Wendys (NASDAQ:WEN) received a $21.00 price target from equities research analysts at BMO Capital Markets in a research report issued to clients and investors on Tuesday, TipRanks reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. BMO Capital Markets’ target price points to a potential upside of 7.03% from the stock’s current price.
A number of other analysts have also recently commented on the stock. Piper Jaffray Companies started coverage on shares of Wendys in a research report on Monday, May 13th. They set an “overweight” rating and a $22.00 price target on the stock. SunTrust Banks increased their price target on Wendys from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI set a $20.00 price objective on Wendys and gave the stock a “hold” rating in a research report on Wednesday, August 7th. MKM Partners set a $20.00 price objective on Wendys and gave the company a “hold” rating in a research note on Tuesday. Finally, Guggenheim lowered Wendys from a “buy” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research report on Monday. One investment 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’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.83.
Wendys stock traded down $0.09 during mid-day trading on Tuesday, hitting $19.62. 4,905,163 shares of the stock were exchanged, compared to its average volume of 3,240,024. The stock has a market capitalization of $4.52 billion, a price-to-earnings 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 company has a quick ratio of 1.96, a current ratio of 1.97 and a debt-to-equity ratio of 5.67. The firm’s fifty day simple moving average is $20.23 and its two-hundred day simple moving average is $18.92.
In other Wendys news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.90, for a total transaction of $9,452,500.00. Following the transaction, the insider now owns 5,444,270 shares in the company, valued at $108,340,973. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew H. Peltz sold 2,000,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were 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 corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Greenleaf Trust acquired a new stake in shares of Wendys in the 2nd quarter worth about $12,300,000. Menta Capital LLC lifted its position in Wendys by 21.0% in the 2nd quarter. Menta Capital LLC now owns 65,200 shares of the restaurant operator’s stock valued at $1,277,000 after acquiring an additional 11,318 shares in the last quarter. Foundry Partners LLC bought a new position in Wendys in the 2nd quarter valued at about $2,017,000. BB&T Securities LLC acquired a new position in Wendys during the 2nd quarter valued at about $234,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in Wendys during the 1st quarter valued at about $58,000. Hedge funds and other institutional investors own 77.94% of the company’s stock.
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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