Wendys (NASDAQ:WEN) Given a $22.00 Price Target by Stephens Analysts
Wendys (NASDAQ:WEN) has been assigned a $22.00 price objective by analysts at Stephens in a research report issued on Tuesday, TipRanks reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Stephens’ target price would indicate a potential upside of 12.13% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. Goldman Sachs Group initiated coverage on shares of Wendys in a research note on Monday, July 29th. They issued a “sell” rating and a $17.50 price objective on the stock. Longbow Research restated a “buy” rating on shares of Wendys in a report on Wednesday, September 4th. MKM Partners set a $20.00 target price on shares of Wendys and gave the stock a “hold” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Wendys from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a report on Friday, August 23rd. Finally, SunTrust Banks increased their price target on shares of Wendys from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company. Wendys has a consensus rating of “Hold” and an average target price of $20.83.
WEN traded down $0.09 during trading on Tuesday, reaching $19.62. 4,905,163 shares of the stock were exchanged, compared to its average volume of 3,240,024. The business’s 50 day moving average price is $20.23 and its two-hundred day moving average price is $18.92. The company has a debt-to-equity ratio of 5.67, a current ratio of 1.97 and a quick ratio of 1.96. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 33.25, a P/E/G ratio of 2.43 and a beta of 0.66. Wendys has a 1 year low of $14.96 and a 1 year high of $22.84.
In other news, Director Matthew H. Peltz sold 2,000,000 shares of Wendys stock in a transaction 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 completion of the sale, the director now owns 5,444,270 shares of the company’s stock, valued at $108,722,071.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Trian Fund Management, L.P. sold 475,000 shares of Wendys stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total value of $9,452,500.00. Following the completion of the sale, the insider now directly owns 5,444,270 shares of the company’s stock, valued at approximately $108,340,973. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in Wendys by 65.5% during the second quarter. Invesco Ltd. now owns 10,441,578 shares of the restaurant operator’s stock worth $204,447,000 after purchasing an additional 4,131,438 shares during the last quarter. Holocene Advisors LP grew its stake in shares of Wendys by 2,361.6% during the 2nd 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 during the period. Prudential Financial Inc. grew its stake in shares of Wendys by 1,406.4% during the 2nd quarter. Prudential Financial Inc. now owns 1,621,181 shares of the restaurant operator’s stock valued at $31,743,000 after buying an additional 1,513,560 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Wendys by 1,369.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,612,184 shares of the restaurant operator’s stock worth $31,567,000 after buying an additional 1,502,470 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Wendys by 57.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,956,664 shares of the restaurant operator’s stock worth $52,895,000 after buying an additional 1,074,389 shares during the last quarter. Hedge funds and other 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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