Wendys (NASDAQ:WEN) Price Target Raised to $22.00 at Credit Suisse Group

Wendys (NASDAQ:WEN) had its price target hoisted by Credit Suisse Group from $21.00 to $22.00 in a report released on Thursday, Stock Target Advisor reports. Credit Suisse Group currently has a neutral rating on the restaurant operator’s stock.

A number of other brokerages have also weighed in on WEN. BTIG Research lowered shares of Wendys from a buy rating to a neutral rating in a research note on Tuesday, September 10th. SunTrust Banks lifted their target price on shares of Wendys to $26.00 and gave the company a buy rating in a research note on Monday, October 14th. Piper Jaffray Companies set a $22.00 target price on shares of Wendys and gave the company a buy rating in a research note on Wednesday, September 18th. BMO Capital Markets lifted their target price on shares of Wendys from $21.00 to $24.00 and gave the company an outperform rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research cut shares of Wendys from a hold rating to a sell rating and set a $22.00 price target for the company. in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. Wendys has an average rating of Hold and a consensus target price of $21.70.

NASDAQ WEN traded down $0.33 on Thursday, hitting $20.65. The stock had a trading volume of 3,309,900 shares, compared to its average volume of 3,322,713. The company has a market capitalization 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. Wendys has a 52-week low of $14.96 and a 52-week high of $22.84. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.96 and a current ratio of 1.97. The firm has a 50-day moving average of $20.76 and a 200-day moving average of $19.83.

Wendys (NASDAQ:WEN) last announced its quarterly earnings results on Wednesday, November 6th. The restaurant operator reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $437.88 million for the quarter, compared to analyst estimates of $434.45 million. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. As a group, research analysts anticipate that Wendys will post 0.57 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.32%. This is a boost from Wendys’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, November 29th. Wendys’s payout ratio is presently 67.80%.

In other news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total transaction of $9,452,500.00. Following the completion of the transaction, the insider now directly owns 5,444,270 shares of the company’s stock, valued at $108,340,973. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider E.J. Wunsch sold 3,694 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were 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 $1,075,728.99. The disclosure for this sale can be found here. Insiders have sold 2,478,694 shares of company stock valued at $49,468,264 over the last three months. 20.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Wendys by 1.3% during the second quarter. BlackRock Inc. now owns 16,840,359 shares of the restaurant operator’s stock valued at $329,735,000 after buying an additional 211,285 shares during the period. Invesco Ltd. grew its position in 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 period. Wells Fargo & Company MN grew its position in Wendys by 2.2% during the second quarter. Wells Fargo & Company MN now owns 9,948,238 shares of the restaurant operator’s stock valued at $194,787,000 after buying an additional 211,568 shares during the period. Bank of New York Mellon Corp grew its position in Wendys by 6.9% during the second quarter. Bank of New York Mellon Corp now owns 3,226,703 shares of the restaurant operator’s stock valued at $63,178,000 after buying an additional 209,386 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Wendys by 14.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,909,065 shares of the restaurant operator’s stock valued at $58,123,000 after buying an additional 363,545 shares during the period. Institutional investors own 76.34% of the company’s stock.

About Wendys

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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Analyst Recommendations for Wendys (NASDAQ:WEN)

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