Boyar Asset Management Inc. Has $408,000 Stake in The Wendy’s Company (NASDAQ:WEN)

Boyar Asset Management Inc. decreased its holdings in The Wendy’s Company (NASDAQ:WEN) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,872 shares of the restaurant operator’s stock after selling 1,615 shares during the quarter. Boyar Asset Management Inc.’s holdings in Wendy’s were worth $408,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC increased its stake in shares of Wendy’s by 3,249.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 1,568,348 shares of the restaurant operator’s stock valued at $25,564,000 after buying an additional 1,521,527 shares in the last quarter. Invesco Ltd. lifted its position in Wendy’s by 296.1% during the 4th quarter. Invesco Ltd. now owns 1,882,829 shares of the restaurant operator’s stock worth $30,690,000 after buying an additional 1,407,503 shares in the last quarter. Trexquant Investment LP bought a new stake in Wendy’s during the 4th quarter worth about $16,678,000. Victory Capital Management Inc. increased its position in Wendy’s by 93.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,591,281 shares of the restaurant operator’s stock valued at $25,938,000 after acquiring an additional 766,910 shares in the last quarter. Finally, Sound Income Strategies LLC increased its position in Wendy’s by 84,261.8% in the 1st 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 in the last quarter. Institutional investors own 85.96% of the company’s stock.

Insider Buying and Selling at Wendy’s

In other news, CMO Lindsay J. Radkoski purchased 5,050 shares of Wendy’s stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average price of $11.68 per share, with a total value of $58,984.00. Following the transaction, the chief marketing officer now directly owns 28,956 shares in the company, valued at $338,206.08. The trade was a 21.12% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Abigail E. Pringle sold 136,819 shares of Wendy’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $12.81, for a total transaction of $1,752,651.39. Following the completion of the sale, the insider now owns 203,005 shares in the company, valued at $2,600,494.05. This trade represents a 40.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. TD Securities reduced their target price on shares of Wendy’s from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, May 2nd. Barclays reduced their price objective on Wendy’s from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, May 5th. Citigroup increased their price objective on Wendy’s from $15.50 to $16.50 and gave the company a “neutral” rating in a research report on Friday, March 7th. Stifel Nicolaus dropped their target price on Wendy’s from $16.00 to $14.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th. Finally, Stephens reaffirmed an “equal weight” rating and set a $14.00 price target on shares of Wendy’s in a research note on Tuesday, June 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.34.

Wendy’s Price Performance

Shares of WEN stock opened at $11.87 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.49 and a debt-to-equity ratio of 24.88. The Wendy’s Company has a 12-month low of $10.91 and a 12-month high of $20.60. The firm has a fifty day moving average of $11.94 and a 200-day moving average of $14.01. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.90 and a beta of 0.34.

Wendy’s (NASDAQ:WEN) last posted its earnings results on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. The firm had revenue of $523.47 million during the quarter, compared to analysts’ expectations of $530.11 million. Wendy’s had a return on equity of 85.36% and a net margin of 8.57%. The company’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 earnings per share. On average, equities research analysts forecast that The Wendy’s Company will post 0.99 earnings per share for the current year.

Wendy’s Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.14 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.56 annualized dividend and a yield of 4.72%. Wendy’s’s dividend payout ratio (DPR) is currently 59.57%.

About Wendy’s

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.