Cowen Reiterates “Buy” Rating for Wendys (NASDAQ:WEN)

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Cowen reaffirmed their buy rating on shares of Wendys (NASDAQ:WEN) in a research report released on Friday morning, AnalystRatings.com reports. They currently have a $22.00 price target on the restaurant operator’s stock.

A number of other equities research analysts have also recently issued reports on the company. Guggenheim cut Wendys from a buy rating to a neutral rating and set a $22.00 price objective for the company. in a report on Monday, September 9th. Evercore ISI set a $20.00 price objective on Wendys and gave the stock a hold rating in a report on Wednesday, August 7th. Credit Suisse Group set a $21.00 price objective on Wendys and gave the stock a hold rating in a report on Tuesday, September 10th. SunTrust Banks boosted their price objective on Wendys from $22.00 to $24.00 and gave the stock a buy rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Co boosted their price objective on Wendys from $19.00 to $20.00 and gave the stock a market perform rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $21.07.

Shares of NASDAQ:WEN opened at $19.42 on Friday. Wendys has a 12-month low of $14.96 and a 12-month high of $22.84. The stock has a market cap of $4.53 billion, a PE ratio of 32.92, a P/E/G ratio of 2.37 and a beta of 0.66. The business has a 50 day moving average of $20.26 and a 200-day moving average of $18.93. The company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67.

Wendys (NASDAQ:WEN) last issued its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The company had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $439.64 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. Equities research analysts expect that Wendys will post 0.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.06%. Wendys’s payout ratio is 67.80%.

In other news, Director Matthew H. Peltz sold 2,000,000 shares of Wendys 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 directly owns 5,444,270 shares in the company, valued at $108,722,071.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Trian Fund Management, L.P. sold 475,000 shares of Wendys 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 sale, the insider now owns 5,444,270 shares of the company’s stock, valued at $108,340,973. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WEN. Coastal Capital Group Inc. acquired a new position in Wendys during the second quarter valued at approximately $30,000. Coastal Investment Advisors Inc. raised its position in Wendys by 116.6% during the second quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 978 shares in the last quarter. Advisory Services Network LLC raised its position in Wendys by 65.2% during the second quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 849 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Wendys during the first quarter valued at approximately $58,000. Finally, Carroll Financial Associates Inc. raised its position in Wendys by 226.6% during the second quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock valued at $75,000 after purchasing an additional 2,658 shares in the last quarter. Institutional investors own 77.94% 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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Analyst Recommendations for Wendys (NASDAQ:WEN)

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