Wendys (NASDAQ:WEN) has been assigned a $20.00 target price by investment analysts at MKM Partners in a report released on Tuesday, TipRanks reports. The firm presently has a “hold” rating on the restaurant operator’s stock. MKM Partners’ price objective would suggest a potential upside of 1.94% from the company’s current price.
WEN has been the topic of a number of other research reports. Goldman Sachs Group started coverage on shares of Wendys in a report on Monday, July 29th. They issued a “sell” rating and a $17.50 price target on the stock. Zacks Investment Research cut shares of Wendys from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research report on Friday, August 23rd. Longbow Research reaffirmed a “buy” rating on shares of Wendys in a report on Wednesday, September 4th. BidaskClub lowered shares of Wendys from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Guggenheim cut Wendys from a “buy” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research note on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $20.83.
Shares of WEN stock traded down $0.09 on Tuesday, reaching $19.62. The company’s stock had a trading volume of 4,905,163 shares, compared to its average volume of 3,240,024. The company has a market capitalization of $4.52 billion, a P/E ratio of 33.25, a PEG ratio of 2.43 and a beta of 0.66. Wendys has a 12-month low of $14.96 and a 12-month high of $22.84. The stock’s 50 day simple moving average is $20.23 and its 200-day simple moving average is $18.92. The company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67.
In related news, 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 transaction, the insider now directly owns 5,444,270 shares of the company’s stock, valued at $108,340,973. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $39,940,000.00. Following the completion of the transaction, the director now directly owns 5,444,270 shares in the company, valued at $108,722,071.90. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Coastal Capital Group Inc. purchased a new position in Wendys during the 2nd quarter valued at about $30,000. Coastal Investment Advisors Inc. raised its position in Wendys by 116.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 978 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Wendys by 65.2% in the 2nd quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock worth $43,000 after buying an additional 849 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in Wendys in the 1st quarter worth approximately $58,000. Finally, Carroll Financial Associates Inc. lifted its holdings in Wendys by 226.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock worth $75,000 after buying an additional 2,658 shares during the period. 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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