Wendys Co (WEN) Stake Increased by Squarepoint Ops LLC

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Squarepoint Ops LLC grew its stake in shares of Wendys Co (NASDAQ:WEN) by 44.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 864,449 shares of the restaurant operator’s stock after acquiring an additional 267,572 shares during the period. Squarepoint Ops LLC’s holdings in Wendys were worth $13,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of WEN. Russell Investments Group Ltd. boosted its stake in shares of Wendys by 3.2% during the third quarter. Russell Investments Group Ltd. now owns 262,285 shares of the restaurant operator’s stock valued at $4,495,000 after purchasing an additional 8,130 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Wendys by 14.0% during the third quarter. Commonwealth Equity Services LLC now owns 45,392 shares of the restaurant operator’s stock valued at $778,000 after purchasing an additional 5,582 shares during the period. SG Americas Securities LLC boosted its stake in shares of Wendys by 32.7% during the third quarter. SG Americas Securities LLC now owns 75,338 shares of the restaurant operator’s stock valued at $1,291,000 after purchasing an additional 18,565 shares during the period. JPMorgan Chase & Co. lifted its stake in Wendys by 64.7% in the third quarter. JPMorgan Chase & Co. now owns 194,086 shares of the restaurant operator’s stock worth $3,326,000 after acquiring an additional 76,279 shares during the period. Finally, Prudential Financial Inc. lifted its stake in Wendys by 74.6% in the third quarter. Prudential Financial Inc. now owns 202,571 shares of the restaurant operator’s stock worth $3,472,000 after acquiring an additional 86,550 shares during the period. 74.69% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Abigail E. Pringle sold 8,897 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $17.35, for a total transaction of $154,362.95. Following the transaction, the insider now owns 100,917 shares in the company, valued at $1,750,909.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Trian Fund Management, L.P. sold 3,000,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $17.11, for a total transaction of $51,330,000.00. The disclosure for this sale can be found here. Corporate insiders own 23.10% of the company’s stock.

Shares of WEN stock traded up $0.02 during mid-day trading on Thursday, hitting $16.33. 43,457 shares of the stock traded hands, compared to its average volume of 5,149,511. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.01 and a beta of 0.77. Wendys Co has a 52-week low of $14.96 and a 52-week high of $18.68. The company has a debt-to-equity ratio of 4.25, a quick ratio of 2.33 and a current ratio of 2.34.

Wendys (NASDAQ:WEN) last released its quarterly earnings results on Thursday, February 21st. The restaurant operator reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The business had revenue of $397.82 million during the quarter, compared to analyst estimates of $399.89 million. Wendys had a net margin of 28.94% and a return on equity of 24.68%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. As a group, equities analysts predict that Wendys Co will post 0.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.45%. This is a positive change from Wendys’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, February 28th. Wendys’s dividend payout ratio is presently 67.80%.

A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Wendys from a “buy” rating to a “hold” rating in a research note on Saturday, December 1st. Wedbush reaffirmed a “hold” rating and issued a $17.50 price objective on shares of Wendys in a research note on Monday, February 11th. Mizuho lowered shares of Wendys from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Wednesday. ValuEngine lowered shares of Wendys from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Finally, CIBC raised shares of Wendys from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Wednesday, January 9th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Wendys currently has a consensus rating of “Hold” and an average price target of $19.73.

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Wendys Profile

The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.

Further Reading: The basics of gap trading strategies

Want to see what other hedge funds are holding WEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wendys Co (NASDAQ:WEN).

Institutional Ownership by Quarter for Wendys (NASDAQ:WEN)

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