Neuberger Berman Group LLC lessened its holdings in Wendys Co (NASDAQ:WEN) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 617,518 shares of the restaurant operator’s stock after selling 9,336 shares during the quarter. Neuberger Berman Group LLC owned 0.25% of Wendys worth $9,590,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in WEN. WFG Advisors LP increased its stake in shares of Wendys by 50.2% in the second quarter. WFG Advisors LP now owns 7,017 shares of the restaurant operator’s stock valued at $109,000 after buying an additional 2,344 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Wendys by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,495 shares of the restaurant operator’s stock valued at $116,000 after buying an additional 692 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Wendys by 75.7% in the second quarter. Riverhead Capital Management LLC now owns 9,312 shares of the restaurant operator’s stock valued at $144,000 after buying an additional 4,012 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Wendys in the second quarter valued at approximately $219,000. Finally, TIAA FSB acquired a new position in shares of Wendys in the second quarter valued at approximately $223,000. 76.33% of the stock is owned by institutional investors.
In related news, insider Scott A. Weisberg acquired 10,000 shares of Wendys stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $14.29 per share, with a total value of $142,900.00. Following the transaction, the insider now directly owns 199,014 shares in the company, valued at approximately $2,843,910.06. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider E.J. Wunsch sold 3,548 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $15.43, for a total transaction of $54,745.64. The disclosure for this sale can be found here. Company insiders own 26.50% of the company’s stock.
Wendys (NASDAQ:WEN) last announced its quarterly earnings data on Wednesday, November 8th. The restaurant operator reported $0.09 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.03). The company had revenue of $308.00 million for the quarter. Wendys had a return on equity of 20.35% and a net margin of 5.20%. The firm’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. equities research analysts forecast that Wendys Co will post 0.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, November 30th. Wendys’s dividend payout ratio (DPR) is 112.00%.
WEN has been the subject of several recent research reports. Longbow Research raised Wendys from a “neutral” rating to a “buy” rating and upped their price objective for the company from $15.23 to $18.00 in a research note on Friday, September 15th. BMO Capital Markets lowered their price objective on Wendys from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, November 9th. Stifel Nicolaus initiated coverage on Wendys in a research note on Monday, October 2nd. They issued a “buy” rating and a $18.00 price objective for the company. Morgan Stanley increased their target price on shares of Wendys from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, November 9th. Finally, TheStreet downgraded shares of Wendys from a “b-” rating to a “c+” rating in a research report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.63.
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Wendys Company Profile
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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