Burney Co. Acquires Shares of 14,119 Wendys Co (NASDAQ:WEN)

Burney Co. bought a new position in shares of Wendys Co (NASDAQ:WEN) during the first quarter, Holdings Channel reports. The institutional investor bought 14,119 shares of the restaurant operator’s stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Comerica Bank increased its holdings in Wendys by 0.6% during the fourth quarter. Comerica Bank now owns 89,585 shares of the restaurant operator’s stock worth $1,533,000 after buying an additional 572 shares during the last quarter. NumerixS Investment Technologies Inc boosted its position in Wendys by 1.0% during the first quarter. NumerixS Investment Technologies Inc now owns 66,250 shares of the restaurant operator’s stock worth $1,172,000 after purchasing an additional 625 shares during the period. Envestnet Asset Management Inc. boosted its position in Wendys by 3.7% during the first quarter. Envestnet Asset Management Inc. now owns 17,758 shares of the restaurant operator’s stock worth $318,000 after purchasing an additional 638 shares during the period. State of Alaska Department of Revenue boosted its position in Wendys by 1.1% during the first quarter. State of Alaska Department of Revenue now owns 62,768 shares of the restaurant operator’s stock worth $1,122,000 after purchasing an additional 713 shares during the period. Finally, Advisor Group Inc. boosted its position in Wendys by 7.3% during the fourth quarter. Advisor Group Inc. now owns 11,660 shares of the restaurant operator’s stock worth $182,000 after purchasing an additional 797 shares during the period. Institutional investors and hedge funds own 77.59% of the company’s stock.

In related news, COO Robert D. Wright sold 454,793 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were 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 of the company’s stock, valued at $4,416,105. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 690,532 shares of company stock valued at $12,859,441 in the last ninety days. 20.90% of the stock is currently owned by company insiders.

Shares of Wendys stock opened at $19.40 on Friday. The stock has a market capitalization of $4.47 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 2.14 and a beta of 0.75. Wendys Co has a 52-week low of $14.96 and a 52-week high of $20.14. The company has a debt-to-equity ratio of 5.80, a current ratio of 2.05 and a quick ratio of 2.04.

Wendys (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, May 8th. The restaurant operator reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $408.60 million during the quarter, compared to analysts’ expectations of $398.58 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. Wendys’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts anticipate that Wendys Co will post 0.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.10 per share. The ex-dividend date is Friday, May 31st. This represents a $0.40 annualized dividend and a yield of 2.06%. Wendys’s dividend payout ratio is 67.80%.

WEN has been the subject of a number of research analyst reports. BidaskClub cut shares of Wendys from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Wedbush reaffirmed a “hold” rating and set a $20.00 price objective on shares of Wendys in a research report on Wednesday, May 8th. ValuEngine raised shares of Wendys from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Zacks Investment Research raised shares of Wendys from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Monday, May 13th. Finally, Piper Jaffray Companies assumed coverage on shares of Wendys in a research report on Monday, May 13th. They issued an “overweight” rating and a $22.00 target price for the company. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $20.39.

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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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Institutional Ownership by Quarter for Wendys (NASDAQ:WEN)

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