Point72 Asset Management L.P. Sells 1,715,376 Shares of Wendys Co (NASDAQ:WEN)

Point72 Asset Management L.P. lowered its stake in shares of Wendys Co (NASDAQ:WEN) by 72.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 643,191 shares of the restaurant operator’s stock after selling 1,715,376 shares during the quarter. Point72 Asset Management L.P.’s holdings in Wendys were worth $14,285,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WEN. Valeo Financial Advisors LLC grew its position in Wendys by 5.4% in the fourth quarter. Valeo Financial Advisors LLC now owns 10,294 shares of the restaurant operator’s stock valued at $229,000 after acquiring an additional 527 shares during the last quarter. State of Michigan Retirement System boosted its stake in shares of Wendys by 1.1% in the 4th quarter. State of Michigan Retirement System now owns 54,143 shares of the restaurant operator’s stock valued at $1,203,000 after purchasing an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Wendys by 6.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,099 shares of the restaurant operator’s stock valued at $291,000 after purchasing an additional 777 shares in the last quarter. 6 Meridian grew its holdings in shares of Wendys by 3.1% during the 4th quarter. 6 Meridian now owns 28,354 shares of the restaurant operator’s stock valued at $630,000 after purchasing an additional 856 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Wendys by 6.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,644 shares of the restaurant operator’s stock valued at $347,000 after purchasing an additional 947 shares during the last quarter. 73.29% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on the stock. Wedbush reissued a “hold” rating and issued a $22.00 price objective on shares of Wendys in a research note on Thursday, February 27th. Tigress Financial reaffirmed a “buy” rating on shares of Wendys in a research note on Thursday, December 19th. MKM Partners upped their price target on shares of Wendys from to in a report on Thursday, February 27th. Wells Fargo & Co increased their price target on Wendys from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Finally, Telsey Advisory Group increased their price target on Wendys from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the stock. Wendys currently has a consensus rating of “Hold” and a consensus target price of $23.02.

WEN traded down $0.47 during midday trading on Thursday, hitting $13.95. 10,668,925 shares of the company were exchanged, compared to its average volume of 4,188,810. The firm’s 50 day moving average price is $19.01 and its 200-day moving average price is $20.70. Wendys Co has a 1-year low of $6.82 and a 1-year high of $24.04. The firm has a market capitalization of $3.14 billion, a P/E ratio of 23.64, a P/E/G ratio of 1.78 and a beta of 0.84. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 7.04.

Wendys (NASDAQ:WEN) last issued its quarterly earnings data on Wednesday, February 26th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). The company had revenue of $427.20 million for the quarter, compared to the consensus estimate of $423.70 million. Wendys had a return on equity of 22.61% and a net margin of 8.01%. Wendys’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 earnings per share. On average, sell-side analysts predict that Wendys Co will post 0.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.48 annualized dividend and a yield of 3.44%. Wendys’s payout ratio is 81.36%.

Wendys Profile

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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