Principal Financial Group Inc. Has $12.09 Million Stake in The Wendy’s Company (NASDAQ:WEN)

Principal Financial Group Inc. decreased its position in shares of The Wendy’s Company (NASDAQ:WEN) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 620,411 shares of the restaurant operator’s stock after selling 12,179 shares during the quarter. Principal Financial Group Inc.’s holdings in Wendy’s were worth $12,086,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in shares of Wendy’s by 22.2% during the 4th quarter. Russell Investments Group Ltd. now owns 3,220 shares of the restaurant operator’s stock valued at $63,000 after acquiring an additional 586 shares in the last quarter. Signaturefd LLC lifted its holdings in Wendy’s by 112.0% during the 3rd quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock worth $29,000 after buying an additional 763 shares during the period. HB Wealth Management LLC lifted its holdings in Wendy’s by 5.5% during the 4th quarter. HB Wealth Management LLC now owns 15,461 shares of the restaurant operator’s stock worth $301,000 after buying an additional 805 shares during the period. Paradigm Financial Partners LLC lifted its holdings in Wendy’s by 3.5% during the 4th quarter. Paradigm Financial Partners LLC now owns 24,355 shares of the restaurant operator’s stock worth $474,000 after buying an additional 820 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in Wendy’s by 58.0% during the 4th quarter. Fifth Third Bancorp now owns 2,352 shares of the restaurant operator’s stock worth $46,000 after buying an additional 863 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

Insider Transactions at Wendy’s

In other news, Director Kenneth W. Gilbert sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $18.07, for a total value of $81,315.00. Following the transaction, the director now owns 31,304 shares in the company, valued at approximately $565,663.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CMO Juan Carlos Loredo sold 44,806 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $19.50, for a total value of $873,717.00. Following the transaction, the chief marketing officer now owns 27,586 shares in the company, valued at $537,927. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth W. Gilbert sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $18.07, for a total value of $81,315.00. Following the completion of the transaction, the director now owns 31,304 shares in the company, valued at approximately $565,663.28. The disclosure for this sale can be found here. Company insiders own 17.10% of the company’s stock.

Wendy’s Price Performance

WEN stock opened at $17.77 on Friday. The company has a market capitalization of $3.65 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 1.79 and a beta of 0.78. The company has a debt-to-equity ratio of 11.21, a quick ratio of 2.02 and a current ratio of 2.04. The Wendy’s Company has a 52-week low of $17.64 and a 52-week high of $22.91. The business has a 50-day simple moving average of $18.86 and a two-hundred day simple moving average of $18.99.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $534.80 million during the quarter, compared to the consensus estimate of $540.84 million. Wendy’s had a return on equity of 62.68% and a net margin of 9.44%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. Research analysts expect that The Wendy’s Company will post 1 EPS for the current fiscal year.

Wendy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.63%. Wendy’s’s payout ratio is presently 101.01%.

Wall Street Analyst Weigh In

Several brokerages have commented on WEN. Citigroup lifted their target price on Wendy’s from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. downgraded Wendy’s from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $22.00 to $19.00 in a report on Wednesday, February 21st. UBS Group lifted their target price on Wendy’s from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. TD Cowen reissued a “hold” rating and issued a $19.00 price objective on shares of Wendy’s in a research report on Friday, May 3rd. Finally, Wedbush lifted their price objective on Wendy’s from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Fourteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.06.

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.