Wendys Co (NASDAQ:WEN) Director Emil J. Brolick sold 540,540 shares of Wendys stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $17.14, for a total transaction of $9,264,855.60. Following the completion of the sale, the director now directly owns 1,371,835 shares of the company’s stock, valued at approximately $23,513,251.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of NASDAQ WEN traded down $0.64 during mid-day trading on Monday, reaching $16.91. 5,567,603 shares of the company’s stock were exchanged, compared to its average volume of 4,080,108. The stock has a market capitalization of $4,201.72, a price-to-earnings ratio of 39.33, a PEG ratio of 1.64 and a beta of 0.75. Wendys Co has a 52 week low of $13.29 and a 52 week high of $17.70. The company has a debt-to-equity ratio of 4.75, a current ratio of 1.78 and a quick ratio of 1.77.
Wendys (NASDAQ:WEN) last announced its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). Wendys had a net margin of 15.86% and a return on equity of 21.24%. The firm had revenue of $309.25 million during the quarter. During the same quarter in the prior year, the company earned $0.08 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. research analysts expect that Wendys Co will post 0.55 EPS for the current fiscal year.
Wendys announced that its Board of Directors has initiated a share buyback plan on Thursday, February 15th that permits the company to repurchase $175.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were paid a $0.085 dividend. This is a boost from Wendys’s previous quarterly dividend of $0.07. This represents a $0.34 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Wednesday, February 28th. Wendys’s payout ratio is currently 79.07%.
A number of institutional investors have recently made changes to their positions in WEN. First Trust Advisors LP raised its stake in Wendys by 125.5% in the 3rd quarter. First Trust Advisors LP now owns 321,067 shares of the restaurant operator’s stock valued at $4,986,000 after acquiring an additional 178,685 shares during the period. Crossmark Global Holdings Inc. bought a new stake in Wendys in the 3rd quarter valued at about $421,000. Sei Investments Co. raised its stake in Wendys by 15.6% in the 3rd quarter. Sei Investments Co. now owns 59,081 shares of the restaurant operator’s stock valued at $918,000 after acquiring an additional 7,986 shares during the period. Rhumbline Advisers raised its stake in Wendys by 9.6% in the 3rd quarter. Rhumbline Advisers now owns 416,227 shares of the restaurant operator’s stock valued at $6,464,000 after acquiring an additional 36,538 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Wendys in the 3rd quarter valued at about $863,000. Institutional investors and hedge funds own 80.55% of the company’s stock.
Several equities analysts have weighed in on WEN shares. Barclays dropped their price objective on Wendys from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. SunTrust Banks raised their price objective on Wendys to $22.00 in a research note on Wednesday, January 3rd. Wedbush upgraded Wendys from a “neutral” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Wednesday, December 20th. BidaskClub upgraded Wendys from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. Finally, Oppenheimer started coverage on Wendys in a research note on Monday, March 19th. They set a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. Wendys currently has an average rating of “Hold” and a consensus target price of $17.48.
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Wendys Company Profile
The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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