Wendys (NASDAQ:WEN) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
WEN has been the topic of a number of other reports. Longbow Research upgraded Wendys from a “neutral” rating to a “buy” rating in a research note on Thursday, March 8th. Citigroup boosted their price objective on Wendys from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, March 5th. Royal Bank of Canada restated a “hold” rating and issued a $18.00 price objective on shares of Wendys in a research note on Friday, December 22nd. Wedbush restated a “buy” rating and issued a $20.00 price objective on shares of Wendys in a research note on Thursday, February 22nd. Finally, Guggenheim upgraded Wendys from a “neutral” rating to a “buy” rating in a research note on Friday, February 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $17.48.
Shares of WEN stock opened at $17.17 on Wednesday. The company has a market capitalization of $4,158.63, a price-to-earnings ratio of 39.48, a PEG ratio of 1.62 and a beta of 0.81. Wendys has a 52 week low of $13.16 and a 52 week high of $17.66. The company has a debt-to-equity ratio of 4.75, a quick ratio of 1.77 and a current ratio of 1.78.
Wendys (NASDAQ:WEN) last released its earnings results on Wednesday, February 21st. The restaurant operator reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). The business had revenue of $309.25 million for the quarter. Wendys had a return on equity of 21.24% and a net margin of 15.86%. Wendys’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. research analysts predict that Wendys will post 0.55 earnings per share for the current fiscal year.
Wendys announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 15th that authorizes the company to buyback $175.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, CFO Gunther Plosch purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were purchased at an average cost of $16.62 per share, for a total transaction of $83,100.00. Following the completion of the transaction, the chief financial officer now directly owns 25,000 shares in the company, valued at approximately $415,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Emil J. Brolick sold 540,540 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $17.14, for a total value of $9,264,855.60. Following the sale, the director now owns 1,371,835 shares in the company, valued at $23,513,251.90. The disclosure for this sale can be found here. Corporate insiders own 26.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of Wendys by 26.8% during the fourth quarter. Victory Capital Management Inc. now owns 7,122,035 shares of the restaurant operator’s stock worth $116,944,000 after purchasing an additional 1,507,055 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Wendys by 70.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,794,882 shares of the restaurant operator’s stock worth $45,892,000 after purchasing an additional 1,152,200 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Wendys by 7.4% during the fourth quarter. Wells Fargo & Company MN now owns 8,547,151 shares of the restaurant operator’s stock worth $140,344,000 after purchasing an additional 587,113 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Wendys during the fourth quarter worth about $8,224,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Wendys by 67.9% during the third quarter. Allianz Asset Management GmbH now owns 988,592 shares of the restaurant operator’s stock worth $15,353,000 after purchasing an additional 399,664 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.
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The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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