The Wendy’s Company (NASDAQ:WEN) Shares Sold by Trian Fund Management L.P.

Trian Fund Management L.P. lessened its holdings in shares of The Wendy’s Company (NASDAQ:WEN) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 30,512,595 shares of the restaurant operator’s stock after selling 995,273 shares during the period. Wendy’s accounts for approximately 13.7% of Trian Fund Management L.P.’s portfolio, making the stock its 3rd biggest holding. Trian Fund Management L.P. owned 0.15% of Wendy’s worth $534,581,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL purchased a new position in Wendy’s in the second quarter valued at about $27,000. Quarry LP acquired a new position in Wendy’s in the second quarter worth approximately $30,000. Bessemer Group Inc. raised its position in Wendy’s by 483.2% during the first quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock valued at $35,000 after acquiring an additional 1,551 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Wendy’s in the second quarter valued at approximately $33,000. Finally, Abich Financial Wealth Management LLC bought a new stake in Wendy’s in the first quarter worth approximately $44,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Wendy’s from $20.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Tigress Financial reiterated a “buy” rating and issued a $29.00 target price on shares of Wendy’s in a report on Wednesday, September 4th. Piper Sandler lowered their price target on Wendy’s from $23.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on Wendy’s from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of Wendy’s in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.36.

Wendy’s Price Performance

Wendy’s stock traded up $0.16 during mid-day trading on Wednesday, hitting $18.55. 258,195 shares of the company were exchanged, compared to its average volume of 3,515,589. The Wendy’s Company has a 1-year low of $15.61 and a 1-year high of $20.65. The company has a quick ratio of 2.08, a current ratio of 2.10 and a debt-to-equity ratio of 12.64. The business has a fifty day moving average of $18.61 and a 200 day moving average of $17.60. The company has a market capitalization of $3.78 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 2.59 and a beta of 0.79.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. The firm had revenue of $566.70 million during the quarter, compared to the consensus estimate of $560.50 million. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. As a group, sell-side analysts expect that The Wendy’s Company will post 0.99 earnings per share for the current year.

Wendy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Monday, December 2nd. Wendy’s’s payout ratio is presently 105.26%.

Wendy’s Profile

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.