Bank of New York Mellon Corp Purchases 102,512 Shares of The Wendy’s Company (NASDAQ:WEN)

Bank of New York Mellon Corp grew its position in The Wendy’s Company (NASDAQ:WEN) by 3.9% during the second quarter, HoldingsChannel.com reports. The firm owned 2,745,202 shares of the restaurant operator’s stock after buying an additional 102,512 shares during the quarter. Bank of New York Mellon Corp’s holdings in Wendy’s were worth $46,559,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. My Legacy Advisors LLC acquired a new stake in shares of Wendy’s in the second quarter valued at about $296,000. Pallas Capital Advisors LLC acquired a new stake in shares of Wendy’s in the second quarter valued at about $702,000. Neo Ivy Capital Management acquired a new stake in shares of Wendy’s in the second quarter valued at about $2,888,000. Assenagon Asset Management S.A. acquired a new stake in shares of Wendy’s in the second quarter valued at about $17,094,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in Wendy’s by 52.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 40,044 shares of the restaurant operator’s stock worth $679,000 after buying an additional 13,703 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

Wendy’s Trading Up 1.6 %

Shares of WEN stock opened at $16.92 on Monday. 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 stock has a market cap of $3.44 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 2.23 and a beta of 0.76. The stock has a 50 day simple moving average of $16.88 and a 200 day simple moving average of $17.80. The Wendy’s Company has a 1 year low of $15.61 and a 1 year high of $20.84.

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

Wendy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.91%. The ex-dividend date is Tuesday, September 3rd. Wendy’s’s dividend payout ratio (DPR) is currently 101.01%.

Insider Activity at Wendy’s

In related news, Director Matthew H. Peltz sold 1,000,000 shares of the business’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 completion of the sale, the director now directly owns 14,943,466 shares in the company, valued at $256,728,745.88. The sale was disclosed in a filing with the SEC, which is available at this link. 17.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Truist Financial lowered their price target on Wendy’s from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. The Goldman Sachs Group assumed coverage on Wendy’s in a research report on Thursday, June 13th. They set a “sell” rating and a $16.00 price target on the stock. Morgan Stanley lowered their price target on Wendy’s from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Piper Sandler lowered their price target on Wendy’s from $23.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Loop Capital reissued a “buy” rating and set a $26.00 price target on shares of Wendy’s in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.13.

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.