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.
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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