38,854 Shares in The Wendy’s Company (NASDAQ:WEN) Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC purchased a new position in shares of The Wendy’s Company (NASDAQ:WEN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 38,854 shares of the restaurant operator’s stock, valued at approximately $702,000.

Other institutional investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in shares of Wendy’s in the second quarter worth approximately $2,888,000. Assenagon Asset Management S.A. purchased a new stake in shares of Wendy’s in the second quarter worth approximately $17,094,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Wendy’s by 52.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 40,044 shares of the restaurant operator’s stock worth $679,000 after purchasing an additional 13,703 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new stake in shares of Wendy’s in the second quarter worth approximately $1,718,000. Finally, SG Americas Securities LLC raised its stake in shares of Wendy’s by 221.0% in the second quarter. SG Americas Securities LLC now owns 41,094 shares of the restaurant operator’s stock worth $697,000 after purchasing an additional 28,294 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Matthew H. Peltz sold 1,000,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $17.18, for a total value of $17,180,000.00. Following the sale, the director now owns 14,943,466 shares in the company, valued at $256,728,745.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.10% of the stock is currently owned by company insiders.

Wendy’s Stock Performance

Shares of NASDAQ:WEN traded down $0.15 during trading on Wednesday, hitting $16.83. 447,039 shares of the company were exchanged, compared to its average volume of 3,530,428. The company has a market cap of $3.45 billion, a PE ratio of 17.15, a P/E/G ratio of 1.88 and a beta of 0.76. The stock has a 50 day moving average of $16.84 and a 200 day moving average of $17.93. The Wendy’s Company has a 52-week low of $15.61 and a 52-week high of $20.84. The company has a debt-to-equity ratio of 12.01, a current ratio of 2.17 and a quick ratio of 2.02.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings data on Thursday, August 1st. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. The business had revenue of $570.73 million during the quarter, compared to analysts’ expectations of $577.15 million. During the same quarter last year, the business posted $0.28 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts predict that The Wendy’s Company will post 1 EPS for the current year.

Wendy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.94%. Wendy’s’s dividend payout ratio (DPR) is presently 101.01%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen reduced their target price on Wendy’s from $19.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, July 17th. The Goldman Sachs Group assumed coverage on Wendy’s in a report on Thursday, June 13th. They issued a “sell” rating and a $16.00 target price for the company. JPMorgan Chase & Co. upped their target price on Wendy’s from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on Wendy’s from $20.00 to $18.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Finally, Citigroup upped their target price on Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.13.

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.