BidaskClub upgraded shares of Wendys (NASDAQ:WEN) from a sell rating to a hold rating in a report issued on Saturday morning.
A number of other research firms have also commented on WEN. Zacks Investment Research upgraded shares of Wendys from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Sunday, July 15th. Argus reduced their price target on shares of Wendys from $19.00 to $16.34 and set a buy rating for the company in a research report on Thursday, May 17th. Citigroup boosted their price target on shares of Wendys from $19.00 to $21.00 and gave the company a buy rating in a research report on Tuesday, June 19th. Finally, Stifel Nicolaus boosted their price target on shares of Wendys from $18.00 to $20.00 and gave the company a buy rating in a research report on Wednesday, April 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $18.05.
Shares of NASDAQ WEN traded down $0.11 during midday trading on Friday, reaching $17.65. The company’s stock had a trading volume of 2,395,588 shares, compared to its average volume of 3,195,612. Wendys has a 12-month low of $13.57 and a 12-month high of $18.25. The company has a market capitalization of $4.21 billion, a PE ratio of 39.47, a PEG ratio of 1.64 and a beta of 0.54. The company has a quick ratio of 1.76, a current ratio of 1.71 and a debt-to-equity ratio of 6.44.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be issued a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, August 31st. Wendys’s dividend payout ratio is currently 79.07%.
In other news, Director Matthew H. Peltz sold 725,000 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $16.41, for a total transaction of $11,897,250.00. Following the sale, the director now directly owns 33,281 shares in the company, valued at approximately $546,141.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nelson Peltz sold 2,405,292 shares of the firm’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $16.43, for a total transaction of $39,518,947.56. Following the sale, the director now owns 9,893,461 shares in the company, valued at $162,549,564.23. The disclosure for this sale can be found here. Insiders sold 3,894,292 shares of company stock worth $64,045,118 over the last quarter. Insiders own 23.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank purchased a new position in shares of Wendys during the 2nd quarter worth about $112,000. PDS Planning Inc purchased a new stake in Wendys in the 1st quarter valued at about $163,000. United Capital Financial Advisers LLC bought a new stake in shares of Wendys in the 1st quarter valued at about $184,000. Wedbush Securities Inc. bought a new stake in shares of Wendys in the 1st quarter valued at about $189,000. Finally, Bbva Compass Bancshares Inc. bought a new stake in shares of Wendys in the 1st quarter valued at about $194,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.
The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.
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