Time to Sell Wendy’s

Article Excerpt

WENDY’S INTERNATIONAL $32.15 (New York symbol WEN; SI Rating; Above average) (614-764-3100; www.wendys.com; Shares outstanding: 96.1 million; Market cap: $3.1 billion) has completed the buyback of up to $282 million worth of its stock as part of a plan which it hopes will enhance stockholder value. It bought back nine million shares at $31.33 each. Share buybacks boost per share earnings and increase the proportionate ownership of the remaining stockholders. But Wendy’s stock will make little progress until it improves the performance of its restaurants. We now feel Wendy’s holders should sell. sell…