Tigress Financial restated their buy rating on shares of Wendys (NASDAQ:WEN) in a research note released on Thursday, TipRanks reports.
Several other analysts have also recently commented on the stock. Telsey Advisory Group boosted their price target on shares of Wendys from $22.00 to $24.00 and gave the stock an outperform rating in a research note on Thursday, November 7th. Stephens set a $24.00 price objective on Wendys and gave the company a buy rating in a research report on Friday, October 11th. Morgan Stanley raised their price objective on Wendys from $22.00 to $24.00 and gave the company an equal weight rating in a research report on Thursday. BidaskClub cut Wendys from a buy rating to a hold rating in a report on Tuesday, October 29th. Finally, Longbow Research reiterated a buy rating and issued a $25.00 target price on shares of Wendys in a research report on Friday, December 13th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $21.89.
Wendys stock opened at $22.26 on Thursday. The stock has a market cap of $5.09 billion, a P/E ratio of 37.73, a PEG ratio of 3.31 and a beta of 0.64. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.00 and a quick ratio of 1.99. Wendys has a 1 year low of $14.96 and a 1 year high of $22.84. The firm’s 50 day moving average price is $21.24 and its 200-day moving average price is $20.36.
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Wendys’s previous quarterly dividend of $0.10. Wendys’s dividend payout ratio is presently 81.36%.
In other Wendys news, insider E.J. Wunsch sold 3,694 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $20.51, for a total value of $75,763.94. Following the completion of the sale, the insider now owns 52,449 shares of the company’s stock, valued at $1,075,728.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Leigh A. Burnside sold 13,335 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $20.95, for a total value of $279,368.25. Following the transaction, the chief accounting officer now owns 43,214 shares of the company’s stock, valued at approximately $905,333.30. The disclosure for this sale can be found here. Insiders have sold 300,762 shares of company stock valued at $6,409,994 over the last ninety days. 20.90% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC boosted its holdings in Wendys by 65.2% during the 2nd quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock valued at $43,000 after acquiring an additional 849 shares during the period. Quantamental Technologies LLC bought a new position in Wendys in the 2nd quarter valued at $99,000. Cribstone Capital Management LLC purchased a new stake in Wendys in the third quarter worth $113,000. CSat Investment Advisory L.P. purchased a new stake in Wendys in the second quarter worth $116,000. Finally, Toronto Dominion Bank bought a new stake in shares of Wendys during the second quarter worth $111,000. 72.17% of the stock is owned by hedge funds and other institutional investors.
Wendys Company Profile
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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