Other research analysts have also issued research reports about the company. Evercore ISI set a $20.00 price target on Wendys and gave the stock a “hold” rating in a research report on Wednesday, August 7th. MKM Partners set a $20.00 price target on Wendys and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Credit Suisse Group set a $21.00 price target on Wendys and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Cowen reiterated a “buy” rating and issued a $22.00 price target on shares of Wendys in a research report on Friday. Finally, Goldman Sachs Group initiated coverage on Wendys in a research report on Monday, July 29th. They issued a “sell” rating and a $17.50 price target for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $21.07.
WEN traded up $0.53 on Tuesday, hitting $20.09. The company had a trading volume of 4,880,517 shares, compared to its average volume of 3,251,756. The company has a market cap of $4.63 billion, a PE ratio of 34.05, a PEG ratio of 2.34 and a beta of 0.66. Wendys has a 12-month low of $14.96 and a 12-month high of $22.84. The company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67. The business’s fifty day simple moving average is $20.32 and its 200 day simple moving average is $18.98.
Wendys (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $435.30 million during the quarter, compared to analyst estimates of $439.64 million. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. On average, analysts anticipate that Wendys will post 0.58 earnings per share for the current fiscal year.
In related 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew H. Peltz sold 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were 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. 20.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank purchased a new stake in shares of Wendys in the second quarter valued at approximately $111,000. Atria Investments LLC purchased a new stake in shares of Wendys in the second quarter valued at approximately $506,000. BlackRock Inc. boosted its holdings in shares of Wendys by 1.3% in the second quarter. BlackRock Inc. now owns 16,840,359 shares of the restaurant operator’s stock valued at $329,735,000 after purchasing an additional 211,285 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Wendys by 70.7% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 968,959 shares of the restaurant operator’s stock valued at $18,973,000 after purchasing an additional 401,238 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Wendys by 16.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,600 shares of the restaurant operator’s stock worth $266,000 after buying an additional 1,881 shares in the last quarter. Hedge funds and other institutional investors own 76.56% of the company’s stock.
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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