Credit Suisse Group set a $21.00 target price on Wendys (NASDAQ:WEN) in a report published on Tuesday morning, TipRanks reports. The firm currently has a hold rating on the restaurant operator’s stock.
A number of other brokerages also recently issued reports on WEN. SunTrust Banks raised their price target on shares of Wendys from $22.00 to $24.00 and gave the company a buy rating in a report on Tuesday. Longbow Research reissued a buy rating on shares of Wendys in a report on Wednesday, September 4th. Guggenheim downgraded shares of Wendys from a buy rating to a neutral rating and set a $22.00 price objective on the stock. in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Wendys from $20.00 to $21.00 and gave the company an overweight rating in a research report on Friday, June 28th. Finally, 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. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $20.83.
Shares of NASDAQ:WEN traded down $0.09 during midday trading on Tuesday, reaching $19.62. 4,905,163 shares of the company’s stock traded hands, compared to its average volume of 3,240,024. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 33.25, a P/E/G ratio of 2.43 and a beta of 0.66. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.96 and a current ratio of 1.97. Wendys has a one year low of $14.96 and a one year high of $22.84. The stock has a 50 day moving average of $20.25 and a 200 day moving average of $18.92.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 2.04%. Wendys’s dividend payout ratio (DPR) is 67.80%.
In other Wendys news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.90, for a total value of $9,452,500.00. Following the completion of the sale, the insider now owns 5,444,270 shares in the company, valued at $108,340,973. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Matthew H. Peltz sold 2,000,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 5,444,270 shares of the company’s stock, valued at approximately $108,722,071.90. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in WEN. Invesco Ltd. raised its position in shares of Wendys by 65.5% during the second quarter. Invesco Ltd. now owns 10,441,578 shares of the restaurant operator’s stock valued at $204,447,000 after buying an additional 4,131,438 shares during the last quarter. Holocene Advisors LP grew its stake in Wendys by 2,361.6% during the second quarter. Holocene Advisors LP now owns 1,669,013 shares of the restaurant operator’s stock valued at $32,679,000 after acquiring an additional 1,601,211 shares in the last quarter. Prudential Financial Inc. increased 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 valued at $31,743,000 after acquiring an additional 1,513,560 shares during the last quarter. Price T Rowe Associates Inc. MD increased 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 valued at $31,567,000 after acquiring an additional 1,502,470 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Wendys by 57.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,956,664 shares of the restaurant operator’s stock valued at $52,895,000 after acquiring an additional 1,074,389 shares during the last quarter. 77.94% of the stock is owned by institutional investors and hedge funds.
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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