Granite Bay Wealth Management LLC Invests $1.72 Million in The Wendy’s Company (NASDAQ:WEN)

Granite Bay Wealth Management LLC acquired a new stake in shares of The Wendy’s Company (NASDAQ:WEN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 94,500 shares of the restaurant operator’s stock, valued at approximately $1,718,000.

Other institutional investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC increased its position 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 worth $30,000 after purchasing an additional 1,240 shares in the last quarter. Quarry LP acquired a new position in Wendy’s during the 4th quarter valued at about $34,000. Bessemer Group Inc. raised its stake in Wendy’s by 483.2% in the first quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock valued at $35,000 after buying an additional 1,551 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Wendy’s in the second quarter worth about $33,000. Finally, Mather Group LLC. purchased a new stake in shares of Wendy’s during the first quarter worth about $44,000. Institutional investors own 85.96% of the company’s stock.

Wendy’s Stock Down 1.5 %

WEN opened at $17.52 on Tuesday. The company has a fifty day moving average of $17.08 and a two-hundred day moving average of $17.65. 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 Wendy’s Company has a fifty-two week low of $15.61 and a fifty-two week high of $20.65. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.33 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. The business had revenue of $570.73 million during the quarter, compared to analyst estimates of $577.15 million. During the same period in the previous year, the company posted $0.28 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts expect that The Wendy’s Company will post 0.98 earnings per share for the current year.

Wendy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend was Tuesday, September 3rd. Wendy’s’s dividend payout ratio is presently 101.01%.

Insider Buying and Selling at Wendy’s

In other news, Director Matthew H. Peltz sold 1,000,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 14,943,466 shares of the company’s stock, valued at $256,728,745.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Loop Capital reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Wendy’s in a research report on Monday, July 15th. JPMorgan Chase & Co. raised their price target on shares of Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. BMO Capital Markets dropped their price objective on shares of Wendy’s from $22.00 to $19.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Piper Sandler reduced their target price on Wendy’s from $23.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Wendy’s from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wendy’s presently has an average rating of “Hold” and an average price target of $20.24.

Wendy’s Profile

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.