Wendys (NASDAQ:WEN) had its target price upped by Telsey Advisory Group from $22.00 to $24.00 in a report published on Thursday morning, Briefing.com Automated Import reports. They currently have an outperform rating on the restaurant operator’s stock.
Other research analysts have also recently issued reports about the stock. Piper Jaffray Companies set a $22.00 price target on shares of Wendys and gave the stock a buy rating in a report on Wednesday, September 18th. Evercore ISI set a $20.00 price target on shares of Wendys and gave the stock a hold rating in a report on Wednesday, August 7th. BMO Capital Markets boosted their target price on shares of Wendys from $21.00 to $24.00 and gave the company an outperform rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their target price on shares of Wendys from $19.00 to $22.00 and gave the company an equal weight rating in a research note on Monday, October 14th. Finally, Goldman Sachs Group initiated coverage on shares of Wendys in a research note on Monday, July 29th. They issued a sell rating and a $17.50 target price on the stock. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $21.70.
WEN traded down $0.33 during midday trading on Thursday, hitting $20.65. The company had a trading volume of 3,309,900 shares, compared to its average volume of 3,322,713. Wendys has a 52 week low of $14.96 and a 52 week high of $22.84. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 3.00 and a beta of 0.67. The stock’s 50 day moving average price is $20.76 and its 200 day moving average price is $19.83. The company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67.
Wendys (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, November 6th. The restaurant operator reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The business had revenue of $437.88 million for the quarter, compared to analysts’ expectations of $434.45 million. During the same period in the previous year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts predict that Wendys will post 0.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 2.32%. This is a positive change from Wendys’s previous quarterly dividend of $0.10. Wendys’s payout ratio is 67.80%.
In other news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total value of $9,452,500.00. Following the sale, the insider now owns 5,444,270 shares of the company’s stock, valued at $108,340,973. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider E.J. Wunsch sold 3,694 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $20.51, for a total transaction of $75,763.94. Following the completion of the sale, the insider now directly owns 52,449 shares in the company, valued at approximately $1,075,728.99. The disclosure for this sale can be found here. In the last three months, insiders sold 2,478,694 shares of company stock worth $49,468,264. Insiders own 20.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Holocene Advisors LP raised its stake in Wendys by 2,361.6% during the 2nd quarter. Holocene Advisors LP now owns 1,669,013 shares of the restaurant operator’s stock worth $32,679,000 after acquiring an additional 1,601,211 shares during the period. US Bancorp DE raised its stake in Wendys by 12.0% during the 2nd quarter. US Bancorp DE now owns 269,381 shares of the restaurant operator’s stock worth $5,274,000 after acquiring an additional 28,826 shares during the period. Cubist Systematic Strategies LLC raised its stake in Wendys by 3,181.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 166,328 shares of the restaurant operator’s stock worth $3,257,000 after acquiring an additional 161,260 shares during the period. Greenleaf Trust bought a new stake in Wendys during the 2nd quarter worth approximately $12,300,000. Finally, Menta Capital LLC raised its stake in Wendys by 21.0% during the 2nd quarter. Menta Capital LLC now owns 65,200 shares of the restaurant operator’s stock worth $1,277,000 after acquiring an additional 11,318 shares during the period. 76.34% of the stock is currently owned by institutional investors.
Wendys Company Profile
The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.
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