Wendy’s Company (The) (NASDAQ:WEN) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Wendy’s Company (The) (NASDAQ:WEN) from a hold rating to a buy rating in a research report report published on Thursday, July 20th. The brokerage currently has $18.00 target price on the restaurant operator’s stock.

According to Zacks, “Wendy’s shares outpaced the Zacks classified Retail–Restaurants industry in the last one year. It has mostly positive record of earnings surprises in recent quarters and estimates have been stable ahead of its Q2 earnings release. Sales initiatives like menu innovation and promotional offerings are driving growth at Wendy’s. Increased investments in technology should quicken service and result in higher customer count. Reimaging of restaurants is also expected to boost traffic and drive sales. Yet, Wendy’s revenues have been declining year over year over the past few quarters given lower company-operated restaurants count. Though Wendy's transition to a franchise-based business model has been weighing on revenues, it is likely to lower G&A expenses and boost earnings, 2017 onwards. Its international business is poised to be a long-term growth driver too. Yet, rising costs and a soft industry backdrop raise concern.”

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada lifted their price target on Wendy’s Company (The) from $11.00 to $15.00 and gave the stock a sector perform rating in a research note on Thursday, May 11th. Instinet reiterated a neutral rating and issued a $15.00 price target (up from $11.00) on shares of Wendy’s Company (The) in a research note on Thursday, May 11th. SunTrust Banks, Inc. set a $18.00 target price on Wendy’s Company (The) and gave the company a buy rating in a research note on Thursday, May 11th. Stephens lifted their target price on Wendy’s Company (The) from $16.00 to $18.00 and gave the company an overweight rating in a research note on Thursday, May 11th. Finally, Vetr downgraded Wendy’s Company (The) from a buy rating to a hold rating and set a $16.92 target price for the company. in a research note on Wednesday, May 24th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $15.73.

Shares of Wendy’s Company (NASDAQ WEN) opened at 15.22 on Thursday. Wendy’s Company has a 12 month low of $9.39 and a 12 month high of $16.66. The firm has a market capitalization of $3.74 billion, a PE ratio of 30.87 and a beta of 0.97. The company has a 50 day moving average price of $15.54 and a 200-day moving average price of $14.66.

Wendy’s Company (The) (NASDAQ:WEN) last posted its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.05. Wendy’s Company (The) had a return on equity of 16.31% and a net margin of 9.43%. Equities research analysts expect that Wendy’s Company will post $0.46 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.84%. Wendy’s Company (The)’s dividend payout ratio is presently 58.33%.

In other news, major shareholder Trian Partners Parallel Fund I sold 5,500,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $15.97, for a total transaction of $87,835,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 26.50% of the company’s stock.

Large investors have recently made changes to their positions in the company. Elkfork Partners LLC boosted its stake in shares of Wendy’s Company (The) by 1.3% in the first quarter. Elkfork Partners LLC now owns 10,406 shares of the restaurant operator’s stock valued at $142,000 after buying an additional 132 shares during the last quarter. AMG National Trust Bank boosted its stake in shares of Wendy’s Company (The) by 12.2% in the first quarter. AMG National Trust Bank now owns 41,360 shares of the restaurant operator’s stock valued at $563,000 after buying an additional 4,483 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Wendy’s Company (The) by 60.2% in the first quarter. First Trust Advisors LP now owns 417,244 shares of the restaurant operator’s stock valued at $5,679,000 after buying an additional 156,817 shares during the last quarter. Tyers Asset Management LLC boosted its stake in shares of Wendy’s Company (The) by 1.3% in the first quarter. Tyers Asset Management LLC now owns 7,568 shares of the restaurant operator’s stock valued at $103,000 after buying an additional 96 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Wendy’s Company (The) by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 70,770 shares of the restaurant operator’s stock valued at $963,000 after buying an additional 900 shares during the last quarter. 77.76% of the stock is currently owned by hedge funds and other institutional investors.

Wendy’s Company (The) Company Profile

The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.

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Analyst Recommendations for Wendy`s Company (The) (NASDAQ:WEN)

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