Wendys Co (WEN) Position Cut by Sigma Planning Corp

Sigma Planning Corp lowered its holdings in shares of Wendys Co (NASDAQ:WEN) by 28.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,099 shares of the restaurant operator’s stock after selling 4,395 shares during the quarter. Sigma Planning Corp’s holdings in Wendys were worth $173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc lifted its holdings in shares of Wendys by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 16,598,478 shares of the restaurant operator’s stock worth $284,498,000 after buying an additional 220,643 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Wendys by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 16,598,478 shares of the restaurant operator’s stock worth $284,498,000 after buying an additional 220,643 shares during the period. BlackRock Inc. lifted its holdings in shares of Wendys by 4.2% in the 3rd quarter. BlackRock Inc. now owns 16,211,392 shares of the restaurant operator’s stock worth $277,863,000 after buying an additional 652,622 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Wendys by 0.4% in the 3rd quarter. Wells Fargo & Company MN now owns 9,875,077 shares of the restaurant operator’s stock worth $169,259,000 after buying an additional 37,221 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Wendys by 4.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,577,861 shares of the restaurant operator’s stock worth $44,184,000 after buying an additional 110,443 shares during the period. Institutional investors own 76.25% of the company’s stock.

In related news, COO Robert D. Wright sold 28,300 shares of the company’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $17.78, for a total transaction of $503,174.00. Following the completion of the sale, the chief operating officer now directly owns 48,467 shares in the company, valued at approximately $861,743.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 23.10% of the company’s stock.

WEN has been the subject of several research reports. Mizuho set a $20.00 target price on Wendys and gave the stock a “buy” rating in a report on Thursday, November 8th. Wedbush reiterated a “buy” rating and issued a $20.00 target price on shares of Wendys in a report on Wednesday, November 7th. Gordon Haskett initiated coverage on Wendys in a report on Thursday, October 18th. They issued a “buy” rating and a $20.00 target price for the company. ValuEngine upgraded Wendys from a “hold” rating to a “buy” rating in a report on Saturday, November 10th. Finally, BidaskClub upgraded Wendys from a “hold” rating to a “buy” rating in a report on Thursday, November 22nd. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Wendys currently has a consensus rating of “Buy” and an average target price of $19.65.

Shares of NASDAQ WEN opened at $17.71 on Wednesday. The company has a debt-to-equity ratio of 3.52, a current ratio of 2.52 and a quick ratio of 2.51. The firm has a market cap of $4.18 billion, a P/E ratio of 41.19, a P/E/G ratio of 1.30 and a beta of 0.80. Wendys Co has a 1-year low of $14.96 and a 1-year high of $18.68.

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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.

Read More: Cost of Capital Explained

Institutional Ownership by Quarter for Wendys (NASDAQ:WEN)

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