Huntington National Bank Sells 8,302 Shares of Wendys Co (NASDAQ:WEN)

Huntington National Bank reduced its holdings in Wendys Co (NASDAQ:WEN) by 13.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,642 shares of the restaurant operator’s stock after selling 8,302 shares during the quarter. Huntington National Bank’s holdings in Wendys were worth $1,052,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Coastal Capital Group Inc. purchased a new position in Wendys during the second quarter valued at $30,000. Coastal Investment Advisors Inc. increased its holdings in shares of Wendys by 116.6% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 978 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Wendys by 65.2% in the 2nd quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock worth $43,000 after purchasing an additional 849 shares in the last quarter. Carroll Financial Associates Inc. increased its holdings in shares of Wendys by 226.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock worth $75,000 after purchasing an additional 2,658 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new stake in shares of Wendys in the 2nd quarter worth $99,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

In other Wendys news, Director Matthew H. Peltz sold 2,000,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 5,444,270 shares in the company, valued at $108,722,071.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider E.J. Wunsch sold 3,694 shares of the company’s 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 sale, the insider now owns 52,449 shares in the company, valued at $1,075,728.99. The disclosure for this sale can be found here. Insiders sold 2,478,694 shares of company stock worth $49,468,264 over the last quarter. 20.90% of the stock is owned by company insiders.

A number of analysts have commented on the company. Piper Jaffray Companies set a $22.00 target price on Wendys and gave the stock a “buy” rating in a report on Wednesday, September 18th. Longbow Research set a $25.00 target price on Wendys and gave the stock a “buy” rating in a report on Friday, September 13th. Credit Suisse Group lifted their target price on Wendys from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday. KeyCorp reissued a “hold” rating on shares of Wendys in a report on Tuesday, October 15th. Finally, Telsey Advisory Group lifted their target price on Wendys from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. Wendys currently has an average rating of “Hold” and a consensus target price of $21.70.

Shares of Wendys stock traded down $0.31 during trading hours on Friday, hitting $20.67. The company’s stock had a trading volume of 180,012 shares, compared to its average volume of 3,725,772. The business has a 50 day moving average price of $20.76 and a two-hundred day moving average price of $19.82. Wendys Co has a 12-month low of $14.96 and a 12-month high of $22.84. The company has a market cap of $4.81 billion, a PE ratio of 34.98, a PEG ratio of 3.00 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 Thomson Reuters’ consensus estimate of $0.15 by $0.04. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The business 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 business earned $0.17 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. As a group, research analysts anticipate that Wendys Co will post 0.57 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.12 dividend. This is an increase from Wendys’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 29th. Wendys’s payout ratio is currently 67.80%.

About Wendys

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.

Read More: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Wendys (NASDAQ:WEN)

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