Cerity Partners LLC Reduces Position in The Wendy’s Company (NASDAQ:WEN)

Cerity Partners LLC cut its stake in shares of The Wendy’s Company (NASDAQ:WEN) by 15.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 165,488 shares of the restaurant operator’s stock after selling 29,780 shares during the period. Cerity Partners LLC’s holdings in Wendy’s were worth $2,421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Proficio Capital Partners LLC bought a new position in shares of Wendy’s in the fourth quarter worth approximately $213,000. Raymond James Financial Inc. bought a new position in shares of Wendy’s in the fourth quarter worth approximately $824,000. Natixis Advisors LLC increased its position in shares of Wendy’s by 6.1% in the fourth quarter. Natixis Advisors LLC now owns 15,634 shares of the restaurant operator’s stock worth $255,000 after purchasing an additional 897 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Wendy’s by 1.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 57,400 shares of the restaurant operator’s stock valued at $979,000 after acquiring an additional 797 shares during the last quarter. Finally, Xponance Inc. grew its position in Wendy’s by 7.9% during the fourth quarter. Xponance Inc. now owns 27,325 shares of the restaurant operator’s stock valued at $445,000 after acquiring an additional 2,004 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Wendy’s

In other news, insider Abigail E. Pringle sold 136,819 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $12.81, for a total value of $1,752,651.39. Following the completion of the sale, the insider directly owned 203,005 shares of the company’s stock, valued at approximately $2,600,494.05. The trade was a 40.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Lindsay J. Radkoski bought 5,050 shares of Wendy’s stock in a transaction dated Tuesday, June 3rd. The stock was purchased at an average cost of $11.68 per share, with a total value of $58,984.00. Following the completion of the acquisition, the chief marketing officer directly owned 28,956 shares in the company, valued at approximately $338,206.08. The trade was a 21.12% increase in their position. The disclosure for this purchase can be found here. Insiders own 17.00% of the company’s stock.

Wendy’s Stock Performance

Shares of Wendy’s stock opened at $10.47 on Friday. The Wendy’s Company has a one year low of $10.33 and a one year high of $20.60. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.67 and a beta of 0.34. The company has a debt-to-equity ratio of 24.88, a quick ratio of 1.47 and a current ratio of 1.49. The business’s 50 day moving average price is $11.51 and its 200 day moving average price is $13.33.

Wendy’s (NASDAQ:WEN) last posted its earnings results on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $523.47 million during the quarter, compared to analysts’ expectations of $530.11 million. Wendy’s had a return on equity of 85.36% and a net margin of 8.57%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. On average, research analysts predict that The Wendy’s Company will post 0.99 EPS for the current year.

Wendy’s Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.14 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.56 annualized dividend and a yield of 5.35%. Wendy’s’s payout ratio is 59.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. TD Securities reduced their price target on shares of Wendy’s from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, May 2nd. Loop Capital dropped their price objective on Wendy’s from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday. UBS Group dropped their price objective on Wendy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. BMO Capital Markets dropped their price objective on Wendy’s from $17.00 to $15.00 and set a “market perform” rating for the company in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their price objective on Wendy’s from $16.00 to $14.00 and set a “hold” rating for the company in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.63.

Wendy’s Profile

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy’s U.S., Wendy’s International, and Global Real Estate and Development. The Wendy’s U.S. segment includes the operation and franchising of Wendy’s restaurants in the U.S.