Wendy’s (NASDAQ:WEN) Research Coverage Started at The Goldman Sachs Group

Posted by Defense World Staff on Jun 13th, 2024

Equities research analysts at The Goldman Sachs Group started coverage on shares of Wendy’s (NASDAQ:WEN – Get Free Report) in a research note issued to investors on Thursday, Briefing.com reports. The brokerage set a “sell” rating and a $16.00 price target on the restaurant operator’s stock. The Goldman Sachs Group’s price objective suggests a potential downside of 3.96% from the company’s previous close.

A number of other research analysts have also issued reports on the company. BMO Capital Markets increased their target price on Wendy’s from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. Truist Financial decreased their price objective on Wendy’s from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. JPMorgan Chase & Co. raised their price objective on Wendy’s from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. Sanford C. Bernstein lowered Wendy’s from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $24.00 to $20.00 in a report on Thursday, February 22nd. Finally, Piper Sandler raised their price objective on Wendy’s from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.79.

Read Our Latest Research Report on WEN

Wendy’s Price Performance

Shares of NASDAQ WEN opened at $16.66 on Thursday. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 1.65 and a beta of 0.77. Wendy’s has a 12 month low of $16.22 and a 12 month high of $22.59. The firm’s 50 day simple moving average is $18.50 and its 200-day simple moving average is $18.83. The company has a debt-to-equity ratio of 11.21, a current ratio of 2.04 and a quick ratio of 2.02.

Wendy’s (NASDAQ:WEN – Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $534.80 million for the quarter, compared to analysts’ expectations of $540.84 million. Wendy’s had a net margin of 9.44% and a return on equity of 62.68%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. Analysts expect that Wendy’s will post 1 EPS for the current year.

Insiders Place Their Bets

In other Wendy’s news, CMO Juan Carlos Loredo sold 44,806 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $19.50, for a total transaction of $873,717.00. Following the sale, the chief marketing officer now directly owns 27,586 shares in the company, valued at $537,927. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.10% of the company’s stock.

Institutional Trading of Wendy’s

Institutional investors and hedge funds have recently bought and sold shares of the business. Trian Fund Management L.P. grew its position in shares of Wendy’s by 60.9% during the third quarter. Trian Fund Management L.P. now owns 33,350,743 shares of the restaurant operator’s stock worth $680,689,000 after buying an additional 12,618,115 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Wendy’s by 6.4% during the first quarter. Vanguard Group Inc. now owns 21,097,095 shares of the restaurant operator’s stock worth $397,469,000 after buying an additional 1,273,140 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Wendy’s by 2.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,344,118 shares of the restaurant operator’s stock worth $100,683,000 after buying an additional 111,626 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Wendy’s by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,706,052 shares of the restaurant operator’s stock worth $91,674,000 after buying an additional 31,341 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Wendy’s by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,141,024 shares of the restaurant operator’s stock worth $80,668,000 after buying an additional 63,927 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Wendy’s Company Profile

(Get Free Report)

The Wendy’s Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy’s U.S., Wendy’s International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.

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