Wendys (NASDAQ:WEN) had its price target increased by Credit Suisse Group from $21.00 to $22.00 in a research report released on Thursday, Stock Target Advisor reports. They currently have a neutral rating on the restaurant operator’s stock.
A number of other equities research analysts have also weighed in on WEN. Stephens set a $24.00 target price on shares of Wendys and gave the stock a buy rating in a report on Friday, October 11th. Morgan Stanley upped their target price on shares of Wendys from $19.00 to $22.00 and gave the stock an equal weight rating in a report on Monday, October 14th. Evercore ISI set a $20.00 target price on shares of Wendys and gave the stock a hold rating in a report on Wednesday, August 7th. ValuEngine upgraded shares of Wendys from a hold rating to a buy rating in a report on Friday, November 1st. Finally, BTIG Research lowered shares of Wendys from a buy rating to a neutral rating in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $21.70.
Shares of Wendys stock traded down $0.33 during trading on Thursday, hitting $20.65. The company’s stock had a trading volume of 3,309,900 shares, compared to its average volume of 3,322,713. The company has a debt-to-equity ratio of 5.67, a current ratio of 1.97 and a quick ratio of 1.96. Wendys has a 52 week low of $14.96 and a 52 week high of $22.84. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67. The stock has a 50-day moving average price of $20.76 and a two-hundred day moving average price of $19.83.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 2.32%. This is a positive change from Wendys’s previous quarterly dividend of $0.10. Wendys’s dividend payout ratio (DPR) is presently 67.80%.
In other news, Director Matthew H. Peltz sold 2,000,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $108,722,071.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider E.J. Wunsch sold 3,694 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $20.51, for a total transaction of $75,763.94. Following the sale, the insider now owns 52,449 shares of the company’s stock, valued at approximately $1,075,728.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,478,694 shares of company stock valued at $49,468,264. 20.90% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Invesco Ltd. boosted its holdings in Wendys by 65.5% in the 2nd quarter. Invesco Ltd. now owns 10,441,578 shares of the restaurant operator’s stock worth $204,447,000 after buying an additional 4,131,438 shares during the period. Macquarie Group Ltd. bought a new position in Wendys in the 2nd quarter worth approximately $33,434,000. Holocene Advisors LP boosted its holdings in Wendys by 2,361.6% in the 2nd quarter. Holocene Advisors LP now owns 1,669,013 shares of the restaurant operator’s stock worth $32,679,000 after buying an additional 1,601,211 shares during the period. Prudential Financial Inc. boosted its holdings in Wendys by 1,406.4% in the 2nd quarter. Prudential Financial Inc. now owns 1,621,181 shares of the restaurant operator’s stock worth $31,743,000 after buying an additional 1,513,560 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Wendys by 1,369.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,612,184 shares of the restaurant operator’s stock worth $31,567,000 after buying an additional 1,502,470 shares during the period. 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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