Wendys Co (WEN) Director Emil J. Brolick Sells 540,540 Shares
Wendys Co (NASDAQ:WEN) Director Emil J. Brolick sold 540,540 shares of Wendys stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $17.14, for a total value of $9,264,855.60. Following the completion of the transaction, the director now owns 1,371,835 shares of the company’s stock, valued at $23,513,251.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Wendys Co (WEN) opened at $17.52 on Friday. The firm has a market capitalization of $4,340.00, a P/E ratio of 87.60, a PEG ratio of 1.86 and a beta of 0.81. The company has a current ratio of 1.78, a quick ratio of 1.77 and a debt-to-equity ratio of 4.75. Wendys Co has a twelve month low of $13.03 and a twelve month high of $17.66.
Wendys (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 Zacks’ consensus estimate of $0.12 by ($0.01). The business had revenue of $309.25 million for the quarter. Wendys had a net margin of 15.86% and a return on equity of 21.24%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 earnings per share. sell-side analysts forecast that Wendys Co will post 0.55 EPS for the current year.
Wendys announced that its board has authorized a share buyback plan on Thursday, February 15th that allows the company to buyback $175.00 million in outstanding shares. This buyback authorization allows the restaurant operator to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
A number of equities analysts recently commented on the company. Longbow Research upgraded Wendys from a “neutral” rating to a “buy” rating in a research note on Thursday. BidaskClub downgraded Wendys from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Citigroup lifted their price target on Wendys from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, March 5th. Royal Bank of Canada reiterated a “hold” rating and issued a $18.00 price target on shares of Wendys in a research note on Friday, December 22nd. Finally, Wedbush reiterated a “buy” rating and issued a $20.00 price target on shares of Wendys in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $17.40.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Wendys by 50.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,248 shares of the restaurant operator’s stock valued at $185,000 after buying an additional 3,753 shares during the last quarter. Boston Advisors LLC bought a new stake in shares of Wendys during the fourth quarter valued at approximately $199,000. First Commonwealth Financial Corp PA bought a new stake in shares of Wendys during the fourth quarter valued at approximately $205,000. State of Alaska Department of Revenue bought a new stake in shares of Wendys during the fourth quarter valued at approximately $220,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Wendys during the fourth quarter valued at approximately $234,000. 79.47% of the stock is currently owned by institutional investors.
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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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