Wendys (NASDAQ:WEN) Lifted to “Buy” at ValuEngine

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ValuEngine upgraded shares of Wendys (NASDAQ:WEN) from a hold rating to a buy rating in a report released on Tuesday, ValuEngine reports.

Several other analysts have also weighed in on WEN. Stephens set a $22.00 price objective on Wendys and gave the company a buy rating in a report on Tuesday, September 10th. Cowen reissued a buy rating and issued a $22.00 price objective on shares of Wendys in a report on Friday, September 13th. JPMorgan Chase & Co. boosted their price objective on Wendys from $20.00 to $21.00 and gave the company an overweight rating in a report on Friday, June 28th. Goldman Sachs Group assumed coverage on Wendys in a report on Monday, July 29th. They issued a sell rating and a $17.50 price objective for the company. Finally, BMO Capital Markets set a $21.00 price objective on Wendys and gave the company a buy rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $21.07.

Shares of Wendys stock opened at $20.55 on Tuesday. 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 firm has a market cap of $4.64 billion, a P/E ratio of 34.83, a P/E/G ratio of 2.35 and a beta of 0.66. Wendys has a fifty-two week low of $14.96 and a fifty-two week high of $22.84. The business has a 50-day moving average price of $20.39 and a 200 day moving average price of $19.01.

Wendys (NASDAQ:WEN) last announced its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The firm 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%. Wendys’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. As a group, equities research analysts anticipate that Wendys will post 0.58 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.95%. Wendys’s payout ratio is currently 67.80%.

In other 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 transaction of $9,452,500.00. Following the completion of the transaction, the insider now directly owns 5,444,270 shares in the company, valued at $108,340,973. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 stock was sold at an average price of $19.97, for a total value of $39,940,000.00. Following the transaction, the director now 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. Insiders own 20.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Holocene Advisors LP increased its holdings in shares of Wendys by 2,361.6% in the second quarter. Holocene Advisors LP now owns 1,669,013 shares of the restaurant operator’s stock valued at $32,679,000 after buying an additional 1,601,211 shares in the last quarter. US Bancorp DE raised its position in Wendys by 12.0% in the second quarter. US Bancorp DE now owns 269,381 shares of the restaurant operator’s stock worth $5,274,000 after purchasing an additional 28,826 shares in the last quarter. Greenleaf Trust acquired a new position in Wendys in the second quarter worth about $12,300,000. Menta Capital LLC raised its position in Wendys by 21.0% in the second quarter. Menta Capital LLC now owns 65,200 shares of the restaurant operator’s stock worth $1,277,000 after purchasing an additional 11,318 shares in the last quarter. Finally, BB&T Securities LLC acquired a new position in Wendys in the second quarter worth about $234,000. Institutional investors and hedge funds own 76.56% of the company’s stock.

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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Analyst Recommendations for Wendys (NASDAQ:WEN)

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