Janney Montgomery Scott LLC increased its holdings in shares of Wendys Co (NASDAQ:WEN) by 7.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 102,183 shares of the restaurant operator’s stock after acquiring an additional 7,457 shares during the period. Janney Montgomery Scott LLC’s holdings in Wendys were worth $2,042,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Coastal Capital Group Inc. purchased a new stake in Wendys in the second quarter valued at $30,000. Coastal Investment Advisors Inc. increased its position in shares of Wendys by 116.6% in the second quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 978 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Wendys by 65.2% in the second quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock worth $43,000 after acquiring an additional 849 shares in the last quarter. Carroll Financial Associates Inc. increased its position in shares of Wendys by 226.6% in the second quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock worth $75,000 after acquiring an additional 2,658 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of Wendys in the second quarter worth approximately $99,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.
Shares of WEN opened at $20.77 on Thursday. The company’s 50 day moving average price is $20.75 and its 200 day moving average price is $19.81. Wendys Co has a 52 week low of $14.96 and a 52 week high of $22.84. The company has a market capitalization of $4.74 billion, a PE ratio of 31.63, a PEG ratio of 2.96 and a beta of 0.67. 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 announced its quarterly earnings data on Wednesday, November 6th. The restaurant operator reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The firm had revenue of $437.88 million for the quarter, compared to the consensus estimate of $434.45 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Wendys Co will post 0.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.12 dividend. The ex-dividend date is Friday, November 29th. This is a boost from Wendys’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 2.31%. Wendys’s payout ratio is 67.80%.
Several research analysts have recently weighed in on the stock. Longbow Research set a $25.00 target price on shares of Wendys and gave the stock a “buy” rating in a research report on Friday, September 13th. Guggenheim downgraded shares of Wendys from a “buy” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research report on Monday, September 9th. Stifel Nicolaus set a $22.00 target price on shares of Wendys and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Wedbush lifted their target price on shares of Wendys from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Morgan Stanley lifted their target price on shares of Wendys from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.55.
In other Wendys news, insider E.J. Wunsch sold 3,694 shares of Wendys stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $20.51, for a total value of $75,763.94. Following the completion of the sale, the insider now directly owns 52,449 shares in the company, valued at $1,075,728.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew H. Peltz sold 2,000,000 shares of Wendys stock in a transaction that occurred on Friday, August 16th. The shares were 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 owns 5,444,270 shares of the company’s stock, valued at $108,722,071.90. The disclosure for this sale can be found here. Insiders sold 2,478,694 shares of company stock valued at $49,468,264 over the last quarter. Corporate 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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