Wendys Co (NASDAQ:WEN) Director Matthew H. Peltz Sells 2,000,000 Shares

Wendys Co (NASDAQ:WEN) Director Matthew H. Peltz sold 2,000,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 5,444,270 shares in the company, valued at $108,722,071.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NASDAQ WEN opened at $19.95 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.96 and a debt-to-equity ratio of 5.67. The stock’s 50 day moving average is $19.22 and its two-hundred day moving average is $18.45. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 2.18 and a beta of 0.72. Wendys Co has a 1-year low of $14.96 and a 1-year high of $20.30.

Wendys (NASDAQ:WEN) last released its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $435.30 million for 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 company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. On average, analysts predict that Wendys Co will post 0.63 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, August 30th. Wendys’s payout ratio is 67.80%.

Several brokerages recently issued reports on WEN. BMO Capital Markets boosted their price target on Wendys from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Goldman Sachs Group began coverage on Wendys in a research note on Monday, July 29th. They set a “sell” rating and a $17.50 price target on the stock. Piper Jaffray Companies began coverage on Wendys in a research note on Monday, May 13th. They set an “overweight” rating and a $22.00 price target on the stock. Credit Suisse Group began coverage on Wendys in a research note on Tuesday, June 25th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Bank of America set a $20.00 price target on Wendys and gave the company a “hold” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.14.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. raised its position in shares of Wendys by 70.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 968,959 shares of the restaurant operator’s stock valued at $18,973,000 after acquiring an additional 401,238 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Wendys by 16.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 13,600 shares of the restaurant operator’s stock valued at $266,000 after acquiring an additional 1,881 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Wendys during the 2nd quarter valued at $14,113,000. Price T Rowe Associates Inc. MD raised its position in shares of Wendys by 1,369.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,612,184 shares of the restaurant operator’s stock valued at $31,567,000 after acquiring an additional 1,502,470 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Wendys by 1.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 900,064 shares of the restaurant operator’s stock valued at $17,623,000 after acquiring an additional 14,327 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

About Wendys

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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