Piedmont Investment Advisors LLC Has $1.15 Million Stake in Wendys Co (WEN)
Piedmont Investment Advisors LLC reduced its stake in shares of Wendys Co (NASDAQ:WEN) by 30.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,235 shares of the restaurant operator’s stock after selling 32,232 shares during the period. Piedmont Investment Advisors LLC’s holdings in Wendys were worth $1,153,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of WEN. Bank of Montreal Can lifted its holdings in Wendys by 317.9% in the 2nd quarter. Bank of Montreal Can now owns 56,410 shares of the restaurant operator’s stock worth $875,000 after purchasing an additional 42,913 shares in the last quarter. Aperio Group LLC lifted its holdings in Wendys by 10.1% in the 2nd quarter. Aperio Group LLC now owns 29,354 shares of the restaurant operator’s stock worth $455,000 after purchasing an additional 2,703 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Wendys by 3.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 120,505 shares of the restaurant operator’s stock worth $1,868,000 after purchasing an additional 3,752 shares in the last quarter. World Asset Management Inc lifted its holdings in Wendys by 15.4% in the 2nd quarter. World Asset Management Inc now owns 15,112 shares of the restaurant operator’s stock worth $234,000 after purchasing an additional 2,012 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Wendys by 83.8% in the 2nd quarter. Sei Investments Co. now owns 51,095 shares of the restaurant operator’s stock worth $792,000 after purchasing an additional 23,289 shares in the last quarter. 76.42% of the stock is currently owned by institutional investors.
A number of research analysts recently commented on WEN shares. Zacks Investment Research cut Wendys from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Credit Suisse Group decreased their price objective on Wendys from $15.75 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 9th. Morgan Stanley upped their price objective on Wendys from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, November 9th. Royal Bank of Canada reaffirmed a “hold” rating and set a $16.00 price objective on shares of Wendys in a report on Tuesday, November 7th. Finally, BidaskClub cut Wendys from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.21.
Wendys (NASDAQ:WEN) last released its earnings results on Wednesday, November 8th. The restaurant operator reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). The company had revenue of $308.00 million for the quarter. Wendys had a net margin of 5.20% and a return on equity of 20.35%. The business’s revenue was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 earnings per share. analysts forecast that Wendys Co will post 0.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, November 30th. Wendys’s dividend payout ratio is currently 112.00%.
In other Wendys news, insider E.J. Wunsch sold 3,548 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $15.43, for a total value of $54,745.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott A. Weisberg acquired 10,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $14.29 per share, for a total transaction of $142,900.00. Following the transaction, the insider now directly owns 199,014 shares in the company, valued at $2,843,910.06. The disclosure for this purchase can be found here. Insiders own 26.50% of the company’s stock.
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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