Wendys Co (NASDAQ:WEN) Shares Sold by Swiss National Bank

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Swiss National Bank reduced its holdings in Wendys Co (NASDAQ:WEN) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 342,700 shares of the restaurant operator’s stock after selling 2,500 shares during the quarter. Swiss National Bank owned 0.15% of Wendys worth $6,710,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Wendys by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 1,917,851 shares of the restaurant operator’s stock valued at $29,937,000 after buying an additional 113,514 shares during the period. Strs Ohio acquired a new stake in Wendys during the first quarter worth about $350,000. Mercer Global Advisors Inc. ADV acquired a new stake in Wendys during the first quarter valued at approximately $243,000. BNP Paribas Arbitrage SA boosted its holdings in Wendys by 1,649.4% during the first quarter. BNP Paribas Arbitrage SA now owns 54,897 shares of the restaurant operator’s stock valued at $982,000 after purchasing an additional 51,759 shares in the last quarter. Finally, World Asset Management Inc boosted its holdings in Wendys by 14.5% during the first quarter. World Asset Management Inc now owns 14,021 shares of the restaurant operator’s stock valued at $251,000 after purchasing an additional 1,777 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

WEN opened at $21.59 on Wednesday. The firm has a market cap of $4.86 billion, a PE ratio of 36.58, a P/E/G ratio of 2.33 and a beta of 0.72. The company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67. The business has a fifty day simple moving average of $19.48 and a 200-day simple moving average of $18.63. Wendys Co has a fifty-two week low of $14.96 and a fifty-two week high of $21.77.

Wendys (NASDAQ:WEN) last released its earnings results on Wednesday, August 7th. The restaurant operator reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The business had revenue of $435.30 million for the quarter, compared to the consensus estimate of $439.64 million. During the same period last year, the business earned $0.14 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts anticipate that Wendys Co will post 0.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, August 30th. Wendys’s payout ratio is 67.80%.

In related news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total value of $9,452,500.00. Following the completion of the transaction, the insider now owns 5,444,270 shares in the company, valued at approximately $108,340,973. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew H. Peltz sold 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $19.97, for a total transaction of $39,940,000.00. Following the completion of the transaction, the director now owns 5,444,270 shares of the company’s stock, valued at approximately $108,722,071.90. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.

A number of research firms have weighed in on WEN. ValuEngine raised Wendys from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Credit Suisse Group began coverage on Wendys in a report on Tuesday, June 25th. They issued a “neutral” rating and a $20.00 target price on the stock. MKM Partners began coverage on shares of Wendys in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Wendys from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Finally, Zacks Investment Research cut shares of Wendys from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. Wendys presently has an average rating of “Buy” and a consensus price target of $20.21.

Wendys 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.

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Institutional Ownership by Quarter for Wendys (NASDAQ:WEN)

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