Wendys Co (WEN) COO Robert D. Wright Sells 454,793 Shares

Wendys Co (NASDAQ:WEN) COO Robert D. Wright sold 454,793 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $18.60, for a total transaction of $8,459,149.80. Following the completion of the sale, the chief operating officer now owns 237,425 shares in the company, valued at $4,416,105. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Robert D. Wright also recently made the following trade(s):

  • On Friday, May 10th, Robert D. Wright sold 126,629 shares of Wendys stock. The stock was sold at an average price of $18.74, for a total transaction of $2,373,027.46.
  • On Monday, May 13th, Robert D. Wright sold 109,110 shares of Wendys stock. The stock was sold at an average price of $18.58, for a total transaction of $2,027,263.80.

Shares of NASDAQ WEN traded up $0.11 on Friday, reaching $18.83. 111,421 shares of the company traded hands, compared to its average volume of 3,068,311. Wendys Co has a fifty-two week low of $14.96 and a fifty-two week high of $19.45. The company has a debt-to-equity ratio of 5.80, a current ratio of 2.05 and a quick ratio of 2.04. The company has a market cap of $4.31 billion, a P/E ratio of 31.80, a P/E/G ratio of 2.07 and a beta of 0.77.

Wendys (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, May 8th. The restaurant operator reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. Wendys had a net margin of 29.16% and a return on equity of 23.85%. The company had revenue of $408.60 million during the quarter, compared to the consensus estimate of $398.58 million. During the same quarter in the prior year, the company posted $0.11 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Wendys Co will post 0.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Friday, May 31st. Wendys’s dividend payout ratio is currently 67.80%.

Several large investors have recently modified their holdings of WEN. Norges Bank purchased a new stake in shares of Wendys during the 4th quarter worth about $56,554,000. FMR LLC grew its holdings in shares of Wendys by 280.4% during the 4th quarter. FMR LLC now owns 2,824,291 shares of the restaurant operator’s stock worth $44,086,000 after purchasing an additional 2,081,924 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Wendys by 171.1% during the 4th quarter. Two Sigma Advisers LP now owns 2,642,829 shares of the restaurant operator’s stock worth $41,255,000 after purchasing an additional 1,667,800 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Wendys by 1,553.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,163,242 shares of the restaurant operator’s stock worth $75,000 after purchasing an additional 1,092,875 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Wendys by 57.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,956,664 shares of the restaurant operator’s stock worth $52,895,000 after purchasing an additional 1,074,389 shares during the period. Institutional investors and hedge funds own 78.70% of the company’s stock.

WEN has been the subject of several analyst reports. Bank of America set a $20.00 target price on shares of Wendys and gave the company a “hold” rating in a research note on Friday, May 10th. Cowen initiated coverage on shares of Wendys in a research note on Wednesday, April 10th. They issued an “outperform” rating and a $21.00 target price for the company. Mizuho downgraded shares of Wendys from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Wednesday, March 20th. Stephens boosted their target price on shares of Wendys to $22.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets boosted their target price on shares of Wendys from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.42.

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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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