Wendys (NASDAQ:WEN) Upgraded by ValuEngine to “Buy”
Several other analysts have also issued reports on WEN. Wells Fargo & Co increased their target price on Wendys from $19.00 to $20.00 and gave the stock a market perform rating in a report on Tuesday, September 10th. Zacks Investment Research lowered Wendys from a buy rating to a hold rating and set a $23.00 target price on the stock. in a report on Friday, August 23rd. Guggenheim lowered Wendys from a buy rating to a neutral rating and set a $22.00 target price on the stock. in a report on Monday, September 9th. BidaskClub lowered Wendys from a strong-buy rating to a buy rating in a report on Wednesday, September 11th. Finally, Evercore ISI set a $20.00 target price on Wendys and gave the stock a hold rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $21.07.
Shares of NASDAQ WEN opened at $20.76 on Tuesday. The company has a debt-to-equity ratio of 5.67, a current ratio of 1.97 and a quick ratio of 1.96. The stock’s fifty day moving average price is $20.44 and its two-hundred day moving average price is $19.03. Wendys has a one year low of $14.96 and a one year high of $22.84. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 2.41 and a beta of 0.66.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.93%. Wendys’s dividend payout ratio is currently 67.80%.
In related news, Director Matthew H. Peltz sold 2,000,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $19.97, for a total transaction of $39,940,000.00. Following the completion of the sale, the director now directly owns 5,444,270 shares in the company, valued at approximately $108,722,071.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the company’s 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 sale, the insider now owns 5,444,270 shares of the company’s stock, valued at $108,340,973. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Coastal Capital Group Inc. bought a new stake in shares of Wendys during the 2nd quarter worth $30,000. Coastal Investment Advisors Inc. lifted its position in shares of Wendys by 116.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock worth $36,000 after buying an additional 978 shares during the last quarter. Advisory Services Network LLC raised its position in Wendys by 65.2% in the second quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 849 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in Wendys in the first quarter valued at about $58,000. Finally, Carroll Financial Associates Inc. raised its position in Wendys by 226.6% in the second quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock valued at $75,000 after purchasing an additional 2,658 shares during the last quarter. Institutional investors and hedge funds own 76.56% of the company’s stock.
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.
See Also: Fundamental Analysis
To view ValuEngine’s full report, visit ValuEngine’s official website.
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