Pacer Advisors Inc. increased its holdings in shares of The Wendy’s Company (NASDAQ:WEN – Get Rating) by 371.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,664 shares of the restaurant operator’s stock after purchasing an additional 25,740 shares during the period. Pacer Advisors Inc.’s holdings in Wendy’s were worth $739,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of WEN. Raymond James & Associates lifted its holdings in shares of Wendy’s by 76.5% during the 1st quarter. Raymond James & Associates now owns 81,161 shares of the restaurant operator’s stock valued at $1,783,000 after purchasing an additional 35,183 shares in the last quarter. American Century Companies Inc. lifted its stake in Wendy’s by 16.3% in the 1st quarter. American Century Companies Inc. now owns 25,011 shares of the restaurant operator’s stock valued at $549,000 after acquiring an additional 3,498 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in Wendy’s in the 1st quarter valued at approximately $215,000. Citigroup Inc. lifted its stake in Wendy’s by 30.1% in the 1st quarter. Citigroup Inc. now owns 26,257 shares of the restaurant operator’s stock valued at $577,000 after acquiring an additional 6,073 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Wendy’s in the 1st quarter valued at approximately $221,000. Institutional investors own 70.59% of the company’s stock.
Insider Buying and Selling
In related news, insider Liliana Esposito sold 6,167 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $22.50, for a total transaction of $138,757.50. Following the completion of the sale, the insider now directly owns 74,865 shares in the company, valued at approximately $1,684,462.50. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Liliana Esposito sold 6,167 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $22.50, for a total transaction of $138,757.50. Following the completion of the sale, the insider now directly owns 74,865 shares in the company, valued at approximately $1,684,462.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Matthew H. Peltz sold 3,627,569 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $22.05, for a total value of $79,987,896.45. Following the completion of the transaction, the director now directly owns 21,705,770 shares of the company’s stock, valued at approximately $478,612,228.50. The disclosure for this sale can be found here. Insiders sold a total of 3,698,437 shares of company stock worth $81,502,197 in the last ninety days. 20.10% of the stock is owned by insiders.
Wendy’s Stock Performance
Wendy’s (NASDAQ:WEN – Get Rating) last released its earnings results on Wednesday, March 1st. The restaurant operator reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $536.50 million during the quarter, compared to the consensus estimate of $534.06 million. Wendy’s had a return on equity of 41.86% and a net margin of 8.46%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS. As a group, equities analysts anticipate that The Wendy’s Company will post 0.98 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Wedbush restated an “outperform” rating and issued a $26.50 target price on shares of Wendy’s in a research note on Thursday, March 2nd. Morgan Stanley boosted their price target on Wendy’s from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 18th. Stephens reaffirmed an “overweight” rating and set a $27.00 price target on shares of Wendy’s in a research report on Wednesday, March 1st. Barclays boosted their price target on Wendy’s from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, January 5th. Finally, The Goldman Sachs Group boosted their price target on Wendy’s from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 17th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.03.
Wendy’s Profile
The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid’s meals.
Further Reading
- Get a free copy of the StockNews.com research report on Wendy’s (WEN)
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