The Vanguard Group, Inc. recently announced the acquisition of new stake in Wendy’s Co (NASDAQ:WEN). The institutional investor has increased its shareholding in the Consumer Cyclical company by 6.15% to 19.99 million shares with purchase of 1.16 million shares. This fresh investment now brings its stake to 9.69% valued currently at $389.32 million. In addition, Harris Associates LP raised its holdings by 2.15 million to 7.75 million shares. And Allspring Global Investments LLC has lifted its position by 1.27% or 66063.0 shares – to 5.25 million shares.
Currently, there are 213.10M common shares owned by the public and among those 188.22M shares have been available to trade.
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Insiders at the company have transacted a total of 54 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 290,026 shares. Insider sales of the common stock occurred on 22 occasions, with total insider shares sold totaling 22,282,858 shares.
The top 3 mutual fund holders in Wendy’s Co are Vanguard Total Stock Market ETF, MFS Mid Cap Value Fund, and iShares Core S&P Mid Cap ETF. Vanguard Total Stock Market ETF owns 5.58 million shares of the company’s stock, all valued at over $108.66 million. The company bought an additional 4903.0 shares recently to bring their total holdings to about 2.70% of the shares outstanding. MFS Mid Cap Value Fund sold 10830.0 shares to see its total holdings shrink to 5.54 million shares valued at over $107.84 million and representing 2.68% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 4590.0 shares to bring its total holdings to over 5.08 million shares at a value of $98.88 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.46% of the shares outstanding.
However, the script later moved the day high at 19.22, up 0.58%. The company’s stock has a 5-day price change of 0.26% and -0.37% over the past three months. WEN shares are trading -2.05% year to date (YTD), with the 12-month market performance down to -15.12% lower. It has a 12-month low price of $18.19 and touched a high of $23.90 over the same period. WEN has an average intraday trading volume of 2.75 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.51%, -1.26%, and -7.72% respectively.
Institutional ownership of Wendy’s Co (NASDAQ: WEN) shares accounts for 76.35% of the company’s 213.10M shares outstanding. Mutual fund holders own 31.81%, while other institutional holders and individual stakeholders account for 44.62% and 18.21% respectively.
It has a market capitalization of $3.94B and a beta (3y monthly) value of 0.83. The stock’s trailing 12-month PE ratio is 20.42, while the earnings-per-share (ttm) stands at $0.93. The company has a PEG of 1.71 and a Quick Ratio of 2.27 with the debt-to-equity ratio at 12.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.24% over the week and 1.92% over the month.
Analysts forecast that Wendy’s Co (WEN) will achieve an EPS of $0.23 for the current quarter, $0.24 for the next quarter and $1.11 for 2024. The lowest estimate earnings-per-share for the quarter is $0.22 while analysts give the company a high EPS estimate of $0.26. Comparatively, EPS for the current quarter was $0.22 a year ago.
Looking at the support for the WEN, a number of firms have released research notes about the stock. Gordon Haskett stated their Hold rating for the stock in a research note on January 16, 2024, with the firm’s price target at $21.
