Matthew H. Peltz Sells 725,000 Shares of Wendy’s (WEN) Stock
Wendy’s (NASDAQ:WEN) Director Matthew H. Peltz sold 725,000 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $16.41, for a total transaction of $11,897,250.00. Following the completion of the sale, the director now directly owns 33,281 shares in the company, valued at $546,141.21. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Wendy’s stock opened at $16.35 on Friday. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 1.53 and a beta of 0.76. The company has a current ratio of 1.77, a quick ratio of 1.76 and a debt-to-equity ratio of 6.00. Wendy’s has a twelve month low of $16.32 and a twelve month high of $16.60.
Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). The company had revenue of $309.25 million during the quarter. Wendy’s had a net margin of 14.55% and a return on equity of 23.01%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. equities analysts forecast that Wendy’s will post 0.55 earnings per share for the current fiscal year.
Wendy’s declared that its board has authorized a stock buyback plan on Thursday, February 15th that authorizes the company to repurchase $175.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors have recently added to or reduced their stakes in WEN. Bank of Montreal Can raised its holdings in Wendy’s by 28.0% in the 4th quarter. Bank of Montreal Can now owns 95,061 shares of the restaurant operator’s stock valued at $1,561,000 after acquiring an additional 20,780 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Wendy’s by 5.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 736,132 shares of the restaurant operator’s stock worth $12,088,000 after purchasing an additional 40,357 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Wendy’s during the fourth quarter worth approximately $220,000. First Quadrant L P CA bought a new position in shares of Wendy’s during the fourth quarter worth approximately $5,816,000. Finally, Boston Advisors LLC bought a new position in shares of Wendy’s during the fourth quarter worth approximately $199,000. 80.08% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on WEN. Argus reaffirmed a “buy” rating and issued a $16.34 target price (down from $19.00) on shares of Wendy’s in a report on Thursday. Zacks Investment Research raised shares of Wendy’s from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a report on Thursday, May 10th. Mizuho began coverage on shares of Wendy’s in a report on Thursday, March 15th. They issued a “buy” rating and a $19.00 target price on the stock. BidaskClub raised shares of Wendy’s from a “strong sell” rating to a “sell” rating in a report on Friday, March 9th. Finally, Oppenheimer began coverage on shares of Wendy’s in a report on Monday, March 19th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.72.
Wendy’s Company Profile
The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.
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