ValuEngine Lowers Wendys (NASDAQ:WEN) to Hold
Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Wendys from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Longbow Research reissued a “buy” rating on shares of Wendys in a research note on Wednesday, September 4th. BTIG Research lowered shares of Wendys from a “buy” rating to a “neutral” rating in a report on Tuesday. Zacks Investment Research cut shares of Wendys from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Friday, August 23rd. Finally, Guggenheim downgraded Wendys from a “buy” rating to a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Wendys currently has an average rating of “Hold” and a consensus target price of $20.53.
NASDAQ:WEN traded down $2.24 on Tuesday, reaching $19.71. The stock had a trading volume of 16,990,145 shares, compared to its average volume of 3,228,983. The company has a market capitalization of $5.16 billion, a P/E ratio of 33.41, a price-to-earnings-growth ratio of 2.47 and a beta of 0.66. Wendys has a 1-year low of $14.96 and a 1-year high of $22.84. The company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67. The stock has a fifty day moving average price of $20.23 and a 200-day moving average price of $18.92.
In related news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of Wendys stock in a transaction that occurred 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 sale, the insider now owns 5,444,270 shares of the company’s stock, valued at approximately $108,340,973. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew H. Peltz sold 2,000,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 5,444,270 shares in the company, valued at approximately $108,722,071.90. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank bought a new position in Wendys in the second quarter valued at approximately $111,000. Atria Investments LLC acquired a new position in Wendys during the second quarter worth $506,000. BlackRock Inc. raised its position in Wendys by 1.3% during the second quarter. BlackRock Inc. now owns 16,840,359 shares of the restaurant operator’s stock worth $329,735,000 after acquiring an additional 211,285 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in Wendys by 70.7% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 968,959 shares of the restaurant operator’s stock worth $18,973,000 after acquiring an additional 401,238 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Wendys by 16.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,600 shares of the restaurant operator’s stock valued at $266,000 after acquiring an additional 1,881 shares during the last quarter. 77.94% of the stock is owned by hedge funds and other 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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