Matthew H. Peltz Sells 2,000,000 Shares of Wendys Co (NASDAQ:WEN) Stock
Wendys Co (NASDAQ:WEN) Director Matthew H. Peltz sold 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $19.97, for a total value of $39,940,000.00. Following the completion of the transaction, the director now directly owns 5,444,270 shares of the company’s stock, valued at $108,722,071.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of WEN stock traded up $0.16 during trading hours on Friday, hitting $19.95. 4,505,596 shares of the company’s stock were exchanged, compared to its average volume of 3,189,181. 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 firm has a market cap of $4.53 billion, a P/E ratio of 33.81, a P/E/G ratio of 2.18 and a beta of 0.72. The firm has a 50 day moving average of $19.20 and a two-hundred day moving average of $18.44. Wendys Co has a fifty-two week low of $14.96 and a fifty-two week high of $20.30.
Wendys (NASDAQ:WEN) last announced its 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 business had revenue of $435.30 million during the quarter, compared to the consensus estimate of $439.64 million. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. On average, equities analysts forecast that Wendys Co will post 0.63 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Coastal Capital Group Inc. purchased a new stake in shares of Wendys during the second quarter worth approximately $30,000. Coastal Investment Advisors Inc. increased its position in shares of Wendys by 116.6% during the second quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 978 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Wendys by 65.2% during the second quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock worth $43,000 after purchasing an additional 849 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Wendys during the first quarter worth approximately $58,000. Finally, Carroll Financial Associates Inc. increased its position in shares of Wendys by 226.6% during the second quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock worth $75,000 after purchasing an additional 2,658 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.
WEN has been the subject of a number of analyst reports. Stephens boosted their price target on Wendys to $22.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Zacks Investment Research raised Wendys from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Saturday, June 15th. Bank of America set a $20.00 price target on Wendys and gave the company a “hold” rating in a report on Friday, May 10th. Piper Jaffray Companies initiated coverage on Wendys in a report on Monday, May 13th. They issued an “overweight” rating and a $22.00 price target for the company. Finally, Evercore ISI set a $20.00 price target on Wendys and gave the company a “hold” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $20.18.
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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