NN Investment Partners Holdings N.V. bought a new position in shares of Wendys Co (NASDAQ:WEN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,200 shares of the restaurant operator’s stock, valued at approximately $113,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Melvin Capital Management LP acquired a new stake in Wendys in the first quarter valued at $81,840,000. Norges Bank bought a new stake in Wendys during the fourth quarter valued at $43,163,000. JPMorgan Chase & Co. increased its stake in Wendys by 32.2% during the first quarter. JPMorgan Chase & Co. now owns 3,676,518 shares of the restaurant operator’s stock valued at $54,708,000 after purchasing an additional 895,346 shares during the last quarter. Maverick Capital Ltd. bought a new stake in Wendys during the first quarter valued at $11,802,000. Finally, MIK Capital LP bought a new stake in Wendys during the first quarter valued at $10,790,000. 67.58% of the stock is currently owned by institutional investors and hedge funds.
Shares of WEN stock opened at $23.18 on Friday. Wendys Co has a 12 month low of $6.82 and a 12 month high of $24.04. The company has a quick ratio of 1.36, a current ratio of 1.37 and a debt-to-equity ratio of 8.01. The business’s 50 day moving average is $22.16 and its two-hundred day moving average is $20.16. The company has a market cap of $5.16 billion, a PE ratio of 45.45, a price-to-earnings-growth ratio of 5.17 and a beta of 1.23.
Wendys (NASDAQ:WEN) last announced its quarterly earnings results on Wednesday, May 6th. The restaurant operator reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Wendys had a net margin of 7.01% and a return on equity of 22.37%. The company had revenue of $404.96 million for the quarter, compared to analyst estimates of $413.02 million. During the same quarter last year, the business earned $0.14 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts expect that Wendys Co will post 0.53 EPS for the current fiscal year.
In related news, CEO Todd Allan Penegor sold 300,054 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $21.23, for a total value of $6,370,146.42. Following the completion of the transaction, the chief executive officer now directly owns 844,992 shares of the company’s stock, valued at $17,939,180.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Abigail E. Pringle sold 20,319 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $20.93, for a total value of $425,276.67. Following the completion of the transaction, the insider now directly owns 136,307 shares of the company’s stock, valued at $2,852,905.51. The disclosure for this sale can be found here. Insiders sold 558,661 shares of company stock valued at $11,816,556 over the last three months. 20.90% of the stock is owned by company insiders.
Several equities analysts have recently commented on WEN shares. UBS Group lowered their price target on shares of Wendys from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. MKM Partners upped their price target on shares of Wendys from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Credit Suisse Group upped their price target on shares of Wendys from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 10th. Tigress Financial restated a “buy” rating on shares of Wendys in a research report on Monday, July 20th. Finally, SunTrust Banks upped their price target on shares of Wendys from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $22.58.
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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