Stephens set a $22.00 target price on Wendys (NASDAQ:WEN) in a research note released on Tuesday, TipRanks reports. The firm currently has a buy rating on the restaurant operator’s stock.
A number of other equities research analysts have also recently issued reports on the stock. BTIG Research cut shares of Wendys from a buy rating to a neutral rating in a research note on Tuesday. Zacks Investment Research lowered shares of Wendys from a buy rating to a hold rating and set a $23.00 price target for the company. in a report on Friday, August 23rd. Evercore ISI set a $20.00 price objective on shares of Wendys and gave the stock a hold rating in a research report on Wednesday, August 7th. Longbow Research reaffirmed a buy rating on shares of Wendys in a report on Wednesday, September 4th. Finally, Credit Suisse Group set a $21.00 target price on shares of Wendys and gave the company a hold rating in a research report on Tuesday. 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 company’s stock. Wendys currently has an average rating of Hold and an average target price of $20.83.
NASDAQ WEN traded down $0.09 during trading hours on Tuesday, reaching $19.62. The company’s stock had a trading volume of 4,905,163 shares, compared to its average volume of 3,240,024. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 33.25, a P/E/G ratio of 2.43 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 debt-to-equity ratio of 5.67, a current ratio of 1.97 and a quick ratio of 1.96. The company’s 50-day moving average is $20.25 and its two-hundred day moving average is $18.92.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, August 30th. 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 dated Friday, August 16th. The shares were 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 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 SEC, which can be accessed through this hyperlink. Also, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the stock in a transaction dated 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 sale, the insider now owns 5,444,270 shares of the company’s stock, valued at approximately $108,340,973. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of WEN. Greenleaf Trust acquired a new stake in shares of Wendys in the second quarter valued at approximately $12,300,000. Menta Capital LLC lifted its position in Wendys by 21.0% during the second quarter. Menta Capital LLC now owns 65,200 shares of the restaurant operator’s stock worth $1,277,000 after buying an additional 11,318 shares in the last quarter. Foundry Partners LLC acquired a new position in Wendys during the second quarter worth $2,017,000. BB&T Securities LLC acquired a new position in Wendys during the second quarter worth $234,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Wendys in the 1st quarter valued at $58,000. Institutional investors and hedge funds own 77.94% 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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