First Trust Advisors LP decreased its stake in Wendys Co (NASDAQ:WEN) by 61.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,262 shares of the restaurant operator’s stock after selling 108,920 shares during the quarter. First Trust Advisors LP’s holdings in Wendys were worth $1,153,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its position in Wendys by 4.0% in the second quarter. BlackRock Inc. now owns 15,558,770 shares of the restaurant operator’s stock worth $267,299,000 after buying an additional 601,968 shares in the last quarter. Janus Henderson Group PLC increased its position in Wendys by 4.1% in the second quarter. Janus Henderson Group PLC now owns 5,599,181 shares of the restaurant operator’s stock worth $96,194,000 after buying an additional 220,039 shares in the last quarter. Fort Pitt Capital Group LLC increased its position in Wendys by 11.5% in the second quarter. Fort Pitt Capital Group LLC now owns 2,294,849 shares of the restaurant operator’s stock worth $39,426,000 after buying an additional 236,732 shares in the last quarter. Millennium Management LLC increased its position in Wendys by 63.0% in the second quarter. Millennium Management LLC now owns 2,120,428 shares of the restaurant operator’s stock worth $36,429,000 after buying an additional 819,826 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Wendys in the second quarter worth about $31,887,000. Institutional investors and hedge funds own 77.71% of the company’s stock.
In related news, COO Robert D. Wright sold 28,300 shares of the stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $17.78, for a total transaction of $503,174.00. Following the completion of the transaction, the chief operating officer now directly owns 48,467 shares of the company’s stock, valued at $861,743.26. The sale was disclosed in a filing with the SEC, which is available through this link. 23.10% of the stock is currently owned by corporate insiders.
A number of analysts have commented on WEN shares. BidaskClub upgraded Wendys from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. Argus upped their price target on Wendys from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. Mizuho set a $21.00 target price on Wendys and gave the stock a “buy” rating in a research report on Thursday, August 16th. Morgan Stanley increased their target price on Wendys from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, August 17th. Finally, Bank of America increased their target price on Wendys from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, August 17th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $19.56.
NASDAQ:WEN opened at $17.11 on Friday. The company has a debt-to-equity ratio of 3.52, a current ratio of 2.52 and a quick ratio of 2.51. Wendys Co has a 12-month low of $14.80 and a 12-month high of $18.68. The stock has a market cap of $4.13 billion, a P/E ratio of 39.79, a price-to-earnings-growth ratio of 1.47 and a beta of 0.55.
Wendys (NASDAQ:WEN) last announced its quarterly earnings results on Tuesday, November 6th. The restaurant operator reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Wendys had a return on equity of 23.36% and a net margin of 40.00%. The company had revenue of $400.55 million during the quarter. During the same period in the previous year, the company posted $0.09 earnings per share. Wendys’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, research analysts anticipate that Wendys Co will post 0.57 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, November 30th. Wendys’s payout ratio is presently 79.07%.
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The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.
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