Probity Advisors Inc. Purchases 6,035 Shares of The Wendy’s Company $WEN

Probity Advisors Inc. grew its position in The Wendy’s Company (NASDAQ:WEN) by 32.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,537 shares of the restaurant operator’s stock after purchasing an additional 6,035 shares during the quarter. Probity Advisors Inc.’s holdings in Wendy’s were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of WEN. Northern Trust Corp boosted its position in shares of Wendy’s by 89.6% in the first quarter. Northern Trust Corp now owns 2,987,332 shares of the restaurant operator’s stock worth $43,705,000 after purchasing an additional 1,411,912 shares during the period. Nuveen LLC bought a new position in shares of Wendy’s in the first quarter worth approximately $15,117,000. Vanguard Group Inc. boosted its position in shares of Wendy’s by 2.5% in the first quarter. Vanguard Group Inc. now owns 21,634,226 shares of the restaurant operator’s stock worth $316,509,000 after purchasing an additional 536,071 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Wendy’s by 7.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,767,723 shares of the restaurant operator’s stock worth $99,012,000 after purchasing an additional 464,444 shares during the period. Finally, Ieq Capital LLC boosted its position in shares of Wendy’s by 112.2% in the first quarter. Ieq Capital LLC now owns 569,891 shares of the restaurant operator’s stock worth $8,338,000 after purchasing an additional 301,360 shares during the period. 85.96% of the stock is currently owned by institutional investors.

Wendy’s Price Performance

Wendy’s stock opened at $9.33 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.45 and a debt-to-equity ratio of 28.74. The Wendy’s Company has a 52-week low of $8.55 and a 52-week high of $20.60. The firm’s fifty day moving average is $9.70 and its 200 day moving average is $10.95. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 1.69 and a beta of 0.38.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Friday, August 8th. The restaurant operator reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Wendy’s had a net margin of 8.63% and a return on equity of 103.07%. The firm had revenue of $560.93 million during the quarter, compared to the consensus estimate of $558.95 million. During the same quarter last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Wendy’s has set its FY 2025 guidance at 0.820-0.89 EPS. Sell-side analysts forecast that The Wendy’s Company will post 0.99 EPS for the current fiscal year.

Wendy’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.0%. Wendy’s’s dividend payout ratio (DPR) is presently 58.33%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WEN shares. Piper Sandler reiterated an “overweight” rating and issued a $13.00 price target on shares of Wendy’s in a research report on Friday, August 8th. BTIG Research reiterated a “neutral” rating on shares of Wendy’s in a research report on Monday, September 15th. Citigroup upgraded shares of Wendy’s from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 8th. Cowen restated a “hold” rating on shares of Wendy’s in a research report on Friday, August 8th. Finally, Truist Financial set a $12.00 target price on shares of Wendy’s in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.03.

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.