The Wendy’s Company (NASDAQ:WEN) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its holdings in shares of The Wendy’s Company (NASDAQ:WEN) by 21.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,941 shares of the restaurant operator’s stock after purchasing an additional 7,685 shares during the period. Exchange Traded Concepts LLC’s holdings in Wendy’s were worth $752,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WEN. CWM LLC increased its holdings in shares of Wendy’s by 15.6% during the first quarter. CWM LLC now owns 11,993 shares of the restaurant operator’s stock valued at $226,000 after purchasing an additional 1,621 shares during the period. Mather Group LLC. acquired a new position in Wendy’s during the first quarter worth about $44,000. Fort Pitt Capital Group LLC grew its holdings in Wendy’s by 15.5% during the first quarter. Fort Pitt Capital Group LLC now owns 199,981 shares of the restaurant operator’s stock worth $3,768,000 after acquiring an additional 26,889 shares during the period. Hexagon Capital Partners LLC grew its holdings in Wendy’s by 44.5% during the first quarter. Hexagon Capital Partners LLC now owns 4,108 shares of the restaurant operator’s stock worth $77,000 after acquiring an additional 1,265 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Wendy’s by 2.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,344,118 shares of the restaurant operator’s stock worth $100,683,000 after acquiring an additional 111,626 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of Wendy’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $17.18, for a total value of $17,180,000.00. Following the transaction, the director now directly owns 14,943,466 shares of the company’s stock, valued at $256,728,745.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WEN. Loop Capital reaffirmed a “buy” rating and set a $26.00 target price on shares of Wendy’s in a report on Monday, July 15th. Tigress Financial reiterated a “buy” rating and issued a $29.00 price target on shares of Wendy’s in a research report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on Wendy’s from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Stifel Nicolaus decreased their price target on Wendy’s from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, Piper Sandler decreased their price objective 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. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.22.

Wendy’s Stock Up 0.1 %

WEN opened at $19.70 on Friday. The business has a 50-day moving average of $17.49 and a 200-day moving average of $17.65. The company has a debt-to-equity ratio of 12.01, a current ratio of 2.17 and a quick ratio of 2.15. The Wendy’s Company has a fifty-two week low of $15.61 and a fifty-two week high of $20.65. The company has a market capitalization of $4.04 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.32 and a beta of 0.80.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings data 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 net margin of 9.18% and a return on equity of 67.74%. The company had revenue of $570.73 million during the quarter, compared to the consensus estimate of $577.15 million. During the same period in the previous year, the business posted $0.28 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Equities research analysts forecast that The Wendy’s Company will post 0.98 EPS for the current fiscal year.

Wendy’s Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date was Tuesday, September 3rd. Wendy’s’s payout ratio is 101.01%.

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.