Wendys Co (WEN) Stake Lowered by Nicholas Investment Partners LP
Nicholas Investment Partners LP decreased its holdings in shares of Wendys Co (NASDAQ:WEN) by 18.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,079 shares of the restaurant operator’s stock after selling 58,934 shares during the quarter. Nicholas Investment Partners LP owned 0.11% of Wendys worth $4,070,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of WEN. FMR LLC purchased a new stake in Wendys in the first quarter worth approximately $969,000. Bank of Montreal Can boosted its stake in Wendys by 317.9% in the second quarter. Bank of Montreal Can now owns 56,410 shares of the restaurant operator’s stock worth $875,000 after buying an additional 42,913 shares in the last quarter. Aperio Group LLC boosted its stake in Wendys by 10.1% in the second quarter. Aperio Group LLC now owns 29,354 shares of the restaurant operator’s stock worth $455,000 after buying an additional 2,703 shares in the last quarter. State Treasurer State of Michigan boosted its stake in Wendys by 0.9% in the second quarter. State Treasurer State of Michigan now owns 78,943 shares of the restaurant operator’s stock worth $1,224,000 after buying an additional 700 shares in the last quarter. Finally, ING Groep NV purchased a new stake in Wendys in the second quarter worth approximately $361,000. 76.42% of the stock is owned by institutional investors.
Wendys Co (NASDAQ WEN) opened at $15.35 on Tuesday. The company has a debt-to-equity ratio of 5.83, a quick ratio of 1.78 and a current ratio of 1.80. The company has a market capitalization of $3,589.35, a P/E ratio of 36.15, a P/E/G ratio of 2.61 and a beta of 0.93. Wendys Co has a twelve month low of $12.65 and a twelve month high of $16.66.
Wendys (NASDAQ:WEN) last announced its earnings results on Wednesday, November 8th. The restaurant operator reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The business had revenue of $308.00 million for the quarter. Wendys had a net margin of 5.20% and a return on equity of 20.35%. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. research analysts expect that Wendys Co will post 0.44 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.07 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.82%. Wendys’s dividend payout ratio (DPR) is 112.00%.
A number of analysts have recently weighed in on the company. Longbow Research raised Wendys from a “neutral” rating to a “buy” rating and increased their price objective for the company from $15.23 to $18.00 in a research note on Friday, September 15th. BMO Capital Markets reissued a “buy” rating on shares of Wendys in a research note on Friday, August 11th. Stifel Nicolaus assumed coverage on Wendys in a research note on Monday, October 2nd. They set a “buy” rating and a $18.00 price objective for the company. SunTrust Banks reissued a “buy” rating and set a $18.00 price objective on shares of Wendys in a research note on Monday, October 2nd. Finally, TheStreet lowered Wendys from a “b-” rating to a “c+” rating in a research note on Wednesday, November 8th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.21.
In other news, insider Scott A. Weisberg acquired 10,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was acquired at an average price of $14.29 per share, for a total transaction of $142,900.00. Following the completion of the acquisition, the insider now owns 199,014 shares in the company, valued at $2,843,910.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider E.J. Wunsch sold 3,548 shares of the stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $15.43, for a total value of $54,745.64. The disclosure for this sale can be found here. 26.50% of the stock is currently owned by corporate insiders.
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The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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