MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stake in The Wendy’s Company (NASDAQ:WEN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in The Wendy’s Company (NASDAQ:WEN) by 5.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 676,493 shares of the restaurant operator’s stock after purchasing an additional 34,187 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Wendy’s were worth $11,027,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in Wendy’s by 2.9% during the fourth quarter. Pacer Advisors Inc. now owns 25,529 shares of the restaurant operator’s stock worth $416,000 after acquiring an additional 717 shares during the last quarter. Thrivent Financial for Lutherans increased its stake 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 worth $979,000 after acquiring an additional 797 shares during the last quarter. Natixis Advisors LLC increased its stake in Wendy’s by 6.1% during the fourth quarter. Natixis Advisors LLC now owns 15,634 shares of the restaurant operator’s stock worth $255,000 after acquiring an additional 897 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its stake in Wendy’s by 46.4% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 3,107 shares of the restaurant operator’s stock worth $51,000 after acquiring an additional 985 shares during the last quarter. Finally, Ausdal Financial Partners Inc. increased its stake in Wendy’s by 9.9% during the fourth quarter. Ausdal Financial Partners Inc. now owns 11,232 shares of the restaurant operator’s stock worth $183,000 after acquiring an additional 1,008 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wendy’s Stock Up 2.5%

Shares of NASDAQ:WEN opened at $12.26 on Friday. The Wendy’s Company has a 52-week low of $11.70 and a 52-week high of $20.60. The stock has a market cap of $2.35 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 2.00 and a beta of 0.40. The business’s 50 day moving average is $13.39 and its 200 day moving average is $15.37. The company has a quick ratio of 1.83, a current ratio of 1.85 and a debt-to-equity ratio of 12.48.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $530.11 million. Wendy’s had a return on equity of 75.56% and a net margin of 8.65%. Wendy’s’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Sell-side 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 will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.56 annualized dividend and a yield of 4.57%. Wendy’s’s dividend payout ratio (DPR) is presently 59.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WEN shares. Sanford C. Bernstein set a $13.00 price objective on Wendy’s in a research note on Monday, May 5th. TD Securities reduced their price objective on Wendy’s from $14.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, May 2nd. Guggenheim cut Wendy’s from a “buy” rating to a “neutral” rating in a research note on Wednesday. BMO Capital Markets cut their target price on Wendy’s from $17.00 to $15.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 6th. Finally, Citigroup increased their price target on Wendy’s from $15.50 to $16.50 and gave the stock a “neutral” rating in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.34.

Insider Buying and Selling at Wendy’s

In other Wendy’s news, insider Abigail E. Pringle sold 136,819 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $12.81, for a total transaction of $1,752,651.39. Following the sale, the insider now owns 203,005 shares of the company’s stock, valued at approximately $2,600,494.05. This trade represents a 40.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.00% of the company’s stock.

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.