Wendys Co (NASDAQ:WEN) Major Shareholder Sells $9,452,500.00 in Stock

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.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, August 30th. Wendys’s dividend payout ratio is currently 67.80%.

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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