Wendys (WEN) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Wendys (NASDAQ:WEN) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus initiated coverage on Wendys in a research report on Monday, October 2nd. They set a buy rating and a $18.00 target price for the company. SunTrust Banks reissued a buy rating and issued a $18.00 price objective on shares of Wendys in a report on Monday, October 2nd. Longbow Research raised Wendys from a neutral rating to a buy rating and lifted their price objective for the stock from $15.23 to $18.00 in a report on Friday, September 15th. Nomura decreased their price objective on Wendys from $15.00 to $14.50 and set a neutral rating for the company in a report on Thursday, November 9th. Finally, BMO Capital Markets decreased their price objective on Wendys from $19.00 to $17.00 and set an outperform rating for the company in a report on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Wendys presently has a consensus rating of Hold and an average price target of $16.63.

Shares of Wendys (NASDAQ WEN) traded up $0.09 during trading on Wednesday, hitting $16.44. The stock had a trading volume of 5,168,847 shares, compared to its average volume of 2,991,451. Wendys has a 1 year low of $13.03 and a 1 year high of $16.98. The stock has a market cap of $4,015.62, a price-to-earnings ratio of 65.76, a PEG ratio of 2.92 and a beta of 0.93. The company has a current ratio of 1.80, a quick ratio of 1.78 and a debt-to-equity ratio of 5.83.

Wendys (NASDAQ:WEN) last announced its earnings results on Wednesday, November 8th. The restaurant operator reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.03). Wendys had a net margin of 5.20% and a return on equity of 20.35%. The business had revenue of $308.00 million for the quarter. During the same period in the previous year, the company posted $0.11 earnings per share. Wendys’s revenue was down 15.4% on a year-over-year basis. equities analysts forecast that Wendys will post 0.44 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Thursday, November 30th. Wendys’s payout ratio is presently 112.00%.

In other news, insider E.J. Wunsch sold 3,548 shares of Wendys stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $15.43, for a total transaction of $54,745.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott A. Weisberg purchased 10,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average price of $14.29 per share, with a total value of $142,900.00. Following the transaction, the insider now owns 199,014 shares in the company, valued at approximately $2,843,910.06. The disclosure for this purchase can be found here. 26.50% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of WEN. Janus Henderson Group PLC bought a new stake in shares of Wendys during the 2nd quarter valued at about $189,448,000. Castleark Management LLC bought a new stake in shares of Wendys during the 2nd quarter valued at about $14,085,000. Renaissance Technologies LLC lifted its position in Wendys by 208.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,208,522 shares of the restaurant operator’s stock worth $18,744,000 after buying an additional 817,040 shares during the last quarter. Marshall Wace North America L.P. lifted its position in Wendys by 1,466.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 803,766 shares of the restaurant operator’s stock worth $12,860,000 after buying an additional 752,454 shares during the last quarter. Finally, FMR LLC lifted its position in Wendys by 1,023.5% in the 2nd quarter. FMR LLC now owns 799,897 shares of the restaurant operator’s stock worth $12,406,000 after buying an additional 728,697 shares during the last quarter. Hedge funds and other institutional investors own 76.33% 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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