Wendys Co (NASDAQ:WEN) major shareholder Trian Fund Management, L.P. sold 475,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total transaction of $9,452,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of NASDAQ:WEN traded up $0.16 during midday trading on Friday, hitting $19.95. The company’s stock had a trading volume of 4,505,596 shares, compared to its average volume of 3,189,063. The business’s 50 day simple moving average is $19.20 and its 200 day simple moving average is $18.44. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.96 and a current ratio of 1.97. The company has a market cap of $4.53 billion, a P/E ratio of 33.81, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. Wendys Co has a 12-month low of $14.96 and a 12-month high of $20.30.
Wendys (NASDAQ:WEN) last posted its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The firm had revenue of $435.30 million for the quarter, compared to the consensus estimate of $439.64 million. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. On average, sell-side analysts predict that Wendys Co will post 0.63 earnings per share for the current fiscal year.
Several analysts recently commented on WEN shares. Goldman Sachs Group started coverage on shares of Wendys in a research report on Monday, July 29th. They set a “sell” rating and a $17.50 price target on the stock. BMO Capital Markets raised their price target on shares of Wendys from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Wedbush reiterated a “hold” rating and issued a $20.00 target price on shares of Wendys in a research report on Wednesday, May 8th. Stephens lifted their target price on shares of Wendys to $22.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Finally, MKM Partners began coverage on shares of Wendys in a research report on Tuesday. They issued a “neutral” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $20.18.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in Wendys by 1.3% during the second quarter. BlackRock Inc. now owns 16,840,359 shares of the restaurant operator’s stock worth $329,735,000 after purchasing an additional 211,285 shares during the period. Invesco Ltd. raised its stake in shares of Wendys by 65.5% in the 2nd quarter. Invesco Ltd. now owns 10,441,578 shares of the restaurant operator’s stock valued at $204,447,000 after acquiring an additional 4,131,438 shares during the period. Wells Fargo & Company MN raised its stake in shares of Wendys by 2.2% in the 2nd quarter. Wells Fargo & Company MN now owns 9,948,238 shares of the restaurant operator’s stock valued at $194,787,000 after acquiring an additional 211,568 shares during the period. Janus Henderson Group PLC raised its stake in shares of Wendys by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 5,419,827 shares of the restaurant operator’s stock valued at $96,961,000 after acquiring an additional 98,309 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in shares of Wendys by 0.8% in the 1st quarter. OppenheimerFunds Inc. now owns 3,353,385 shares of the restaurant operator’s stock valued at $59,992,000 after acquiring an additional 25,748 shares during the period. 76.93% of the stock is currently owned by institutional investors.
Wendys Company Profile
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.
Further Reading: Understanding Market Liquidity
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