Bank of New York Mellon Corp lowered its position in shares of Wendys Co (NASDAQ:WEN) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,675,945 shares of the restaurant operator’s stock after selling 47,860 shares during the quarter. Bank of New York Mellon Corp owned about 1.10% of Wendys worth $41,557,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Wendys by 0.3% in the 2nd quarter. BlackRock Inc. now owns 15,432,711 shares of the restaurant operator’s stock worth $239,362,000 after purchasing an additional 41,702 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Wendys in the 2nd quarter worth about $189,448,000. Goldman Sachs Group Inc. raised its position in shares of Wendys by 11.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,095,403 shares of the restaurant operator’s stock worth $32,500,000 after purchasing an additional 207,563 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Wendys by 92.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,434,000 shares of the restaurant operator’s stock worth $22,270,000 after purchasing an additional 688,700 shares during the last quarter. Finally, Balyasny Asset Management LLC raised its position in shares of Wendys by 56.6% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,237,677 shares of the restaurant operator’s stock worth $19,196,000 after purchasing an additional 447,100 shares during the last quarter. 76.42% of the stock is owned by institutional investors and hedge funds.
Shares of Wendys Co (WEN) opened at $15.07 on Thursday. The stock has a market capitalization of $3,722.56, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.71 and a beta of 0.93. Wendys Co has a 52 week low of $13.03 and a 52 week high of $16.66. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.86%. Wendys’s payout ratio is currently 112.00%.
In related news, insider E.J. Wunsch sold 3,548 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $15.43, for a total value of $54,745.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott A. Weisberg purchased 10,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average cost 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 approximately $2,843,910.06. The disclosure for this purchase can be found here. 26.50% of the stock is owned by insiders.
Several equities analysts have recently issued reports on WEN shares. Wedbush reaffirmed a “hold” rating on shares of Wendys in a research report on Wednesday, August 9th. UBS reiterated a “sell” rating and issued a $13.00 price objective (up from $12.00) on shares of Wendys in a report on Thursday, August 10th. BMO Capital Markets reiterated a “buy” rating on shares of Wendys in a report on Friday, August 11th. Royal Bank Of Canada reiterated a “hold” rating and issued a $16.00 price objective on shares of Wendys in a report on Friday, August 11th. Finally, Zacks Investment Research downgraded Wendys from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $16.21.
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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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