BidaskClub upgraded shares of Wendys (NASDAQ:WEN) from a sell rating to a hold rating in a research note released on Wednesday, December 20th.
Several other research firms have also commented on WEN. Longbow Research upgraded Wendys from a neutral rating to a buy rating and boosted their price objective for the stock from $15.23 to $18.00 in a research note on Friday, September 15th. BMO Capital Markets cut their price objective on Wendys from $19.00 to $17.00 and set an outperform rating for the company in a research note on Thursday, November 9th. Stifel Nicolaus initiated coverage on Wendys in a research note on Monday, October 2nd. They set a buy rating and a $18.00 price objective for the company. Morgan Stanley boosted their price objective on Wendys from $16.00 to $17.00 and gave the stock an underweight rating in a research note on Thursday, November 9th. Finally, TheStreet lowered Wendys from a b- rating to a c+ rating in a research note on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Wendys has an average rating of Hold and a consensus target price of $16.84.
Shares of Wendys (WEN) traded up $0.01 during trading on Wednesday, hitting $17.25. The company had a trading volume of 3,525,400 shares, compared to its average volume of 4,090,000. The company has a current ratio of 1.80, a quick ratio of 1.78 and a debt-to-equity ratio of 5.83. Wendys has a 1 year low of $13.03 and a 1 year high of $17.66. The stock has a market cap of $4,180.00, a price-to-earnings ratio of 69.00, a PEG ratio of 1.98 and a beta of 0.93.
Wendys (NASDAQ:WEN) last announced its quarterly earnings results on Wednesday, November 8th. The restaurant operator reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). Wendys had a net margin of 5.20% and a return on equity of 20.35%. The business had revenue of $308.00 million during the quarter. During the same period in the previous year, the company posted $0.11 EPS. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. sell-side analysts anticipate that Wendys will post 0.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.62%. Wendys’s dividend payout ratio (DPR) is presently 112.00%.
In related news, insider Scott A. Weisberg purchased 10,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $14.29 per share, for a total transaction of $142,900.00. Following the completion of the transaction, the insider now directly owns 199,014 shares of the company’s stock, valued at $2,843,910.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 26.50% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Wendys by 0.3% in the second quarter. BlackRock Inc. now owns 15,432,711 shares of the restaurant operator’s stock valued at $239,362,000 after acquiring an additional 41,702 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Wendys in the second quarter valued at approximately $189,448,000. Wells Fargo & Company MN lifted its holdings in Wendys by 4.3% in the third quarter. Wells Fargo & Company MN now owns 7,960,038 shares of the restaurant operator’s stock valued at $123,620,000 after acquiring an additional 329,659 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Wendys by 11.0% in the second quarter. Goldman Sachs Group Inc. now owns 2,095,403 shares of the restaurant operator’s stock valued at $32,500,000 after acquiring an additional 207,563 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Wendys by 92.4% in the third quarter. Canada Pension Plan Investment Board now owns 1,434,000 shares of the restaurant operator’s stock valued at $22,270,000 after acquiring an additional 688,700 shares during the last quarter. Hedge funds and other institutional investors own 76.33% of the company’s stock.
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Wendys Company Profile
The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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