BidaskClub upgraded shares of Wendys (NASDAQ:WEN) from a strong sell rating to a sell rating in a report issued on Friday.
Other equities research analysts have also recently issued research reports about the stock. SunTrust Banks lifted their price target on shares of Wendys to $22.00 in a research note on Wednesday, January 3rd. TheStreet raised shares of Wendys from a c+ rating to a b- rating in a research note on Thursday, December 28th. Guggenheim raised shares of Wendys from a neutral rating to a buy rating in a research note on Friday, February 16th. Wedbush reaffirmed a buy rating and set a $20.00 target price on shares of Wendys in a research note on Thursday, February 22nd. Finally, Citigroup lifted their target price on shares of Wendys from $17.00 to $19.00 and gave the stock a buy rating in a research note on Monday, March 5th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Wendys presently has an average rating of Hold and a consensus price target of $17.40.
Shares of Wendys (NASDAQ WEN) opened at $17.52 on Friday. Wendys has a one year low of $13.03 and a one year high of $17.66. The stock has a market cap of $4,240.00, a price-to-earnings ratio of 87.60, a P/E/G ratio of 1.91 and a beta of 0.81. The company has a quick ratio of 1.77, a current ratio of 1.78 and a debt-to-equity ratio of 4.75.
Wendys declared that its board has approved a stock repurchase program on Thursday, February 15th that authorizes the company to buyback $175.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Wednesday, February 28th. This is a positive change from Wendys’s previous quarterly dividend of $0.07. Wendys’s payout ratio is currently 170.00%.
In other news, Director Emil J. Brolick sold 540,540 shares of Wendys 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 transaction, the director now owns 1,371,835 shares in the company, valued at approximately $23,513,251.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Trian Partners Parallel Fund I sold 5,000,000 shares of Wendys stock in a transaction on Monday, February 26th. The stock was 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 in the company, valued at approximately $89,264,521.50. The disclosure for this sale can be found here. 26.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its holdings in Wendys by 2.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 695,775 shares of the restaurant operator’s stock valued at $10,806,000 after buying an additional 19,370 shares during the period. Wells Fargo & Company MN raised its holdings in Wendys by 7.4% in the 4th quarter. Wells Fargo & Company MN now owns 8,547,151 shares of the restaurant operator’s stock valued at $140,344,000 after buying an additional 587,113 shares during the period. Jennison Associates LLC raised its holdings in Wendys by 1.0% in the 4th quarter. Jennison Associates LLC now owns 1,941,802 shares of the restaurant operator’s stock valued at $31,884,000 after buying an additional 18,756 shares during the period. Fort Pitt Capital Group LLC raised its holdings in Wendys by 6.5% in the 4th quarter. Fort Pitt Capital Group LLC now owns 2,071,787 shares of the restaurant operator’s stock valued at $34,019,000 after buying an additional 125,727 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in Wendys in the 4th quarter valued at about $220,000. Institutional investors and hedge funds own 79.47% 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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