Kurt A. Kane Sells 153,886 Shares of The Wendy’s Company (NASDAQ:WEN) Stock

The Wendy’s Company (NASDAQ:WEN) insider Kurt A. Kane sold 153,886 shares of the firm’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $27.54, for a total transaction of $4,238,020.44. Following the sale, the insider now owns 256,038 shares of the company’s stock, valued at $7,051,286.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of The Wendy’s stock traded down $0.79 on Thursday, reaching $24.42. The stock had a trading volume of 11,441,343 shares, compared to its average volume of 4,190,396. The business has a 50-day moving average price of $22.74. The company has a current ratio of 1.62, a quick ratio of 1.61 and a debt-to-equity ratio of 5.20. The Wendy’s Company has a fifty-two week low of $18.86 and a fifty-two week high of $29.46. The company has a market capitalization of $5.41 billion, a PE ratio of 38.27, a P/E/G ratio of 2.27 and a beta of 0.95.

The Wendy’s (NASDAQ:WEN) last announced its earnings results on Wednesday, May 12th. The restaurant operator reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.06. The Wendy’s had a net margin of 8.09% and a return on equity of 29.74%. The business had revenue of $460.20 million for the quarter, compared to analyst estimates of $443.02 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The Wendy’s’s revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts forecast that The Wendy’s Company will post 0.73 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be given a dividend of $0.10 per share. The ex-dividend date is Friday, May 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.64%. This is a positive change from The Wendy’s’s previous quarterly dividend of $0.09. The Wendy’s’s payout ratio is 70.18%.

WEN has been the subject of several research reports. TheStreet upgraded shares of The Wendy’s from a “c+” rating to a “b” rating in a report on Friday, May 7th. Northcoast Research cut shares of The Wendy’s from a “buy” rating to a “neutral” rating in a report on Wednesday. Stifel Nicolaus cut shares of The Wendy’s from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research note on Tuesday. Wedbush lifted their target price on shares of The Wendy’s from $27.00 to $28.50 and gave the company an “outperform” rating in a research note on Wednesday, May 12th. Finally, Zacks Investment Research cut shares of The Wendy’s from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.84.

Hedge funds have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. increased its position in The Wendy’s by 91.9% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 682,453 shares of the restaurant operator’s stock worth $14,961,000 after acquiring an additional 326,788 shares during the period. BlackRock Inc. increased its position in The Wendy’s by 10.1% during the fourth quarter. BlackRock Inc. now owns 18,488,622 shares of the restaurant operator’s stock worth $405,271,000 after acquiring an additional 1,696,520 shares during the period. Norges Bank bought a new stake in The Wendy’s in the 4th quarter valued at $32,083,000. CI Investments Inc. increased its holdings in The Wendy’s by 22.3% in the 4th quarter. CI Investments Inc. now owns 4,628 shares of the restaurant operator’s stock valued at $101,000 after buying an additional 844 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in The Wendy’s in the 4th quarter valued at $60,000. 72.33% of the stock is currently owned by institutional investors and hedge funds.

About The Wendy’s

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company. It operates through three segments: Wendy's U.S., Wendy's International, and Global Real Estate & Development. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.

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