Wendys Sees Unusually Large Options Volume (WEN)

Wendys Co (NASDAQ:WEN) saw some unusual options trading activity on Thursday. Traders bought 7,644 put options on the company. This is an increase of approximately 1,778% compared to the typical volume of 407 put options.

WEN stock opened at $16.80 on Friday. The firm has a market cap of $3.95 billion, a P/E ratio of 28.47, a PEG ratio of 2.00 and a beta of 0.77. The company has a current ratio of 2.34, a quick ratio of 2.33 and a debt-to-equity ratio of 4.25. Wendys has a one year low of $14.96 and a one year high of $18.68.

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 company had revenue of $397.82 million for 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 firm’s revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. Research analysts predict that Wendys will post 0.61 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, February 28th. This is a positive change from Wendys’s previous quarterly dividend of $0.09. Wendys’s dividend payout ratio (DPR) is currently 67.80%.

In other Wendys news, insider Abigail E. Pringle sold 8,897 shares of the company’s stock in a transaction that occurred on 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 approximately $1,750,909.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Trian Fund Management, L.P. sold 3,000,000 shares of the company’s stock in a transaction that occurred on 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.

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Wendys during the fourth quarter valued at $56,554,000. FMR LLC lifted its holdings in Wendys by 280.4% during the fourth quarter. FMR LLC now owns 2,824,291 shares of the restaurant operator’s stock valued at $44,086,000 after purchasing an additional 2,081,924 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Wendys by 171.1% during the fourth quarter. Two Sigma Advisers LP now owns 2,642,829 shares of the restaurant operator’s stock valued at $41,255,000 after purchasing an additional 1,667,800 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Wendys by 1,553.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,163,242 shares of the restaurant operator’s stock valued at $75,000 after purchasing an additional 1,092,875 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Wendys by 114.8% during the third quarter. Canada Pension Plan Investment Board now owns 1,450,116 shares of the restaurant operator’s stock valued at $24,855,000 after purchasing an additional 775,116 shares in the last quarter. Institutional investors own 74.72% of the company’s stock.

A number of brokerages have issued reports on WEN. BidaskClub lowered shares of Wendys from a “buy” rating to a “hold” rating in a research note on Saturday, December 1st. Wedbush reiterated a “hold” rating and issued a $17.50 price objective on shares of Wendys in a research note on Monday, February 11th. Zacks Investment Research reiterated a “hold” rating on shares of Wendys in a research note on Saturday, November 17th. ValuEngine lowered shares of Wendys from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Finally, CIBC upgraded shares of Wendys from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Wednesday, January 9th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Wendys has an average rating of “Buy” and a consensus target price of $19.87.

WARNING: This story was published by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://www.com-unik.info/2019/03/15/wendys-sees-unusually-large-options-volume-wen.html.

About Wendys

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: Leveraged Buyout (LBO)

Receive News & Ratings for Wendys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wendys and related companies with MarketBeat.com's FREE daily email newsletter.



Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit