Wendys Co (NASDAQ:WEN) Major Shareholder Trian Fund Management, L.P. Sells 475,000 Shares
Wendys Co (NASDAQ:WEN) major shareholder Trian Fund Management, L.P. sold 475,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 5,444,270 shares in the company, valued at approximately $108,340,973. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Wendys stock opened at $19.95 on Friday. The company has a debt-to-equity ratio of 5.67, a current ratio of 1.97 and a quick ratio of 1.96. The company has a market capitalization of $4.54 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. Wendys Co has a one year low of $14.96 and a one year high of $20.30. The business has a 50 day simple moving average of $19.22 and a 200 day simple moving average of $18.45.
Wendys (NASDAQ:WEN) last posted its earnings results on Wednesday, August 7th. The restaurant operator reported $0.18 EPS 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%. Wendys’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.14 EPS. Equities analysts anticipate that Wendys Co will post 0.63 earnings per share for the current fiscal year.
WEN has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on Wendys from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, June 28th. BidaskClub raised Wendys from a “hold” rating to a “buy” rating in a report on Saturday. Wedbush reissued a “hold” rating and set a $20.00 price objective on shares of Wendys in a report on Wednesday, May 8th. Credit Suisse Group initiated coverage on Wendys in a report on Tuesday, June 25th. They set a “neutral” rating and a $20.00 price objective on the stock. Finally, MKM Partners initiated coverage on Wendys in a report on Tuesday. They set a “neutral” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Wendys has a consensus rating of “Hold” and a consensus price target of $20.14.
Several institutional investors have recently bought and sold shares of WEN. Greenleaf Trust bought a new position in Wendys in the 2nd quarter valued at $12,300,000. Foundry Partners LLC acquired a new stake in shares of Wendys in the 2nd quarter valued at $2,017,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Wendys in the 1st quarter valued at $58,000. Wedbush Securities Inc. acquired a new stake in shares of Wendys in the 1st quarter valued at $213,000. Finally, Menta Capital LLC increased its stake in shares of Wendys by 73.6% in the 1st quarter. Menta Capital LLC now owns 53,882 shares of the restaurant operator’s stock valued at $964,000 after buying an additional 22,845 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.
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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