Point72 Asia Singapore Pte. Ltd. Sells 8,945 Shares of The Wendy’s Company (NASDAQ:WEN)

Point72 Asia Singapore Pte. Ltd. trimmed its holdings in The Wendy’s Company (NASDAQ:WEN) by 85.5% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,511 shares of the restaurant operator’s stock after selling 8,945 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Wendy’s were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Salomon & Ludwin LLC increased its position in 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 about $34,000. Bessemer Group Inc. lifted its position in shares of Wendy’s by 483.2% in the first quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock worth $35,000 after buying an additional 1,551 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Wendy’s during the second quarter valued at $33,000. Finally, Mather Group LLC. bought a new stake in Wendy’s in the first quarter worth $44,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Insider Buying and Selling

In other news, Director Matthew H. Peltz sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Barclays decreased their price target on Wendy’s from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Wendy’s from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Wolfe Research raised shares of Wendy’s to a “strong-buy” rating in a research note on Friday, September 13th. Piper Sandler lowered their price objective on shares of Wendy’s from $23.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Wendy’s from $20.00 to $18.00 and set a “hold” rating on the stock 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.24.

Wendy’s Stock Performance

Shares of NASDAQ WEN opened at $17.66 on Wednesday. The company has a 50 day simple moving average of $17.09 and a two-hundred day simple moving average of $17.64. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.33 and a beta of 0.80. The company has a current ratio of 2.17, a quick ratio of 2.15 and a debt-to-equity ratio of 12.01. The Wendy’s Company has a 12 month low of $15.61 and a 12 month high of $20.65.

Wendy’s (NASDAQ:WEN) last issued its earnings results on Thursday, August 1st. The restaurant operator reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $570.73 million during 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 firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. As a group, analysts predict that The Wendy’s Company will post 0.98 earnings per share for the current year.

Wendy’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.66%. The ex-dividend date was Tuesday, September 3rd. Wendy’s’s dividend payout ratio is currently 101.01%.

Wendy’s Company 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.