Wendy’s (NASDAQ:WEN) Price Target Cut to $21.00 by Analysts at Truist Financial

Wendy’s (NASDAQ:WEN) had its target price trimmed by Truist Financial from $22.00 to $21.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

A number of other analysts have also weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Wendy’s in a research report on Thursday, June 13th. They issued a sell rating and a $16.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Wendy’s from $19.00 to $20.00 and gave the stock a neutral rating in a research report on Monday, June 3rd. Stephens reissued an equal weight rating and issued a $20.00 price objective on shares of Wendy’s in a research report on Tuesday. TD Cowen reissued a hold rating and issued a $19.00 price objective on shares of Wendy’s in a research report on Thursday, June 13th. Finally, Wedbush increased their price objective on shares of Wendy’s from $20.00 to $21.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $21.74.

Wendy’s Stock Up 5.7 %

Shares of NASDAQ WEN opened at $16.77 on Tuesday. The firm’s 50-day moving average price is $17.32 and its 200-day moving average price is $18.38. The company has a current ratio of 2.04, a quick ratio of 2.02 and a debt-to-equity ratio of 11.21. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.59 and a beta of 0.76. Wendy’s has a 12-month low of $15.61 and a 12-month high of $22.42.

Wendy’s (NASDAQ:WEN) last announced its earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The firm 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. On average, equities research analysts anticipate that Wendy’s will post 1 EPS for the current fiscal year.

Wendy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.96%. Wendy’s’s dividend payout ratio is presently 101.01%.

Insider Activity

In related news, CMO Juan Carlos Loredo sold 44,806 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $19.50, for a total transaction of $873,717.00. Following the completion of the sale, the chief marketing officer now owns 27,586 shares of the company’s stock, valued at $537,927. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Wendy’s

Hedge funds and other institutional investors have recently bought and sold shares of the company. Highlander Capital Management LLC lifted its position in Wendy’s by 250.0% during the fourth quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock valued at $27,000 after acquiring an additional 1,000 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Wendy’s by 378.0% in the first quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock worth $30,000 after buying an additional 1,240 shares during the last quarter. Quarry LP purchased a new position in shares of Wendy’s in the fourth quarter worth $34,000. Bessemer Group Inc. raised its holdings in shares of Wendy’s by 483.2% in the first quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock worth $35,000 after buying an additional 1,551 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Wendy’s by 145.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,116 shares of the restaurant operator’s stock worth $41,000 after buying an additional 1,255 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Wendy’s Company Profile

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.