Cowen reaffirmed their buy rating on shares of Wendys (NASDAQ:WEN) in a research note released on Friday morning, AnalystRatings.com reports. The brokerage currently has a $22.00 price target on the restaurant operator’s stock.
Several other research analysts have also recently weighed in on the company. BTIG Research cut Wendys from a buy rating to a neutral rating in a research note on Tuesday, September 10th. Guggenheim cut Wendys from a buy rating to a neutral rating and set a $22.00 target price for the company. in a research note on Monday, September 9th. Wells Fargo & Co raised their target price on Wendys from $19.00 to $20.00 and gave the company a market perform rating in a research note on Tuesday, September 10th. Goldman Sachs Group initiated coverage on Wendys in a research note on Monday, July 29th. They set a sell rating and a $17.50 target price for the company. Finally, Oppenheimer set a $24.00 target price on Wendys and gave the company a buy rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $21.07.
NASDAQ:WEN opened at $19.56 on Friday. Wendys has a 1 year low of $14.96 and a 1 year high of $22.84. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 2.37 and a beta of 0.66. The business has a fifty day moving average of $20.30 and a 200-day moving average of $18.97. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.96 and a current ratio of 1.97.
Wendys (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The company had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $439.64 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts predict that Wendys will post 0.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.04%. Wendys’s dividend payout ratio (DPR) is 67.80%.
In related news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $19.90, for a total value of $9,452,500.00. Following the completion of the transaction, the insider now owns 5,444,270 shares in the company, valued at approximately $108,340,973. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew H. Peltz sold 2,000,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $19.97, for a total value of $39,940,000.00. Following the completion of the transaction, the director now owns 5,444,270 shares of the company’s stock, valued at approximately $108,722,071.90. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Coastal Capital Group Inc. purchased a new stake in Wendys in the 2nd quarter worth about $30,000. Coastal Investment Advisors Inc. lifted its stake in Wendys by 116.6% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 978 shares in the last quarter. Advisory Services Network LLC lifted its stake in Wendys by 65.2% in the 2nd quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock worth $43,000 after acquiring an additional 849 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in Wendys in the 1st quarter worth about $58,000. Finally, Carroll Financial Associates Inc. lifted its stake in Wendys by 226.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock worth $75,000 after acquiring an additional 2,658 shares in the last quarter. Institutional investors and hedge funds own 76.56% of the company’s stock.
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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