KG&L Capital Management LLC increased its position in Wendys Co (NASDAQ:WEN) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 58,850 shares of the restaurant operator’s stock after buying an additional 850 shares during the period. Wendys comprises approximately 1.1% of KG&L Capital Management LLC’s holdings, making the stock its 25th largest position. KG&L Capital Management LLC’s holdings in Wendys were worth $1,175,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WEN. First Trust Advisors LP boosted its holdings in shares of Wendys by 532.8% during the 1st quarter. First Trust Advisors LP now owns 430,867 shares of the restaurant operator’s stock valued at $7,708,000 after purchasing an additional 362,782 shares during the last quarter. Hancock Whitney Corp bought a new position in shares of Wendys during the 1st quarter valued at about $1,097,000. Burney Co. bought a new position in shares of Wendys during the 1st quarter valued at about $253,000. WINTON GROUP Ltd boosted its holdings in shares of Wendys by 156.7% during the 2nd quarter. WINTON GROUP Ltd now owns 28,920 shares of the restaurant operator’s stock valued at $566,000 after purchasing an additional 17,654 shares during the last quarter. Finally, Carroll Financial Associates Inc. boosted its holdings in shares of Wendys by 226.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock valued at $75,000 after purchasing an additional 2,658 shares during the last quarter. 76.53% of the stock is owned by institutional investors and hedge funds.
Wendys stock traded up $0.79 during midday trading on Friday, reaching $20.78. The stock had a trading volume of 12,101,098 shares, compared to its average volume of 3,674,104. The company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67. Wendys Co has a 52-week low of $14.96 and a 52-week high of $22.84. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 2.40 and a beta of 0.65. The company has a fifty day moving average of $20.80 and a 200 day moving average of $19.38.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.92%. Wendys’s dividend payout ratio is currently 67.80%.
In other Wendys news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $19.90, for a total value of $9,452,500.00. Following the transaction, the insider now directly owns 5,444,270 shares in the company, valued at approximately $108,340,973. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider E.J. Wunsch sold 3,694 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $20.51, for a total transaction of $75,763.94. Following the completion of the transaction, the insider now owns 52,449 shares in the company, valued at $1,075,728.99. The disclosure for this sale can be found here. Insiders sold a total of 2,478,694 shares of company stock worth $49,468,264 over the last 90 days. Insiders own 20.90% of the company’s stock.
Several analysts have recently issued reports on WEN shares. BMO Capital Markets upped their target price on shares of Wendys from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Zacks Investment Research cut shares of Wendys from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research report on Friday, August 23rd. Goldman Sachs Group started coverage on shares of Wendys in a research report on Monday, July 29th. They set a “sell” rating and a $17.50 target price on the stock. Wells Fargo & Co upped their target price on shares of Wendys from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Finally, Piper Jaffray Companies set a $22.00 target price on shares of Wendys and gave the company a “buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.05.
Wendys Company Profile
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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