Liberty Mutual Group Asset Management Inc. lowered its holdings in shares of Wendy’s (NASDAQ:WEN) by 17.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 50,545 shares of the restaurant operator’s stock after selling 10,576 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Wendy’s were worth $887,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of WEN. PDS Planning Inc bought a new stake in shares of Wendy’s during the first quarter worth approximately $163,000. Wedbush Securities Inc. bought a new stake in shares of Wendy’s during the first quarter worth approximately $189,000. Bbva Compass Bancshares Inc. bought a new stake in shares of Wendy’s during the first quarter worth approximately $194,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Wendy’s by 50.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,248 shares of the restaurant operator’s stock worth $185,000 after acquiring an additional 3,753 shares during the period. Finally, Boston Advisors LLC bought a new stake in shares of Wendy’s during the fourth quarter worth approximately $199,000. Institutional investors and hedge funds own 79.65% of the company’s stock.
In other news, CFO Gunther Plosch acquired 5,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was acquired at an average cost of $16.62 per share, for a total transaction of $83,100.00. Following the completion of the transaction, the chief financial officer now directly owns 25,000 shares in the company, valued at $415,500. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew H. Peltz sold 725,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $16.41, for a total transaction of $11,897,250.00. Following the transaction, the director now owns 33,281 shares of the company’s stock, valued at $546,141.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,434,832 shares of company stock valued at $155,809,973. Company insiders own 23.10% of the company’s stock.
A number of equities research analysts have recently issued reports on WEN shares. Guggenheim upgraded Wendy’s from a “neutral” rating to a “buy” rating in a report on Friday, February 16th. Wells Fargo & Co boosted their price objective on Wendy’s from $15.50 to $16.00 and gave the stock a “market perform” rating in a report on Monday, February 12th. Wedbush restated a “buy” rating and set a $20.00 price objective on shares of Wendy’s in a report on Thursday, February 22nd. BidaskClub cut Wendy’s from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 31st. Finally, Stifel Nicolaus boosted their price objective on Wendy’s from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, April 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.77.
Wendy’s opened at $16.51 on Friday, according to Marketbeat.com. The company has a debt-to-equity ratio of 6.00, a current ratio of 1.77 and a quick ratio of 1.76. Wendy’s has a 1-year low of $13.57 and a 1-year high of $17.75. The company has a market capitalization of $3.88 billion, a PE ratio of 38.40, a price-to-earnings-growth ratio of 1.50 and a beta of 0.76.
Wendy’s (NASDAQ:WEN) last released its quarterly earnings results 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 net margin of 14.55% and a return on equity of 23.01%. The business had revenue of $309.25 million during the quarter. During the same period last year, the firm posted $0.08 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. sell-side analysts anticipate that Wendy’s will post 0.56 earnings per share for the current year.
Wendy’s declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 15th that permits the company to buyback $175.00 million in shares. This buyback authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be given a dividend of $0.085 per share. The ex-dividend date is Thursday, May 31st. This represents a $0.34 annualized dividend and a yield of 2.06%. Wendy’s’s dividend payout ratio is currently 79.07%.
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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