Wendys (NASDAQ:WEN) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Wendys (NASDAQ:WEN) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, BidAskClub reports.

WEN has been the topic of a number of other research reports. Zacks Investment Research raised shares of Wendys from a hold rating to a buy rating and set a $20.00 target price on the stock in a research note on Saturday, June 15th. Goldman Sachs Group began coverage on shares of Wendys in a research note on Monday, July 29th. They issued a sell rating and a $17.50 target price on the stock. Stephens raised their target price on shares of Wendys to $22.00 and gave the company an overweight rating in a research note on Thursday, May 9th. BMO Capital Markets raised their target price on shares of Wendys from $19.00 to $21.00 and gave the company an outperform rating in a research note on Thursday, May 9th. Finally, Wedbush reaffirmed a hold rating and set a $20.00 price target on shares of Wendys in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $20.05.

Shares of WEN stock opened at $20.67 on Friday. The company’s fifty day simple moving average is $19.28 and its 200-day simple moving average is $18.50. Wendys has a 52 week low of $14.96 and a 52 week high of $20.80. The company has a current ratio of 1.97, a quick ratio of 1.96 and a debt-to-equity ratio of 5.67. The company has a market cap of $4.60 billion, a PE ratio of 35.03, a P/E/G ratio of 2.21 and a beta of 0.72.

Wendys (NASDAQ:WEN) last issued its earnings results on Wednesday, August 7th. The restaurant operator reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The business had revenue of $435.30 million for the quarter, compared to the consensus estimate of $439.64 million. During the same quarter last year, the firm posted $0.14 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts expect that Wendys will post 0.63 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, August 30th. Wendys’s payout ratio is 67.80%.

In other Wendys news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the firm’s stock in a transaction 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 approximately $108,340,973. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew H. Peltz sold 2,000,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $19.97, for a total transaction of $39,940,000.00. Following the transaction, the director now directly owns 5,444,270 shares of the company’s stock, valued at $108,722,071.90. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Wendys by 1.3% during the 2nd quarter. BlackRock Inc. now owns 16,840,359 shares of the restaurant operator’s stock worth $329,735,000 after acquiring an additional 211,285 shares in the last quarter. Invesco Ltd. grew its holdings in Wendys by 65.5% during the 2nd quarter. Invesco Ltd. now owns 10,441,578 shares of the restaurant operator’s stock worth $204,447,000 after acquiring an additional 4,131,438 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Wendys by 2.2% during the 2nd quarter. Wells Fargo & Company MN now owns 9,948,238 shares of the restaurant operator’s stock worth $194,787,000 after acquiring an additional 211,568 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Wendys by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 5,419,827 shares of the restaurant operator’s stock worth $96,961,000 after acquiring an additional 98,309 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in Wendys by 0.8% during the 1st quarter. OppenheimerFunds Inc. now owns 3,353,385 shares of the restaurant operator’s stock worth $59,992,000 after acquiring an additional 25,748 shares in the last quarter. 77.69% of the stock is owned by institutional investors.

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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