The Wendy’s Company (NASDAQ:WEN) CEO Todd Allan Penegor Sells 649,626 Shares

The Wendy’s Company (NASDAQ:WEN) CEO Todd Allan Penegor sold 649,626 shares of the business’s stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $26.72, for a total value of $17,358,006.72. Following the completion of the transaction, the chief executive officer now owns 1,258,191 shares in the company, valued at $33,618,863.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NASDAQ WEN traded down $0.79 during trading hours on Thursday, reaching $24.42. The stock had a trading volume of 11,441,343 shares, compared to its average volume of 4,190,396. The company has a current ratio of 1.62, a quick ratio of 1.61 and a debt-to-equity ratio of 5.20. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 38.27, a price-to-earnings-growth ratio of 2.27 and a beta of 0.95. The company has a fifty day moving average price of $22.74. The Wendy’s Company has a 52-week low of $18.86 and a 52-week high of $29.46.

The Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Wednesday, May 12th. The restaurant operator reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $460.20 million during the quarter, compared to analyst estimates of $443.02 million. The Wendy’s had a return on equity of 29.74% and a net margin of 8.09%. The Wendy’s’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. As a group, equities research analysts anticipate that The Wendy’s Company will post 0.73 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, May 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.64%. This is a positive change from The Wendy’s’s previous quarterly dividend of $0.09. The Wendy’s’s dividend payout ratio is currently 70.18%.

A number of equities research analysts recently commented on WEN shares. Cleveland Research started coverage on The Wendy’s in a research report on Friday, March 12th. They issued a “neutral” rating on the stock. Zacks Investment Research cut The Wendy’s from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Wednesday. Wedbush boosted their price objective on The Wendy’s from $27.00 to $28.50 and gave the stock an “outperform” rating in a research note on Wednesday, May 12th. JPMorgan Chase & Co. boosted their price objective on The Wendy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, April 12th. They noted that the move was a valuation call. Finally, Stifel Nicolaus cut The Wendy’s from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $25.84.

A number of institutional investors have recently bought and sold shares of the business. Stratos Wealth Partners LTD. lifted its holdings in The Wendy’s by 2.1% during the first quarter. Stratos Wealth Partners LTD. now owns 23,830 shares of the restaurant operator’s stock worth $483,000 after buying an additional 500 shares during the period. Thrivent Financial for Lutherans lifted its holdings in The Wendy’s by 1.4% during the first quarter. Thrivent Financial for Lutherans now owns 47,606 shares of the restaurant operator’s stock worth $964,000 after buying an additional 672 shares during the period. CI Investments Inc. lifted its holdings in The Wendy’s by 22.3% during the fourth quarter. CI Investments Inc. now owns 4,628 shares of the restaurant operator’s stock worth $101,000 after buying an additional 844 shares during the period. TruWealth Advisors LLC lifted its holdings in The Wendy’s by 8.6% during the first quarter. TruWealth Advisors LLC now owns 10,755 shares of the restaurant operator’s stock worth $218,000 after buying an additional 850 shares during the period. Finally, Vectors Research Management LLC lifted its holdings in The Wendy’s by 154.5% during the fourth quarter. Vectors Research Management LLC now owns 1,652 shares of the restaurant operator’s stock worth $36,000 after buying an additional 1,003 shares during the period. Institutional investors own 72.33% of the company’s stock.

About The Wendy’s

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company. It operates through three segments: Wendy's U.S., Wendy's International, and Global Real Estate & Development. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.

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