Wendys (NASDAQ:WEN) Given New $24.00 Price Target at Telsey Advisory Group

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Wendys (NASDAQ:WEN) had its price target raised by Telsey Advisory Group from $22.00 to $24.00 in a research note issued to investors on Thursday, Briefing.com Automated Import reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.

WEN has been the topic of a number of other reports. KeyCorp reissued a hold rating on shares of Wendys in a research report on Tuesday, October 15th. Morgan Stanley increased their price objective on shares of Wendys from $19.00 to $22.00 and gave the stock an equal weight rating in a research report on Monday, October 14th. Wells Fargo & Co increased their price objective on shares of Wendys from $19.00 to $20.00 and gave the stock a market perform rating in a research report on Tuesday, September 10th. BMO Capital Markets increased their price objective on shares of Wendys from $21.00 to $24.00 and gave the stock an outperform rating in a research report on Wednesday, October 2nd. Finally, SunTrust Banks increased their price objective on shares of Wendys to $26.00 and gave the stock a buy rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $21.70.

Wendys stock traded down $0.33 during mid-day trading on Thursday, hitting $20.65. The stock had a trading volume of 3,309,900 shares, compared to its average volume of 3,322,713. The company has a current ratio of 1.97, a quick ratio of 1.96 and a debt-to-equity ratio of 5.67. Wendys has a one year low of $14.96 and a one year high of $22.84. The firm has a market capitalization of $4.81 billion, a P/E ratio of 35.00, a P/E/G ratio of 3.00 and a beta of 0.67. The firm’s 50 day moving average is $20.76 and its 200 day moving average is $19.83.

Wendys (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, November 6th. The restaurant operator reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The company had revenue of $437.88 million for the quarter, compared to analyst estimates of $434.45 million. During the same period in the prior year, the company posted $0.17 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Wendys will post 0.57 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Wendys’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.32%. Wendys’s dividend payout ratio (DPR) is 67.80%.

In other news, insider E.J. Wunsch sold 3,694 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $20.51, for a total transaction of $75,763.94. Following the transaction, the insider now directly owns 52,449 shares in the company, valued at $1,075,728.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the 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 transaction, the insider now owns 5,444,270 shares in the company, valued at $108,340,973. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,478,694 shares of company stock worth $49,468,264. Corporate insiders own 20.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WEN. Coastal Capital Group Inc. acquired a new stake in Wendys in the second quarter valued at approximately $30,000. Coastal Investment Advisors Inc. boosted its stake in Wendys by 116.6% in the second quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 978 shares in the last quarter. Advisory Services Network LLC boosted its stake in Wendys by 65.2% in the second quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock valued at $43,000 after acquiring an additional 849 shares in the last quarter. Carroll Financial Associates Inc. boosted its stake in Wendys by 226.6% in the second quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock valued at $75,000 after acquiring an additional 2,658 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in Wendys in the second quarter valued at approximately $99,000. Hedge funds and other institutional investors own 76.34% 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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