A number of other research analysts also recently issued reports on the stock. Bank of America set a $20.00 price target on shares of Wendys and gave the stock a hold rating in a research note on Friday, May 10th. Goldman Sachs Group initiated coverage on shares of Wendys in a research note on Monday, July 29th. They issued a sell rating and a $17.50 price target for the company. Wedbush reiterated a hold rating and issued a $20.00 price target on shares of Wendys in a research note on Wednesday, May 8th. MKM Partners initiated coverage on shares of Wendys in a research note on Tuesday, August 13th. They issued a neutral rating and a $20.00 price target for the company. Finally, Stephens lifted their price target on shares of Wendys to $22.00 and gave the stock an overweight rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. Wendys has a consensus rating of Buy and an average target price of $20.05.
NASDAQ WEN opened at $20.43 on Friday. The firm has a 50 day simple moving average of $19.25 and a 200-day simple moving average of $18.48. 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 has a one year low of $14.96 and a one year high of $20.63. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 2.19 and a beta of 0.72.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued 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 1.96%. Wendys’s payout ratio is 67.80%.
In other Wendys news, Director Matthew H. Peltz sold 2,000,000 shares of the business’s 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 transaction, the director now directly owns 5,444,270 shares of the company’s stock, valued at approximately $108,722,071.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the business’s 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. Following the completion of the transaction, the insider now directly owns 5,444,270 shares in the company, valued at $108,340,973. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Coastal Capital Group Inc. acquired a new position in shares of Wendys during the 2nd quarter worth $30,000. Coastal Investment Advisors Inc. grew its stake 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 purchasing an additional 978 shares during the period. Advisory Services Network LLC grew its stake in shares of 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 purchasing an additional 849 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in shares of Wendys during the 1st quarter worth $58,000. Finally, Carroll Financial Associates Inc. grew its stake in shares of 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 purchasing an additional 2,658 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.
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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