Oregon Public Employees Retirement Fund trimmed its position in Wendys Co (NASDAQ:WEN) by 1.3% during the second quarter, Holdings Channel.com reports. The firm owned 73,566 shares of the restaurant operator’s stock after selling 953 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Wendys were worth $1,440,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Wendys by 10.1% during the 4th quarter. Bank of America Corp DE now owns 545,995 shares of the restaurant operator’s stock worth $8,522,000 after acquiring an additional 50,256 shares during the period. Legal & General Group Plc grew its holdings in shares of Wendys by 6.9% during the 4th quarter. Legal & General Group Plc now owns 270,925 shares of the restaurant operator’s stock worth $4,229,000 after acquiring an additional 17,586 shares during the period. Amalgamated Bank grew its stake in shares of Wendys by 58.3% in the 4th quarter. Amalgamated Bank now owns 43,794 shares of the restaurant operator’s stock worth $684,000 after buying an additional 16,134 shares during the last quarter. FMR LLC grew its stake in shares of Wendys by 280.4% in the 4th quarter. FMR LLC now owns 2,824,291 shares of the restaurant operator’s stock worth $44,086,000 after buying an additional 2,081,924 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Wendys in the 4th quarter worth approximately $56,554,000. Institutional investors and hedge funds own 76.57% of the company’s stock.
Several research firms recently weighed in on WEN. ValuEngine downgraded Wendys from a “buy” rating to a “hold” rating in a research note on Thursday. Piper Jaffray Companies began coverage on Wendys in a research note on Monday, May 13th. They issued an “overweight” rating and a $22.00 price target on the stock. Cowen began coverage on Wendys in a research note on Wednesday, April 10th. They issued an “outperform” rating and a $21.00 price target on the stock. Stephens upped their price target on Wendys to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets upped their price target on Wendys from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $20.19.
WEN stock traded down $0.37 during midday trading on Monday, hitting $17.72. The company’s stock had a trading volume of 43,242 shares, compared to its average volume of 1,873,776. The stock has a market capitalization of $4.17 billion, a P/E ratio of 29.99, a PEG ratio of 2.00 and a beta of 0.72. Wendys Co has a 12 month low of $14.96 and a 12 month high of $20.14. The company has a debt-to-equity ratio of 5.80, a quick ratio of 2.04 and a current ratio of 2.05. The business has a 50-day simple moving average of $19.24.
Wendys (NASDAQ:WEN) last released its quarterly earnings data on Wednesday, May 8th. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $408.60 million for the quarter, compared to analysts’ expectations of $398.58 million. Wendys had a return on equity of 23.85% and a net margin of 29.16%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. On average, equities analysts predict that Wendys Co will post 0.63 earnings per share for the current year.
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 $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 2.26%. Wendys’s dividend payout ratio (DPR) is presently 67.80%.
In related news, COO Robert D. Wright sold 454,793 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $18.60, for a total value of $8,459,149.80. Following the transaction, the chief operating officer now directly owns 237,425 shares of the company’s stock, valued at approximately $4,416,105. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert D. Wright sold 126,629 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $18.74, for a total value of $2,373,027.46. The disclosure for this sale can be found here. Insiders sold a total of 690,532 shares of company stock worth $12,859,441 over the last ninety days. 20.90% of the stock is currently owned by insiders.
The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.
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