Rhumbline Advisers reduced its stake in shares of Wendys Co (NASDAQ:WEN) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,899 shares of the restaurant operator’s stock after selling 33,328 shares during the quarter. Rhumbline Advisers owned about 0.16% of Wendys worth $6,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in shares of Wendys 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 purchasing an additional 587,113 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Wendys 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 purchasing an additional 1,507,055 shares in the last quarter. Fort Pitt Capital Group LLC grew its holdings in shares of Wendys by 6.5% in the fourth quarter. Fort Pitt Capital Group LLC now owns 2,071,787 shares of the restaurant operator’s stock valued at $34,019,000 after purchasing an additional 125,727 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Wendys by 1.0% in the fourth quarter. Jennison Associates LLC now owns 1,941,802 shares of the restaurant operator’s stock valued at $31,884,000 after purchasing an additional 18,756 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Wendys by 92.4% in the third quarter. Canada Pension Plan Investment Board now owns 1,434,000 shares of the restaurant operator’s stock valued at $22,270,000 after purchasing an additional 688,700 shares in the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.
Wendys Co (NASDAQ:WEN) traded down $0.01 during midday trading on Wednesday, reaching $16.99. 2,270,000 shares of the company’s stock traded hands, compared to its average volume of 5,120,000. Wendys Co has a 52 week low of $13.03 and a 52 week high of $17.66. The stock has a market capitalization of $4,110.00, a price-to-earnings ratio of 84.95, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81. The company has a debt-to-equity ratio of 4.75, a current ratio of 1.78 and a quick ratio of 1.77.
Wendys (NASDAQ:WEN) last released its earnings results on Wednesday, February 21st. The restaurant operator reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). Wendys had a return on equity of 21.24% and a net margin of 15.86%. The business had revenue of $309.25 million for the quarter. During the same period last year, the business posted $0.08 EPS. The company’s revenue was down .2% on a year-over-year basis. research analysts anticipate that Wendys Co will post 0.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 2.00%. This is an increase from Wendys’s previous quarterly dividend of $0.07. The ex-dividend date is Wednesday, February 28th. Wendys’s dividend payout ratio (DPR) is 170.00%.
Wendys announced that its board has authorized a stock repurchase plan on Thursday, February 15th that permits the company to repurchase $175.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts recently weighed in on the stock. TheStreet raised shares of Wendys from a “c+” rating to a “b-” rating in a report on Thursday, December 28th. Longbow Research lowered shares of Wendys from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a report on Friday, January 12th. They noted that the move was a valuation call. Citigroup raised their target price on shares of Wendys from $17.00 to $19.00 and gave the company a “buy” rating in a report on Monday, March 5th. BidaskClub lowered shares of Wendys from a “sell” rating to a “strong sell” rating in a report on Friday, February 16th. Finally, Argus reissued a “buy” rating and issued a $16.60 target price (down from $19.00) on shares of Wendys in a report on Wednesday, March 7th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.40.
In other news, CFO Gunther Plosch acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was purchased at an average cost of $16.62 per share, for a total transaction of $83,100.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,000 shares of the company’s stock, valued at approximately $415,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Emil J. Brolick sold 540,540 shares of Wendys stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $17.14, for a total value of $9,264,855.60. Following the completion of the sale, the director now owns 1,371,835 shares of the company’s stock, valued at $23,513,251.90. The disclosure for this sale can be found here. 26.50% of the stock is currently owned by company insiders.
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Wendys Company Profile
The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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