Cowen Reiterates “Buy” Rating for Wendys (NASDAQ:WEN)

Cowen reiterated their buy rating on shares of Wendys (NASDAQ:WEN) in a report released on Friday morning, AnalystRatings.com reports. The brokerage currently has a $22.00 price target on the restaurant operator’s stock.

WEN has been the subject of a number of other research reports. Zacks Investment Research cut Wendys from a buy rating to a hold rating and set a $23.00 target price for the company. in a report on Friday, August 23rd. Longbow Research reiterated a buy rating on shares of Wendys in a report on Wednesday, September 4th. Oppenheimer set a $24.00 target price on Wendys and gave the stock a buy rating in a report on Tuesday, September 10th. Credit Suisse Group set a $21.00 target price on Wendys and gave the stock a hold rating in a report on Tuesday, September 10th. Finally, Goldman Sachs Group began coverage on Wendys in a report on Monday, July 29th. They set a sell rating and a $17.50 target price for the company. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $21.07.

NASDAQ WEN opened at $19.56 on Friday. Wendys has a 12 month low of $14.96 and a 12 month high of $22.84. The company has a 50-day moving average of $20.30 and a 200-day moving average of $18.97. 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 cap of $4.53 billion, a P/E ratio of 33.15, a P/E/G ratio of 2.37 and a beta of 0.66.

Wendys (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The company had revenue of $435.30 million during the quarter, compared to the consensus estimate of $439.64 million. During the same quarter in the prior year, the company posted $0.14 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Wendys will post 0.58 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Friday, August 30th. Wendys’s dividend payout ratio is presently 67.80%.

In other Wendys news, Director Matthew H. Peltz sold 2,000,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 5,444,270 shares of the company’s stock, valued at approximately $108,722,071.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 5,444,270 shares in the company, valued at $108,340,973. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in WEN. Coastal Capital Group Inc. acquired a new position in shares of Wendys in the 2nd quarter valued at approximately $30,000. Coastal Investment Advisors Inc. raised its position in shares of Wendys by 116.6% in 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 in the last quarter. Advisory Services Network LLC raised its position in shares of Wendys by 65.2% in the 2nd quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 849 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Wendys in the 1st quarter valued at approximately $58,000. Finally, Carroll Financial Associates Inc. raised its position in shares of Wendys by 226.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock valued at $75,000 after purchasing an additional 2,658 shares in the last quarter. 76.56% 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.

Further Reading: Equal Weight Rating

Analyst Recommendations for Wendys (NASDAQ:WEN)

Receive News & Ratings for Wendys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wendys and related companies with MarketBeat.com's FREE daily email newsletter.