WEN - Nelson Peltz's Trian Fund lowers stake in Wendy's

2023-03-06 06:53:10 ET

Nelson Peltz's Trian Fund sold 3,627,569 shares of The Wendy's Company ( NASDAQ: WEN ) on March 3. The sale of the block of Wendy's ( WEN ) shares amounted to close to $80M, per a SEC filing .

The activist firm reduced its stake in Wendy's ( WEN ) to 17.85% from 19.62% through the new sales of shares.

Following pressure from Trian last year, the restaurant chain operator operator's board of directors approved a restructuring plan in January aimed at boosting sales.

The Seeking Alpha Quant Rating on Wendy's flipped to Buy from Hold on March 1.

Read the latest breakdowns on Wendy's ( WEN ) from Seeking Alpha contributors.

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