Campbell & CO Investment Adviser LLC purchased a new position in shares of Wendys Co (NASDAQ:WEN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,353 shares of the restaurant operator’s stock, valued at approximately $204,000.
Several other hedge funds also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV boosted its holdings in shares of Wendys by 38.4% during the second quarter. Creative Financial Designs Inc. ADV now owns 1,547 shares of the restaurant operator’s stock worth $34,000 after purchasing an additional 429 shares during the period. Harbor Investment Advisory LLC boosted its holdings in shares of Wendys by 10.2% during the first quarter. Harbor Investment Advisory LLC now owns 6,229 shares of the restaurant operator’s stock worth $93,000 after purchasing an additional 574 shares during the period. Sunbelt Securities Inc. acquired a new stake in Wendys in the fourth quarter valued at approximately $3,630,000. First Mercantile Trust Co. lifted its stake in Wendys by 25.6% in the first quarter. First Mercantile Trust Co. now owns 3,315 shares of the restaurant operator’s stock valued at $49,000 after acquiring an additional 675 shares during the last quarter. Finally, Gateway Investment Advisers LLC lifted its stake in Wendys by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 213,293 shares of the restaurant operator’s stock valued at $4,646,000 after acquiring an additional 687 shares during the last quarter. Institutional investors and hedge funds own 67.58% of the company’s stock.
Shares of WEN stock opened at $23.18 on Friday. Wendys Co has a 1 year low of $6.82 and a 1 year high of $24.04. The firm’s fifty day simple moving average is $22.16 and its 200 day simple moving average is $20.16. The firm has a market capitalization of $5.16 billion, a P/E ratio of 42.87, a price-to-earnings-growth ratio of 5.17 and a beta of 1.23. The company has a current ratio of 1.37, a quick ratio of 1.36 and a debt-to-equity ratio of 8.01.
Wendys (NASDAQ:WEN) last announced its earnings results on Wednesday, May 6th. The restaurant operator reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). Wendys had a return on equity of 22.37% and a net margin of 7.01%. The company had revenue of $404.96 million for the quarter, compared to the consensus estimate of $413.02 million. During the same period last year, the firm posted $0.14 EPS. The company’s revenue was down .9% compared to the same quarter last year. Equities research analysts anticipate that Wendys Co will post 0.53 EPS for the current fiscal year.
In other Wendys news, CEO Todd Allan Penegor sold 300,054 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $21.23, for a total value of $6,370,146.42. Following the sale, the chief executive officer now owns 844,992 shares of the company’s stock, valued at approximately $17,939,180.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Abigail E. Pringle sold 20,319 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $20.93, for a total transaction of $425,276.67. Following the completion of the sale, the insider now directly owns 136,307 shares in the company, valued at approximately $2,852,905.51. The disclosure for this sale can be found here. Insiders sold a total of 558,661 shares of company stock worth $11,816,556 in the last three months. Insiders own 20.90% of the company’s stock.
A number of analysts have issued reports on the stock. Bank of America lifted their target price on shares of Wendys from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. lifted their target price on shares of Wendys from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. SunTrust Banks lifted their target price on shares of Wendys from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. MKM Partners lifted their target price on shares of Wendys from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Northcoast Research cut shares of Wendys from a “buy” rating to a “neutral” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $22.58.
Wendys Company 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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