Wendy’s (NASDAQ:WEN) had its target price increased by Stifel Nicolaus from $18.00 to $20.00 in a research note released on Wednesday morning. They currently have a buy rating on the restaurant operator’s stock.
Several other analysts have also issued reports on WEN. BidaskClub upgraded shares of Wendy’s from a sell rating to a hold rating in a research report on Wednesday, December 20th. Wedbush upgraded shares of Wendy’s from a neutral rating to an outperform rating and set a $20.00 target price for the company in a research report on Wednesday, December 20th. Royal Bank of Canada restated a hold rating and set a $18.00 target price on shares of Wendy’s in a research report on Friday, December 22nd. TheStreet upgraded shares of Wendy’s from a c+ rating to a b- rating in a research report on Thursday, December 28th. Finally, SunTrust Banks boosted their target price on shares of Wendy’s to $22.00 in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. Wendy’s presently has a consensus rating of Hold and a consensus price target of $17.57.
Shares of NASDAQ WEN opened at $17.15 on Wednesday. The company has a debt-to-equity ratio of 4.75, a current ratio of 1.78 and a quick ratio of 1.77. The company has a market cap of $4,163.42, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 1.63 and a beta of 0.75. Wendy’s has a 12-month low of $13.57 and a 12-month high of $17.75.
Wendy’s (NASDAQ:WEN) last announced its earnings results on Wednesday, February 21st. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $309.25 million for the quarter. Wendy’s had a net margin of 15.86% and a return on equity of 21.24%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS. equities research analysts anticipate that Wendy’s will post 0.55 EPS for the current year.
Wendy’s declared that its board has approved a stock repurchase program on Thursday, February 15th that authorizes the company to repurchase $175.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In other news, major shareholder Trian Partners Parallel Fund I sold 5,000,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $16.50, for a total value of $82,500,000.00. Following the transaction, the insider now owns 5,409,971 shares of the company’s stock, valued at $89,264,521.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Emil J. Brolick sold 540,540 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $17.14, for a total transaction of $9,264,855.60. Following the completion of the transaction, the director now directly owns 1,371,835 shares in the company, valued at approximately $23,513,251.90. The disclosure for this sale can be found here. 26.50% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in WEN. Legal & General Group Plc raised its stake in Wendy’s by 3.7% during the third quarter. Legal & General Group Plc now owns 241,301 shares of the restaurant operator’s stock valued at $3,748,000 after purchasing an additional 8,687 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Wendy’s by 2.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 695,775 shares of the restaurant operator’s stock valued at $10,806,000 after acquiring an additional 19,370 shares during the last quarter. California Public Employees Retirement System increased its position in Wendy’s by 2.3% during the third quarter. California Public Employees Retirement System now owns 561,588 shares of the restaurant operator’s stock valued at $8,721,000 after acquiring an additional 12,537 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Wendy’s by 8.2% during the third quarter. Parametric Portfolio Associates LLC now owns 839,701 shares of the restaurant operator’s stock valued at $13,041,000 after acquiring an additional 63,788 shares during the last quarter. Finally, North Star Investment Management Corp. increased its position in Wendy’s by 3.8% during the fourth quarter. North Star Investment Management Corp. now owns 138,320 shares of the restaurant operator’s stock valued at $2,271,000 after acquiring an additional 5,005 shares during the last quarter. 80.55% of the stock is currently owned by institutional investors.
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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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