Rhumbline Advisers cut its stake in Wendy’s (NASDAQ:WEN) by 5.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 360,982 shares of the restaurant operator’s stock after selling 21,917 shares during the period. Rhumbline Advisers owned approximately 0.15% of Wendy’s worth $6,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of WEN. Victory Capital Management Inc. lifted its holdings in Wendy’s by 26.8% in the fourth quarter. Victory Capital Management Inc. now owns 7,122,035 shares of the restaurant operator’s stock valued at $116,944,000 after acquiring an additional 1,507,055 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Wendy’s by 70.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,794,882 shares of the restaurant operator’s stock valued at $45,892,000 after acquiring an additional 1,152,200 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Wendy’s by 7.4% in the fourth quarter. Wells Fargo & Company MN now owns 8,547,151 shares of the restaurant operator’s stock valued at $140,344,000 after acquiring an additional 587,113 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Wendy’s in the fourth quarter valued at approximately $8,224,000. Finally, Alliancebernstein L.P. lifted its holdings in Wendy’s by 353.1% in the fourth quarter. Alliancebernstein L.P. now owns 507,309 shares of the restaurant operator’s stock valued at $8,330,000 after acquiring an additional 395,346 shares during the last quarter. Institutional investors and hedge funds own 79.65% of the company’s stock.
A number of research firms recently commented on WEN. BidaskClub cut Wendy’s from a “hold” rating to a “sell” rating in a report on Saturday. Argus decreased their price objective on Wendy’s from $19.00 to $16.34 and set a “buy” rating on the stock in a report on Thursday, May 17th. Zacks Investment Research upgraded Wendy’s from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a research note on Thursday, May 10th. Stifel Nicolaus upped their price target on Wendy’s from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, April 18th. Finally, Oppenheimer assumed coverage on Wendy’s in a research note on Monday, March 19th. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $17.72.
Wendy’s opened at $16.46 on Tuesday, MarketBeat.com reports. Wendy’s has a twelve month low of $13.57 and a twelve month high of $17.75. The company has a debt-to-equity ratio of 6.00, a quick ratio of 1.76 and a current ratio of 1.77. The firm has a market cap of $3.91 billion, a PE ratio of 38.28, a P/E/G ratio of 1.51 and a beta of 0.76.
Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Wendy’s had a return on equity of 23.01% and a net margin of 14.55%. The company had revenue of $309.25 million for the quarter. During the same quarter in the prior year, the company earned $0.08 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. analysts predict that Wendy’s will post 0.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, May 31st. Wendy’s’s dividend payout ratio is currently 79.07%.
Wendy’s declared that its board has approved a stock repurchase plan on Thursday, February 15th that allows the company to repurchase $175.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, major shareholder Trian Partners Parallel Fund I sold 5,000,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $16.50, for a total transaction of $82,500,000.00. Following the sale, the insider now owns 5,409,971 shares of the company’s stock, valued at $89,264,521.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nelson Peltz sold 2,405,292 shares of the company’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $16.43, for a total value of $39,518,947.56. Following the sale, the director now directly owns 9,893,461 shares in the company, valued at approximately $162,549,564.23. The disclosure for this sale can be found here. Insiders have sold 9,434,832 shares of company stock worth $155,809,973 in the last ninety days. Corporate insiders own 23.10% of the company’s stock.
Wendy’s Company Profile
The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.
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