Parametric Portfolio Associates LLC Grows Stock Holdings in Wendys Co (NASDAQ:WEN)

Parametric Portfolio Associates LLC lifted its stake in Wendys Co (NASDAQ:WEN) by 7.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 864,639 shares of the restaurant operator’s stock after purchasing an additional 62,868 shares during the period. Parametric Portfolio Associates LLC owned about 0.37% of Wendys worth $15,468,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Wendys by 3.1% during the fourth quarter. BlackRock Inc. now owns 16,707,749 shares of the restaurant operator’s stock worth $260,806,000 after purchasing an additional 496,357 shares in the last quarter. Janus Henderson Group PLC increased its position in Wendys by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 5,419,827 shares of the restaurant operator’s stock valued at $96,961,000 after acquiring an additional 98,309 shares during the period. Norges Bank acquired a new position in Wendys in the 4th quarter valued at about $56,554,000. JPMorgan Chase & Co. increased its position in Wendys by 57.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,956,664 shares of the restaurant operator’s stock valued at $52,895,000 after acquiring an additional 1,074,389 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Wendys by 11.6% in the 4th quarter. Bank of New York Mellon Corp now owns 2,877,886 shares of the restaurant operator’s stock valued at $44,924,000 after acquiring an additional 300,025 shares during the period. Hedge funds and other institutional investors own 76.09% of the company’s stock.

Shares of NASDAQ WEN traded down $0.35 during mid-day trading on Monday, reaching $19.23. 3,272,300 shares of the company traded hands, compared to its average volume of 3,330,009. Wendys Co has a fifty-two week low of $14.96 and a fifty-two week high of $20.14. The company has a debt-to-equity ratio of 5.80, a quick ratio of 2.04 and a current ratio of 2.05. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 2.16 and a beta of 0.75. The company has a fifty day moving average of $19.10.

Wendys (NASDAQ:WEN) last issued its 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. Wendys had a net margin of 29.16% and a return on equity of 23.85%. The firm had revenue of $408.60 million during the quarter, compared to analysts’ expectations of $398.58 million. During the same period last year, the firm posted $0.11 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, sell-side analysts predict that Wendys Co will post 0.63 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.10 per share. The ex-dividend date was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.08%. Wendys’s dividend payout ratio is currently 67.80%.

A number of equities research analysts have weighed in on WEN shares. Evercore ISI started coverage on Wendys in a report on Wednesday, June 12th. They issued an “in-line” rating and a $20.00 price objective on the stock. ValuEngine lowered Wendys from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Mizuho lowered Wendys from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research note on Wednesday, March 20th. BMO Capital Markets upped their target price on Wendys from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Finally, Wedbush reiterated a “hold” rating and issued a $20.00 price target on shares of Wendys in a report on Wednesday, May 8th. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $20.33.

In related news, COO Robert D. Wright sold 454,793 shares of Wendys stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $18.60, for a total value of $8,459,149.80. Following the transaction, the chief operating officer now owns 237,425 shares in the company, valued at approximately $4,416,105. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 690,532 shares of company stock worth $12,859,441 in the last 90 days. 20.90% of the stock is owned by insiders.

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.

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Institutional Ownership by Quarter for Wendys (NASDAQ:WEN)

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