restaurant operator’s stock, valued at approximately $461,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC raised its holdings in shares of Wendy’s by 378.0% during the first quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 1,240 shares during the last quarter. Quarry LP purchased a new stake in shares of Wendy’s during the fourth quarter worth approximately $34,000. Bessemer Group Inc. raised its stake in Wendy’s by 483.2% in the 1st quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 1,551 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Wendy’s in the 2nd quarter valued at $33,000. Finally, Quadrant Capital Group LLC boosted its stake in Wendy’s by 145.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,116 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 1,255 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Wendy’s in a research report on Thursday, June 13th. They issued a “sell” rating and a $16.00 target price for the company. Truist Financial decreased their target price on shares of Wendy’s from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Piper Sandler dropped their price target on Wendy’s from $23.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Wolfe Research upgraded Wendy’s to a “strong-buy” rating in a research report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Wendy’s from $20.00 to $18.00 and set a “hold” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wendy’s currently has a consensus rating of “Hold” and an average target price of $20.24.

Wendy’s Stock Performance

NASDAQ:WEN opened at $17.58 on Wednesday. The Wendy’s Company has a fifty-two week low of $15.61 and a fifty-two week high of $20.84. The company has a debt-to-equity ratio of 12.01, a quick ratio of 2.15 and a current ratio of 2.17. The company has a 50 day moving average price of $17.09 and a 200 day moving average price of $17.67. The stock has a market capitalization of $3.61 billion, a P/E ratio of 17.76, a PEG ratio of 2.22 and a beta of 0.80.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Thursday, August 1st. The restaurant operator reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $570.73 million for the quarter, compared to analysts’ expectations of $577.15 million. Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Equities research analysts forecast that The Wendy’s Company will post 0.98 EPS for the current year.

Wendy’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 5.69%. Wendy’s’s dividend payout ratio is presently 101.01%.

Insider Activity

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $17.18, for a total transaction of $17,180,000.00. Following the sale, the director now directly owns 14,943,466 shares in the company, valued at approximately $256,728,745.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 17.10% of the company’s stock.

About Wendy’s

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.