Wendys (NASDAQ:WEN) Coverage Initiated at MKM Partners

MKM Partners started coverage on shares of Wendys (NASDAQ:WEN) in a report released on Tuesday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $20.00 price target on the restaurant operator’s stock.

WEN has been the subject of several other research reports. Evercore ISI set a $20.00 price objective on shares of Wendys and gave the stock a hold rating in a report on Wednesday, August 7th. Goldman Sachs Group assumed coverage on shares of Wendys in a report on Monday, July 29th. They issued a sell rating and a $17.50 price target for the company. BMO Capital Markets raised their price target on shares of Wendys from $19.00 to $21.00 and gave the company an outperform rating in a report on Thursday, May 9th. Wedbush reissued a hold rating and issued a $20.00 price target on shares of Wendys in a report on Wednesday, May 8th. Finally, Stephens raised their price target on shares of Wendys to $22.00 and gave the company an overweight rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $20.14.

NASDAQ WEN opened at $19.95 on Tuesday. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 2.18 and a beta of 0.72. The company has a 50 day moving average of $19.22 and a 200-day moving average of $18.45. 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 has a 1-year low of $14.96 and a 1-year high of $20.30.



Wendys (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $435.30 million during the quarter, compared to analyst estimates of $439.64 million. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. On average, analysts forecast that Wendys will post 0.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, August 30th. Wendys’s dividend payout ratio is presently 67.80%.

In other Wendys news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of Wendys stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total transaction of $9,452,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew H. Peltz sold 2,000,000 shares of Wendys 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 sale, the director now directly 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. 20.90% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coastal Capital Group Inc. acquired a new stake in Wendys during the 2nd quarter worth $30,000. Coastal Investment Advisors Inc. grew its holdings in 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 acquiring an additional 978 shares during the period. Advisory Services Network LLC grew its holdings in Wendys by 65.2% during 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 during the period. O Shaughnessy Asset Management LLC acquired a new stake in Wendys during the 1st quarter worth $58,000. Finally, Carroll Financial Associates Inc. grew its holdings in Wendys by 226.6% during 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 during the period. 76.93% 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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Analyst Recommendations for Wendys (NASDAQ:WEN)

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