New Mexico Educational Retirement Board Purchases 3,900 Shares of The Wendy’s Company (NASDAQ:WEN)

Posted by Defense World Staff on Oct 3rd, 2023

New Mexico Educational Retirement Board increased its position in The Wendy’s Company (NASDAQ:WEN – Free Report) by 12.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,800 shares of the restaurant operator’s stock after buying an additional 3,900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Wendy’s were worth $757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its position in Wendy’s by 32.8% in the first quarter. BlackRock Inc. now owns 20,395,661 shares of the restaurant operator’s stock valued at $444,218,000 after purchasing an additional 5,039,239 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Wendy’s by 118.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,581,637 shares of the restaurant operator’s stock valued at $99,788,000 after purchasing an additional 2,487,477 shares during the last quarter. Renaissance Technologies LLC lifted its position in Wendy’s by 370.9% in the first quarter. Renaissance Technologies LLC now owns 2,879,282 shares of the restaurant operator’s stock valued at $62,711,000 after purchasing an additional 2,267,900 shares during the last quarter. Norges Bank bought a new stake in Wendy’s in the fourth quarter valued at approximately $44,445,000. Finally, Schonfeld Strategic Advisors LLC lifted its position in Wendy’s by 386.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,586,996 shares of the restaurant operator’s stock valued at $35,914,000 after purchasing an additional 1,260,639 shares during the last quarter. Institutional investors own 77.54% of the company’s stock.

Insider Activity

In other news, Director Matthew H. Peltz sold 2,905,569 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $20.30, for a total transaction of $58,983,050.70. Following the transaction, the director now directly owns 17,827,059 shares of the company’s stock, valued at $361,889,297.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 20.10% of the company’s stock.

Wendy’s Trading Down 1.8 %

NASDAQ WEN opened at $20.04 on Tuesday. The Wendy’s Company has a 12 month low of $18.55 and a 12 month high of $23.90. The stock has a market cap of $4.19 billion, a P/E ratio of 22.27, a P/E/G ratio of 2.06 and a beta of 0.88. The stock’s fifty day moving average price is $20.68 and its 200-day moving average price is $21.53. The company has a current ratio of 2.48, a quick ratio of 2.46 and a debt-to-equity ratio of 8.56.

Wendy’s (NASDAQ:WEN – Get Free Report) last announced its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. The firm had revenue of $561.57 million for the quarter, compared to the consensus estimate of $566.24 million. Wendy’s had a return on equity of 47.23% and a net margin of 8.86%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. As a group, equities analysts forecast that The Wendy’s Company will post 0.98 EPS for the current fiscal year.

Wendy’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend was Thursday, August 31st. Wendy’s’s payout ratio is currently 111.11%.

Wall Street Analyst Weigh In

WEN has been the subject of several recent research reports. Loop Capital boosted their price objective on Wendy’s from $29.00 to $31.00 in a research report on Thursday, August 10th. Citigroup decreased their target price on Wendy’s from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, July 26th. TD Cowen restated a “market perform” rating and set a $22.00 target price on shares of Wendy’s in a report on Thursday, August 10th. Wedbush restated an “outperform” rating and set a $26.50 target price on shares of Wendy’s in a report on Tuesday, September 12th. Finally, Truist Financial decreased their target price on Wendy’s from $29.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.29.

View Our Latest Stock Report on WEN

Wendy’s Company Profile

(Free Report)

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.