Wendys Co (WEN) is Trian Fund Management L.P.’s 7th Largest Position

Trian Fund Management L.P. trimmed its stake in Wendys Co (NASDAQ:WEN) by 12.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,035,921 shares of the restaurant operator’s stock after selling 5,000,000 shares during the period. Wendys comprises about 6.0% of Trian Fund Management L.P.’s investment portfolio, making the stock its 7th largest position. Trian Fund Management L.P. owned 14.23% of Wendys worth $597,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Bank of Montreal Can grew its holdings in shares of Wendys by 28.0% during the fourth quarter. Bank of Montreal Can now owns 95,061 shares of the restaurant operator’s stock worth $1,561,000 after purchasing an additional 20,780 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Wendys by 5.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 736,132 shares of the restaurant operator’s stock worth $12,088,000 after purchasing an additional 40,357 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Wendys by 27.1% during the fourth quarter. SG Americas Securities LLC now owns 32,515 shares of the restaurant operator’s stock worth $534,000 after purchasing an additional 6,937 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Wendys by 50.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,248 shares of the restaurant operator’s stock worth $185,000 after purchasing an additional 3,753 shares during the last quarter. Finally, ING Groep NV grew its holdings in shares of Wendys by 22.6% during the fourth quarter. ING Groep NV now owns 27,409 shares of the restaurant operator’s stock worth $450,000 after purchasing an additional 5,047 shares during the last quarter. Hedge funds and other institutional investors own 80.65% of the company’s stock.

In other Wendys news, major shareholder Edward P. Garden sold 764,000 shares of the stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $16.53, for a total value of $12,628,920.00. Following the transaction, the insider now owns 240,365 shares of the company’s stock, valued at $3,973,233.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew H. Peltz sold 725,000 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $16.41, for a total value of $11,897,250.00. Following the completion of the transaction, the director now directly owns 33,281 shares in the company, valued at approximately $546,141.21. The disclosure for this sale can be found here. Insiders sold 3,894,292 shares of company stock worth $64,045,118 in the last three months. Insiders own 23.10% of the company’s stock.

Wendys stock opened at $17.77 on Thursday. The stock has a market capitalization of $4.26 billion, a P/E ratio of 41.33, a PEG ratio of 1.64 and a beta of 0.74. Wendys Co has a 12-month low of $13.57 and a 12-month high of $18.01. The company has a current ratio of 1.77, a quick ratio of 1.76 and a debt-to-equity ratio of 6.00.

Wendys (NASDAQ:WEN) last released its earnings results on Tuesday, May 8th. The restaurant operator reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Wendys had a return on equity of 23.01% and a net margin of 14.55%. The firm had revenue of $380.56 million for the quarter. During the same period in the previous year, the company posted $0.09 EPS. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. equities analysts predict that Wendys Co will post 0.56 earnings per share for the current fiscal year.

Wendys declared that its board has authorized a stock repurchase plan on Thursday, February 15th that authorizes the company to repurchase $175.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be paid a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, May 31st. Wendys’s payout ratio is 79.07%.

WEN has been the topic of several research analyst reports. Guggenheim upgraded Wendys from a “neutral” rating to a “buy” rating in a report on Friday, February 16th. Wedbush restated a “buy” rating and set a $20.00 target price on shares of Wendys in a report on Thursday, February 22nd. Stifel Nicolaus raised their price target on Wendys from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, April 18th. BidaskClub cut Wendys from a “sell” rating to a “strong sell” rating in a report on Friday, February 16th. Finally, Argus reiterated a “buy” rating and issued a $16.60 price target (down previously from $19.00) on shares of Wendys in a report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $17.77.

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.

Institutional Ownership by Quarter for Wendys (NASDAQ:WEN)

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