Russell Investments Group Ltd. grew its position in shares of Wendys Co (NASDAQ:WEN) by 12.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 344,243 shares of the restaurant operator’s stock after buying an additional 38,563 shares during the period. Russell Investments Group Ltd. owned about 0.15% of Wendys worth $6,740,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Sun Life Financial INC acquired a new stake in shares of Wendys during the 2nd quarter worth approximately $261,000. Prudential Financial Inc. raised its position in shares of Wendys by 1,406.4% during the 2nd quarter. Prudential Financial Inc. now owns 1,621,181 shares of the restaurant operator’s stock worth $31,743,000 after purchasing an additional 1,513,560 shares during the period. BB&T Securities LLC acquired a new stake in shares of Wendys during the 2nd quarter worth approximately $234,000. Menta Capital LLC raised its position in shares of Wendys by 21.0% during the 2nd quarter. Menta Capital LLC now owns 65,200 shares of the restaurant operator’s stock worth $1,277,000 after purchasing an additional 11,318 shares during the period. Finally, Commerce Bank raised its position in shares of Wendys by 40.2% during the 2nd quarter. Commerce Bank now owns 22,778 shares of the restaurant operator’s stock worth $446,000 after purchasing an additional 6,534 shares during the period. 77.94% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on WEN shares. BTIG Research cut Wendys from a “buy” rating to a “neutral” rating in a research report on Tuesday. BMO Capital Markets set a $21.00 target price on Wendys and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Co raised their target price on Wendys from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Tuesday. Longbow Research restated a “buy” rating on shares of Wendys in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised their target price on Wendys from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $20.83.
Shares of WEN stock traded up $0.04 during mid-day trading on Thursday, hitting $19.66. 210,850 shares of the stock traded hands, compared to its average volume of 3,240,024. Wendys Co has a twelve month low of $14.96 and a twelve month high of $22.84. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 33.31, a price-to-earnings-growth ratio of 2.43 and a beta of 0.66. The company’s 50-day simple moving average is $20.25 and its 200-day simple moving average is $18.92. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.96 and a current ratio of 1.97.
Wendys (NASDAQ:WEN) last issued its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $435.30 million for the quarter, compared to analysts’ expectations of $439.64 million. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS. Analysts forecast that Wendys Co will post 0.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, August 30th. Wendys’s dividend payout ratio is presently 67.80%.
In other news, Director Matthew H. Peltz sold 2,000,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $19.97, for a total transaction of $39,940,000.00. Following the completion of the sale, the director now directly owns 5,444,270 shares of the company’s stock, valued at approximately $108,722,071.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $19.90, for a total value of $9,452,500.00. Following the completion of the sale, the insider now directly owns 5,444,270 shares of the company’s stock, valued at approximately $108,340,973. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.
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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