The Manufacturers Life Insurance Company Has $2.58 Million Stock Holdings in The Wendy’s Company (NASDAQ:WEN)

The Manufacturers Life Insurance Company reduced its stake in shares of The Wendy’s Company (NASDAQ:WEN) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 152,290 shares of the restaurant operator’s stock after selling 3,030 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Wendy’s worth $2,583,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WEN. Salomon & Ludwin LLC raised its position in Wendy’s by 378.0% in the 1st quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 1,240 shares during the last quarter. Quarry LP bought a new position in shares of Wendy’s in the 4th quarter valued at $34,000. Bessemer Group Inc. grew its holdings in Wendy’s by 483.2% during the 1st quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock worth $35,000 after acquiring an additional 1,551 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Wendy’s in the second quarter worth approximately $33,000. Finally, Mather Group LLC. bought a new position in Wendy’s during the first quarter worth $44,000. Institutional investors own 85.96% of the company’s stock.

Insider Transactions at Wendy’s

In related news, Director Matthew H. Peltz sold 1,000,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $17.18, for a total transaction of $17,180,000.00. Following the sale, the director now directly owns 14,943,466 shares in the company, valued at approximately $256,728,745.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.10% of the company’s stock.

Wendy’s Stock Performance

NASDAQ:WEN opened at $17.59 on Thursday. The company has a market capitalization of $3.61 billion, a P/E ratio of 17.77, a P/E/G ratio of 2.33 and a beta of 0.80. The business has a fifty day simple moving average of $17.16 and a two-hundred day simple moving average of $17.61. The company has a debt-to-equity ratio of 12.01, a current ratio of 2.17 and a quick ratio of 2.15. The Wendy’s Company has a 1 year low of $15.61 and a 1 year high of $20.65.

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

Wendy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 5.69%. Wendy’s’s payout ratio is 101.01%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Piper Sandler decreased their target price on Wendy’s from $23.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Barclays decreased their target price on shares of Wendy’s from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Truist Financial decreased their price objective on Wendy’s from $22.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. The Goldman Sachs Group initiated coverage on Wendy’s in a research report on Thursday, June 13th. They set a “sell” rating and a $16.00 target price on the stock. Finally, Tigress Financial reissued a “buy” rating and issued a $29.00 price target on shares of Wendy’s in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wendy’s has a consensus rating of “Hold” and a consensus price target of $20.12.

About Wendy’s

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.