Geode Capital Management LLC Has $29.94 Million Stock Holdings in Wendys Co (NASDAQ:WEN)

Geode Capital Management LLC lifted its stake in shares of Wendys Co (NASDAQ:WEN) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,917,851 shares of the restaurant operator’s stock after purchasing an additional 113,514 shares during the quarter. Geode Capital Management LLC owned about 0.81% of Wendys worth $29,937,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Wendys in the 4th quarter valued at about $56,554,000. FMR LLC boosted its stake in shares of Wendys by 280.4% during the 4th quarter. FMR LLC now owns 2,824,291 shares of the restaurant operator’s stock worth $44,086,000 after purchasing an additional 2,081,924 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Wendys by 171.1% during the 4th quarter. Two Sigma Advisers LP now owns 2,642,829 shares of the restaurant operator’s stock worth $41,255,000 after acquiring an additional 1,667,800 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Wendys by 1,553.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,163,242 shares of the restaurant operator’s stock worth $75,000 after acquiring an additional 1,092,875 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Wendys by 4,861.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 569,470 shares of the restaurant operator’s stock worth $8,889,000 after acquiring an additional 557,992 shares during the period. 76.09% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Robert D. Wright sold 454,793 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $18.60, for a total value of $8,459,149.80. Following the completion of the sale, the chief operating officer now directly owns 237,425 shares in the company, valued at approximately $4,416,105. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 690,532 shares of company stock valued at $12,859,441. Corporate insiders own 20.90% of the company’s stock.

Several research analysts have recently weighed in on the stock. Bank of America set a $20.00 price objective on shares of Wendys and gave the stock a “hold” rating in a report on Friday, May 10th. Cowen assumed coverage on shares of Wendys in a research note on Wednesday, April 10th. They set an “outperform” rating and a $21.00 price objective on the stock. Credit Suisse Group assumed coverage on shares of Wendys in a research note on Tuesday. They set a “neutral” rating and a $20.00 price objective on the stock. BidaskClub raised shares of Wendys from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Finally, Mizuho downgraded shares of Wendys from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research report on Wednesday, March 20th. Nine equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Wendys presently has a consensus rating of “Buy” and an average target price of $20.33.

Shares of NASDAQ WEN traded up $0.09 during midday trading on Friday, reaching $19.58. 2,228,472 shares of the company traded hands, compared to its average volume of 2,437,028. The company has a current ratio of 2.05, a quick ratio of 2.04 and a debt-to-equity ratio of 5.80. The stock’s 50-day moving average is $19.10. Wendys Co has a 52 week low of $14.96 and a 52 week high of $20.14. The firm has a market capitalization of $4.50 billion, a P/E ratio of 33.19, a price-to-earnings-growth ratio of 2.15 and a beta of 0.75.

Wendys (NASDAQ:WEN) last issued its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. The firm had revenue of $408.60 million for the quarter, compared to analysts’ expectations of $398.58 million. Wendys had a return on equity of 23.85% and a net margin of 29.16%. Wendys’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. As a group, equities analysts anticipate that Wendys Co will post 0.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.40 annualized dividend and a yield of 2.04%. Wendys’s dividend payout ratio (DPR) is currently 67.80%.

About Wendys

The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.

Further Reading: Discover Your Risk Tolerance

Institutional Ownership by Quarter for Wendys (NASDAQ:WEN)

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.