Trading Report: Today, Goldman Sachs Group Inc. lowers the Stock rating of Wendy’s Co. (WEN)

Today, Goldman Sachs Group Inc. lowers the Stock rating of Wendy’s Co. (WEN)

Wendy’s Co. (NASDAQ:WEN) was downgraded by research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, The Fly reports.

Other equities analysts have also recently issued reports about the stock. RBC Capital Markets cut shares of Wendy’s from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $12.00 to $11.00 in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $11.50 price objective on shares of Wendy’s in a research report on Thursday, November 10th. Argus raised shares of Wendy’s from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Friday. Vetr cut shares of Wendy’s from a “strong-buy” rating to a “buy” rating and set a $11.21 price objective for the company. in a research report on Monday, August 15th. Finally, Royal Bank Of Canada cut shares of Wendy’s from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $12.00 to $11.00 in a research report on Tuesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.05.

Wendy’s (NASDAQ:WEN) traded down 0.38% during midday trading on Monday, hitting $12.94. 4,146,203 shares of the stock traded hands. Wendy’s has a 12-month low of $8.89 and a 12-month high of $13.16. The stock has a market capitalization of $3.33 billion, a PE ratio of 18.81 and a beta of 0.79. The firm’s 50 day moving average is $11.32 and its 200-day moving average is $10.41.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings data on Wednesday, November 9th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. Wendy’s had a net margin of 11.74% and a return on equity of 16.62%. The firm earned $364 million during the quarter, compared to analysts’ expectations of $350.35 million. During the same period in the previous year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. On average, analysts anticipate that Wendy’s will post $0.41 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, November 29th. This is an increase from Wendy’s’s previous quarterly dividend of $0.06. Wendy’s’s payout ratio is 35.29%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Seven Eight Capital LLC bought a new position in Wendy’s during the second quarter worth approximately $102,000. Stephens Inc. AR increased its position in Wendy’s by 8.9% in the second quarter. Stephens Inc. AR now owns 12,525 shares of the company’s stock worth $120,000 after buying an additional 1,025 shares during the period. Laurion Capital Management LP bought a new position in Wendy’s during the third quarter worth approximately $122,000. LS Investment Advisors LLC increased its position in Wendy’s by 67.1% in the second quarter. LS Investment Advisors LLC now owns 13,324 shares of the company’s stock worth $128,000 after buying an additional 5,350 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in Wendy’s by 31.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,805 shares of the company’s stock worth $133,000 after buying an additional 3,321 shares during the period. 84.91% of the stock is owned by institutional investors and hedge funds.

Wendy’s Company Profile

The Wendy’s Company is the parent company of its 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 the restaurant company specializing in the hamburger sandwich segment.

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