PEAK6 Investments L.P. raised its holdings in shares of Wendys Co (NASDAQ:WEN) by 667.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 208,218 shares of the restaurant operator’s stock after acquiring an additional 181,077 shares during the period. PEAK6 Investments L.P. owned approximately 0.09% of Wendys worth $3,419,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. increased its position in shares of Wendys by 26.8% in the 4th quarter. Victory Capital Management Inc. now owns 7,122,035 shares of the restaurant operator’s stock valued at $116,944,000 after buying an additional 1,507,055 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Wendys by 70.1% in the 4th quarter. Renaissance Technologies LLC now owns 2,794,882 shares of the restaurant operator’s stock valued at $45,892,000 after buying an additional 1,152,200 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Wendys by 7.4% in the 4th quarter. Wells Fargo & Company MN now owns 8,547,151 shares of the restaurant operator’s stock valued at $140,344,000 after buying an additional 587,113 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Wendys in the 4th quarter valued at $8,224,000. Finally, Allianz Asset Management GmbH increased its position in shares of Wendys by 67.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 988,592 shares of the restaurant operator’s stock valued at $15,353,000 after buying an additional 399,664 shares in the last quarter. Institutional investors own 80.57% of the company’s stock.
Wendys Co (WEN) opened at $16.97 on Wednesday. Wendys Co has a one year low of $13.03 and a one year high of $17.66. The company has a debt-to-equity ratio of 4.75, a quick ratio of 1.77 and a current ratio of 1.78. The company has a market cap of $4,153.84, a PE ratio of 21.80, a PEG ratio of 1.88 and a beta of 0.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis 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 is currently 43.59%.
Wendys announced that its Board of Directors has initiated a share buyback plan on Thursday, February 15th that permits the company to repurchase $175.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
A number of analysts recently commented on WEN shares. Royal Bank of Canada restated a “hold” rating and issued a $18.00 price objective on shares of Wendys in a research report on Friday, December 22nd. SunTrust Banks upped their target price on shares of Wendys to $22.00 in a research note on Wednesday, January 3rd. Wedbush raised shares of Wendys from a “neutral” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Wednesday, December 20th. BidaskClub raised shares of Wendys from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Guggenheim raised shares of Wendys from a “neutral” rating to a “buy” rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.40.
In other news, Director Emil J. Brolick sold 540,540 shares of the company’s 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 sale, the director now directly owns 1,371,835 shares of the company’s stock, valued at approximately $23,513,251.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Trian Partners Parallel Fund I sold 5,000,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $16.50, for a total transaction of $82,500,000.00. Following the completion of the sale, the insider now directly owns 5,409,971 shares in the company, valued at $89,264,521.50. The disclosure for this sale can be found here. Corporate insiders own 26.50% of the company’s stock.
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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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