Wendys (NASDAQ:WEN) had its target price boosted by Credit Suisse Group from $21.00 to $22.00 in a research note published on Thursday morning, Stock Target Advisor reports. They currently have a neutral rating on the restaurant operator’s stock.
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Several other research analysts also recently issued reports on the stock. Longbow Research set a $25.00 target price on shares of Wendys and gave the stock a buy rating in a research note on Friday, September 13th. ValuEngine upgraded shares of Wendys from a hold rating to a buy rating in a research note on Friday, November 1st. KeyCorp reiterated a hold rating on shares of Wendys in a research note on Tuesday, October 15th. Stephens set a $24.00 target price on shares of Wendys and gave the stock a buy rating in a research note on Friday, October 11th. Finally, Evercore ISI set a $20.00 target price on shares of Wendys and gave the stock a hold rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. Wendys has a consensus rating of Hold and an average price target of $21.70.
Shares of WEN stock traded down $0.33 during mid-day trading on Thursday, reaching $20.65. The stock had a trading volume of 3,309,900 shares, compared to its average volume of 3,322,713. The stock’s 50-day moving average price is $20.76 and its two-hundred day moving average price is $19.83. The firm has a market capitalization of $4.81 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67. Wendys has a 52-week low of $14.96 and a 52-week high of $22.84. The company has a current ratio of 1.97, a quick ratio of 1.96 and a debt-to-equity ratio of 5.67.
Wendys (NASDAQ:WEN) last issued its earnings results on Wednesday, November 6th. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. The firm had revenue of $437.88 million for the quarter, compared to the consensus estimate of $434.45 million. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. On average, equities research analysts forecast that Wendys will post 0.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.32%. This is a boost from Wendys’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, November 29th. Wendys’s payout ratio is presently 67.80%.
In other Wendys news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the company’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 transaction of $9,452,500.00. Following the completion of the sale, the insider now directly owns 5,444,270 shares of the company’s stock, valued at $108,340,973. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider E.J. Wunsch sold 3,694 shares of the company’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 sale, the insider now directly owns 52,449 shares of the company’s stock, valued at $1,075,728.99. The disclosure for this sale can be found here. Insiders have sold 2,478,694 shares of company stock valued at $49,468,264 over the last three months. 20.90% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Holocene Advisors LP increased its holdings in Wendys by 2,361.6% during the second quarter. Holocene Advisors LP now owns 1,669,013 shares of the restaurant operator’s stock valued at $32,679,000 after buying an additional 1,601,211 shares during the last quarter. US Bancorp DE boosted its position in shares of Wendys by 12.0% in the second quarter. US Bancorp DE now owns 269,381 shares of the restaurant operator’s stock worth $5,274,000 after purchasing an additional 28,826 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Wendys by 3,181.9% in the second quarter. Cubist Systematic Strategies LLC now owns 166,328 shares of the restaurant operator’s stock worth $3,257,000 after purchasing an additional 161,260 shares during the period. Greenleaf Trust bought a new position in shares of Wendys in the second quarter worth approximately $12,300,000. Finally, Menta Capital LLC boosted its position in shares of Wendys by 21.0% in the second quarter. Menta Capital LLC now owns 65,200 shares of the restaurant operator’s stock worth $1,277,000 after purchasing an additional 11,318 shares during the period. 76.34% of the stock is owned by institutional investors and hedge funds.
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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