Moors & Cabot Inc. acquired a new position in Wendys Co (NASDAQ:WEN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,000 shares of the restaurant operator’s stock, valued at approximately $182,000.
Several other institutional investors have also modified their holdings of WEN. Norges Bank bought a new stake in shares of Wendys in the fourth quarter worth $56,554,000. FMR LLC lifted its holdings in Wendys by 280.4% in the fourth quarter. FMR LLC now owns 2,824,291 shares of the restaurant operator’s stock valued at $44,086,000 after buying an additional 2,081,924 shares during the period. Two Sigma Advisers LP lifted its holdings in Wendys by 171.1% in the fourth quarter. Two Sigma Advisers LP now owns 2,642,829 shares of the restaurant operator’s stock valued at $41,255,000 after buying an additional 1,667,800 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Wendys by 1,553.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,163,242 shares of the restaurant operator’s stock valued at $75,000 after buying an additional 1,092,875 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in Wendys by 4,861.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 569,470 shares of the restaurant operator’s stock valued at $8,889,000 after buying an additional 557,992 shares during the period. 78.70% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on WEN shares. Bank of America set a $20.00 target price on shares of Wendys and gave the stock a “hold” rating in a report on Friday, May 10th. Cowen started coverage on shares of Wendys in a report on Wednesday, April 10th. They issued an “outperform” rating and a $21.00 target price on the stock. Mizuho lowered shares of Wendys from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a report on Wednesday, March 20th. Stephens upped their target price on shares of Wendys to $22.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Finally, BMO Capital Markets upped their target price on shares of Wendys from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Wendys has an average rating of “Buy” and an average target price of $20.42.
Shares of WEN stock opened at $18.50 on Thursday. Wendys Co has a 52-week low of $14.96 and a 52-week high of $19.45. The company has a quick ratio of 2.04, a current ratio of 2.05 and a debt-to-equity ratio of 5.80. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 2.06 and a beta of 0.77.
Wendys (NASDAQ:WEN) last issued its quarterly earnings data on Wednesday, May 8th. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. Wendys had a net margin of 29.16% and a return on equity of 23.85%. The business had revenue of $408.60 million during the quarter, compared to the consensus estimate of $398.58 million. During the same period in the prior year, the firm posted $0.11 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts expect that Wendys Co will post 0.63 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, May 31st. Wendys’s dividend payout ratio is currently 67.80%.
In related news, major shareholder Trian Fund Management, L.P. sold 3,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $17.11, for a total transaction of $51,330,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Robert D. Wright sold 126,629 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $18.74, for a total transaction of $2,373,027.46. The disclosure for this sale can be found here. Insiders have sold a total of 3,244,636 shares of company stock valued at $55,884,654 over the last three months. 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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