Wendy’s (NASDAQ:WEN) Upgraded at Northcoast Research

Northcoast Research upgraded shares of Wendy’s (NASDAQ:WEN) from a sell rating to a neutral rating in a research report report published on Thursday, MarketBeat reports.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley set a $5.50 price target on shares of Wendy’s in a research note on Monday, August 10th. Seaport Research Partners assumed coverage on Wendy’s in a research report on Wednesday, September 16th. They issued a “neutral” rating on the stock. Stephens lifted their target price on Wendy’s from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Friday, November 6th. Royal Bank Of Canada lifted their target price on Wendy’s from $7.00 to $8.00 and gave the company a “sector perform” rating in a research note on Monday, November 9th. Finally, Citigroup boosted their price target on Wendy’s from $6.75 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 6th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, Wendy’s presently has an average rating of “Reduce” and an average price target of $7.56.

Wendy’s Stock Performance

Shares of WEN opened at $8.28 on Thursday. The firm has a fifty day moving average of $6.96 and a 200-day moving average of $7.36. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.47 and a beta of 0.37. The company has a debt-to-equity ratio of 27.00, a quick ratio of 1.87 and a current ratio of 1.89. Wendy’s has a 1 year low of $5.94 and a 1 year high of $9.45.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings data on Thursday, November 5th. The restaurant operator reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $435.62 million for the quarter, compared to analysts’ expectations of $531.28 million. Wendy’s had a net margin of 4.40% and a return on equity of 93.77%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. As a group, equities analysts anticipate that Wendy’s will post 0.51 earnings per share for the current year.

Wendy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, December 1st. Wendy’s’s payout ratio is 54.90%.

Institutional Trading of Wendy’s

A number of institutional investors have recently made changes to their positions in WEN. Covestor Ltd boosted its position in shares of Wendy’s by 21.7% in the 2nd quarter. Covestor Ltd now owns 9,643 shares of the restaurant operator’s stock worth $80,000 after purchasing an additional 1,720 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Wendy’s by 72.2% during the third quarter. Global Retirement Partners LLC now owns 5,636 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 2,363 shares during the period. Bessemer Group Inc. increased its holdings in Wendy’s by 0.7% in the third quarter. Bessemer Group Inc. now owns 382,977 shares of the restaurant operator’s stock valued at $2,443,000 after purchasing an additional 2,673 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Wendy’s by 10.3% in the first quarter. The Manufacturers Life Insurance Company now owns 37,778 shares of the restaurant operator’s stock valued at $263,000 after purchasing an additional 3,516 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in Wendy’s by 0.7% in the third quarter. Public Sector Pension Investment Board now owns 545,891 shares of the restaurant operator’s stock valued at $3,469,000 after purchasing an additional 3,671 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

More Wendy’s News

These are some of the WEN news items that stood out recently:

• Positive Sentiment: Northcoast Research upgraded Wendy’s from “sell” to “neutral,” a modest improvement in analyst sentiment. Northcoast Research ratings
• Neutral Sentiment: Wendy’s is reportedly a stalking-horse bidder for franchisee assets. A bid could help retain or take control of locations, but the articles provide no terms or indication that a purchase is final. Wendy’s emerges as stalking horse bidder for franchisee assets
• Negative Sentiment: Wendy’s reportedly rejected a $1.4 billion offer from Nelson Peltz and adopted a “poison pill” as it resists a takeover. The move may add uncertainty around the company’s strategic direction and any potential offer premium. Wendy’s rejects offer and fights takeover

About Wendy’s

The Wendy’s Company operates and franchises quick-service restaurants under the Wendy’s name. Founded by Dave Thomas in Columbus, Ohio, in 1969, the chain is known for hamburgers made with fresh, never-frozen beef in the United States, along with chicken sandwiches, nuggets, fries, salads and its signature Frosty dessert. Wendy’s restaurants also offer breakfast items and a range of beverages. The company serves customers in the United States and international markets through a mix of company-operated and franchised locations.