Wendys (NASDAQ:WEN) had its price target hoisted by Telsey Advisory Group from $22.00 to $24.00 in a report released on Thursday, Briefing.com Automated Import reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.
Several other equities research analysts also recently commented on the company. Guggenheim downgraded Wendys from a buy rating to a neutral rating and set a $22.00 price objective for the company. in a report on Monday, September 9th. Stifel Nicolaus set a $22.00 price objective on Wendys and gave the company a hold rating in a report on Tuesday, October 15th. Piper Jaffray Companies set a $22.00 price objective on Wendys and gave the company a buy rating in a report on Wednesday, September 18th. Longbow Research set a $25.00 price objective on Wendys and gave the company a buy rating in a report on Friday, September 13th. Finally, BidaskClub downgraded Wendys from a buy rating to a hold rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $21.70.
Shares of NASDAQ WEN traded up $0.15 during trading hours on Thursday, hitting $20.80. The company had a trading volume of 1,928,046 shares, compared to its average volume of 3,316,316. The stock has a market capitalization of $4.81 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67. The company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67. Wendys has a 1-year low of $14.96 and a 1-year high of $22.84. The firm’s 50 day moving average is $20.76 and its 200-day moving average is $19.83.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from Wendys’s previous quarterly dividend of $0.10. Wendys’s dividend payout ratio (DPR) is currently 67.80%.
In related news, Director Matthew H. Peltz sold 2,000,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $19.97, for a total value of $39,940,000.00. Following the transaction, the director now owns 5,444,270 shares in the company, valued at $108,722,071.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider E.J. Wunsch sold 3,694 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $20.51, for a total value of $75,763.94. Following the completion of the transaction, the insider now owns 52,449 shares in the company, valued at approximately $1,075,728.99. The disclosure for this sale can be found here. Insiders have sold 2,478,694 shares of company stock valued at $49,468,264 in the last three months. Insiders own 20.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Wendys by 2.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,800 shares of the restaurant operator’s stock worth $476,000 after purchasing an additional 600 shares during the period. Comerica Bank grew its position in Wendys by 0.7% in the third quarter. Comerica Bank now owns 83,079 shares of the restaurant operator’s stock valued at $1,771,000 after acquiring an additional 604 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in Wendys by 1.2% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 52,602 shares of the restaurant operator’s stock valued at $1,051,000 after acquiring an additional 624 shares during the last quarter. Advisory Services Network LLC grew 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 acquiring an additional 849 shares during the last quarter. Finally, KG&L Capital Management LLC boosted its stake in shares of Wendys by 1.5% during the third quarter. KG&L Capital Management LLC now owns 58,850 shares of the restaurant operator’s stock valued at $1,175,000 after purchasing an additional 850 shares in the last quarter. Institutional investors own 76.34% 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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