Trian Partners Trims its Stake in The Wendy’s Co (WEN)

Nelson Peltz and its fund Trian Partners revealed in a filing, that they own 91.49 million shares of The Wendy’s Co (NASDAQ:WEN), which represent a 23.29% stake of the common stock. In a separate filing, the fund also disclosed that it sold 16.2 million shares at a price of $8.90 per share. A couple of days ago, Trian revealed in a filing that it held 107.45 million shares, of the the company, boosting the stake from 83 million shares held at the end of third quarter of 2013.

TRIAN PARTNERS

 

Recently, the company tweaked its “Dutch auction” tender offer, under the terms of which it intends to buy back up to $275.0 million of common stock. The fund disclosed in the filing that it does not intend to participate in the offer because of income tax consequences. The securities have been sold by Trian in a privately-negotiated transaction

Wendy’s has laid down its guidance for the fourth quarter of 2013 and FY13, according to which it expects sales to increase by 3.1% in the fourth quarter and 1.9% in FY13. The adjusted EBITDA is expected to fall by 7% to $89.0 million in the fourth quarter and rise 10% to $367.1 million in FY13. For FY14 the company expects Same-Restaurant Sales in the range 2.5% to 3.5%

In September, Southeastern Asset Management, led by Mason Hawkins, disclosed in a filing that its position in The Wendy’s Co (NASDAQ:WEN) fell below 5%. Earlier, Mason Hawkins held some 18.88 million shares. Murray Stahl ’s Horizon Asset Management, currently owns 27.77 million shares of The Wendy’s. D E Shaw, run by D. E. Shaw also holds around 4.58 million shares of the company.

On December 16, Scott R. Toop, Senior Vice President, General Counsel & Secretary, purchased 10,000 shares at an average price of $8.49 per share. Scott R. Toop, has been accumulating the shares of The Wendy’s and now holds 49,500 shares. A. Scott Weisberg Chief People Officer at Wendy’s, has amassed 20,400 shares. While Gumpert Jack Wasserman, currently owns, 80,323 shares of the company.

Trian Partners is an activist hedge fund. The fund initiated a position in Allegion PLC (NYSE:ALLE) ), a spin-off from Ingersoll-Rand PLC (NYSE:IR) in December, and owns 5.74 million shares of Allegion. The fund had a raised its exposure in, Ingersoll-Rand PLC (NYSE:IR) in November, to 18.03 million shares, from 12.9 million shares.

Trian Partners, has 23.56% invested in Mondelez International Inc (NASDAQ:MDLZ), and owns 40.95 million shares of The Wendy’s Co (NASDAQ:WEN).

Disclosure: none

Recommended Readings:

Moab Capital Partners Closes Stake in Mac-Gray Corporation (TUC) Following Merger

Hedge Fund News: Bill Ackman, Tom Sandell & Relational Investors

Bill & Melinda Gates Foundation Trust Discloses Selling Some Berkshire Hathaway Inc. (BRK.B); Plans To Sell 65 Mln More

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!