Wendy’s Co. (NASDAQ:WEN) was downgraded by analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research note issued on Monday, The Fly reports.
WEN has been the topic of several other research reports. Vetr upgraded shares of Wendy’s from a “sell” rating to a “buy” rating and set a $12.62 target price on the stock in a research note on Wednesday, November 16th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $11.50 target price on shares of Wendy’s in a research note on Thursday, November 10th. Stifel Nicolaus downgraded shares of Wendy’s from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $12.00 to $11.00 in a research note on Tuesday, August 2nd. RBC Capital Markets reiterated a “sector perform” rating and issued a $11.00 target price on shares of Wendy’s in a research note on Friday, November 11th. Finally, Royal Bank Of Canada downgraded shares of Wendy’s from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $12.00 to $11.00 in a research note on Tuesday, August 2nd. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Wendy’s has a consensus rating of “Buy” and a consensus price target of $12.05.
Shares of 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. The firm has a market capitalization of $3.33 billion, a PE ratio of 18.81 and a beta of 0.79. Wendy’s has a 52 week low of $8.89 and a 52 week high of $13.16. The company’s 50-day moving average is $11.32 and its 200 day moving average is $10.41.
Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $364 million for the quarter, compared to analysts’ expectations of $350.35 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. Wendy’s’s quarterly revenue was down 21.7% on a year-over-year basis. Analysts anticipate that Wendy’s will post $0.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This is a boost from Wendy’s’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.00%. Wendy’s’s dividend payout ratio is 35.29%.
Several hedge funds have recently made changes to their positions in WEN. Seven Eight Capital LLC purchased a new stake in shares of Wendy’s during the second quarter worth about $102,000. Laurion Capital Management LP purchased a new stake in shares of Wendy’s during the third quarter worth about $122,000. Stephens Inc. AR boosted its stake in shares of 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. LS Investment Advisors LLC boosted its stake in shares of 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, World Asset Management Inc boosted its stake in shares of Wendy’s by 28.3% in the third quarter. World Asset Management Inc now owns 13,520 shares of the company’s stock worth $146,000 after buying an additional 2,984 shares during the period. 84.91% of the stock is owned by hedge funds and other institutional investors.
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.