Chicago Partners Investment Group LLC Sells 5,119 Shares of The Wendy’s Company (NASDAQ:WEN)

Chicago Partners Investment Group LLC decreased its holdings in The Wendy’s Company (NASDAQ:WEN) by 28.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 12,844 shares of the restaurant operator’s stock after selling 5,119 shares during the period. Chicago Partners Investment Group LLC’s holdings in Wendy’s were worth $188,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Wendy’s by 5.9% during the first quarter. Bank of New York Mellon Corp now owns 2,577,359 shares of the restaurant operator’s stock valued at $37,707,000 after acquiring an additional 142,500 shares during the last quarter. CWM LLC boosted its position in Wendy’s by 22.6% during the first quarter. CWM LLC now owns 200,375 shares of the restaurant operator’s stock valued at $2,931,000 after acquiring an additional 36,954 shares during the last quarter. XTX Topco Ltd bought a new stake in Wendy’s during the first quarter valued at $1,084,000. Sivia Capital Partners LLC bought a new stake in Wendy’s during the first quarter valued at $326,000. Finally, Sound Income Strategies LLC boosted its position in Wendy’s by 84,261.8% during the first quarter. Sound Income Strategies LLC now owns 596,438 shares of the restaurant operator’s stock valued at $8,726,000 after acquiring an additional 595,731 shares during the last quarter. Institutional investors own 85.96% of the company’s stock.

Wendy’s Trading Down 1.8%

NASDAQ:WEN opened at $10.11 on Wednesday. The company has a debt-to-equity ratio of 28.74, a quick ratio of 1.43 and a current ratio of 1.45. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 2.25 and a beta of 0.31. The Wendy’s Company has a 52 week low of $9.74 and a 52 week high of $20.60. The firm has a 50-day moving average price of $11.02 and a two-hundred day moving average price of $12.77.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Friday, August 8th. The restaurant operator reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. The firm had revenue of $560.93 million during the quarter, compared to analyst estimates of $558.95 million. Wendy’s had a net margin of 8.63% and a return on equity of 103.07%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. On average, equities analysts expect that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.14 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.56 annualized dividend and a yield of 5.5%. Wendy’s’s dividend payout ratio (DPR) is 58.33%.

Insider Buying and Selling

In related news, CMO Lindsay J. Radkoski purchased 5,050 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average price of $11.68 per share, for a total transaction of $58,984.00. Following the purchase, the chief marketing officer directly owned 28,956 shares in the company, valued at approximately $338,206.08. This trade represents a 21.12% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WEN shares. Truist Financial set a $13.00 price target on shares of Wendy’s and gave the company a “buy” rating in a research report on Monday. Stephens reissued an “equal weight” rating on shares of Wendy’s in a research report on Monday. Wall Street Zen raised shares of Wendy’s from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Barclays cut their price objective on shares of Wendy’s from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Finally, Bank of America cut their price objective on shares of Wendy’s from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.87.

Wendy’s Company 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.