First Commonwealth Financial Corp PA bought a new position in Wendys Co (NASDAQ:WEN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,500 shares of the restaurant operator’s stock, valued at approximately $205,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC purchased a new stake in shares of Wendys in the fourth quarter worth $1,887,000. LPL Financial LLC boosted its position in shares of Wendys by 6.6% during the fourth quarter. LPL Financial LLC now owns 54,933 shares of the restaurant operator’s stock valued at $902,000 after buying an additional 3,401 shares during the last quarter. PEAK6 Investments L.P. boosted its position in shares of Wendys by 667.2% during the fourth quarter. PEAK6 Investments L.P. now owns 208,218 shares of the restaurant operator’s stock valued at $3,419,000 after buying an additional 181,077 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Wendys by 15.1% during the fourth quarter. Meadow Creek Investment Management LLC now owns 30,044 shares of the restaurant operator’s stock valued at $493,000 after buying an additional 3,948 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of Wendys by 8.7% during the fourth quarter. Raymond James & Associates now owns 146,231 shares of the restaurant operator’s stock valued at $2,401,000 after buying an additional 11,718 shares during the last quarter. 80.54% of the stock is currently owned by hedge funds and other institutional investors.
Wendys stock opened at $17.37 on Thursday. The stock has a market capitalization of $4,108.35, a PE ratio of 22.27, a price-to-earnings-growth ratio of 1.87 and a beta of 0.81. The company has a debt-to-equity ratio of 4.75, a current ratio of 1.78 and a quick ratio of 1.77. Wendys Co has a 12-month low of $13.03 and a 12-month high of $17.66.
Wendys (NASDAQ:WEN) last announced its earnings results on Wednesday, February 21st. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $309.25 million during the quarter. Wendys had a return on equity of 21.24% and a net margin of 15.86%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 earnings per share. equities analysts anticipate that Wendys Co will post 0.55 EPS for the current fiscal year.
Wendys declared that its board has approved a stock repurchase program on Thursday, February 15th that authorizes the company to repurchase $175.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 1.96%. This is a boost from Wendys’s previous quarterly dividend of $0.07. The ex-dividend date was Wednesday, February 28th. Wendys’s dividend payout ratio (DPR) is presently 43.59%.
In other news, major shareholder Trian Partners Parallel Fund I sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $16.50, for a total value of $82,500,000.00. Following the transaction, the insider now owns 5,409,971 shares of the company’s stock, valued at $89,264,521.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gunther Plosch acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was bought at an average cost of $16.62 per share, for a total transaction of $83,100.00. Following the purchase, the chief financial officer now directly owns 25,000 shares of the company’s stock, valued at $415,500. The disclosure for this purchase can be found here. 26.50% of the stock is owned by company insiders.
Several equities research analysts recently commented on WEN shares. Barclays dropped their price objective on Wendys from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. SunTrust Banks increased their price objective on Wendys to $22.00 in a research report on Wednesday, January 3rd. Wedbush raised Wendys from a “neutral” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Wednesday, December 20th. BidaskClub raised Wendys from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Oppenheimer started coverage on Wendys in a research report on Monday. They set a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. Wendys has a consensus rating of “Hold” and a consensus price target of $17.48.
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Wendys Company Profile
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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