Wendys (NASDAQ:WEN) Now Covered by Analysts at Royal Bank of Canada
Royal Bank of Canada began coverage on shares of Wendys (NASDAQ:WEN) in a report released on Monday morning, The Fly reports. The firm issued a sector perform rating and a $22.00 price target on the restaurant operator’s stock.
Several other research analysts also recently commented on the company. Cowen downgraded Wendys from an outperform rating to a market perform rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Monday, October 7th. Guggenheim cut Wendys from a buy rating to a neutral rating and set a $22.00 target price on the stock. in a report on Monday, September 9th. SunTrust Banks upped their price target on shares of Wendys to $26.00 and gave the stock a buy rating in a research report on Monday, October 14th. BidaskClub cut shares of Wendys from a buy rating to a hold rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley boosted their target price on shares of Wendys from $19.00 to $22.00 and gave the stock an equal weight rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $21.80.
Wendys stock opened at $21.70 on Monday. The business has a 50 day simple moving average of $21.12 and a 200 day simple moving average of $20.19. Wendys has a one year low of $14.96 and a one year high of $22.84. The company has a market capitalization of $4.96 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 3.23 and a beta of 0.64. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.00 and a quick ratio of 1.99.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Wendys’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 2.21%. Wendys’s payout ratio is presently 81.36%.
In other Wendys news, insider E.J. Wunsch sold 3,694 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $20.51, for a total transaction of $75,763.94. Following the completion of the sale, the insider now directly owns 52,449 shares of the company’s stock, valued at approximately $1,075,728.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Allan Penegor sold 283,733 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $21.34, for a total value of $6,054,862.22. Following the completion of the sale, the chief executive officer now directly owns 685,029 shares of the company’s stock, valued at $14,618,518.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 300,762 shares of company stock worth $6,409,994. 20.90% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in WEN. Maverick Capital Ltd. purchased a new position in shares of Wendys in the 3rd quarter worth about $12,557,000. Man Group plc boosted its stake in Wendys by 72.2% in the third quarter. Man Group plc now owns 769,447 shares of the restaurant operator’s stock valued at $15,374,000 after acquiring an additional 322,561 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Wendys by 48.5% during the 3rd quarter. Squarepoint Ops LLC now owns 1,312,868 shares of the restaurant operator’s stock valued at $26,231,000 after acquiring an additional 428,815 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Wendys in the 3rd quarter worth approximately $1,453,000. Finally, Point72 Asset Management L.P. raised its holdings in shares of Wendys by 2,741.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,358,567 shares of the restaurant operator’s stock worth $47,124,000 after purchasing an additional 2,275,555 shares during the period. 72.20% of the stock is currently owned by institutional investors.
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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