Stephens Lowers Wendy’s (NASDAQ:WEN) Price Target to $19.00

Wendy’s (NASDAQ:WEN) had its price target decreased by Stephens from $20.00 to $19.00 in a research report sent to investors on Friday, Benzinga reports. Stephens currently has an equal weight rating on the restaurant operator’s stock.

Other equities analysts have also recently issued research reports about the company. Truist Financial decreased their price target on Wendy’s from $22.00 to $21.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Piper Sandler lifted their price target on shares of Wendy’s from $21.00 to $23.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. Wedbush reissued a neutral rating and set a $19.50 price target on shares of Wendy’s in a research note on Thursday, August 1st. Citigroup raised their price objective on shares of Wendy’s from $20.00 to $21.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Finally, BMO Capital Markets upped their target price on shares of Wendy’s from $20.00 to $22.00 and gave the company a market perform rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Wendy’s currently has a consensus rating of Hold and a consensus price target of $20.28.

Wendy’s Stock Down 1.1 %

Shares of NASDAQ:WEN opened at $16.70 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.17 and a debt-to-equity ratio of 12.01. The firm has a market cap of $3.43 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.88 and a beta of 0.76. Wendy’s has a 12 month low of $15.61 and a 12 month high of $22.42. The company’s 50-day moving average price is $16.84 and its two-hundred day moving average price is $18.10.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings results on Thursday, August 1st. The restaurant operator reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Wendy’s had a net margin of 9.18% and a return on equity of 67.74%. The company had revenue of $570.73 million during the quarter, compared to analyst estimates of $577.15 million. During the same period in the prior year, the business earned $0.28 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, research analysts forecast that Wendy’s will post 1 EPS for the current fiscal year.

Wendy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date is Tuesday, September 3rd. Wendy’s’s dividend payout ratio is presently 101.01%.

Insider Transactions at Wendy’s

In other Wendy’s news, CMO Juan Carlos Loredo sold 44,806 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $19.50, for a total value of $873,717.00. Following the sale, the chief marketing officer now owns 27,586 shares in the company, valued at $537,927. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Wendy’s

Several large investors have recently bought and sold shares of the company. Highlander Capital Management LLC raised its holdings in Wendy’s by 250.0% in the 4th quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock valued at $27,000 after buying an additional 1,000 shares during the last quarter. Salomon & Ludwin LLC raised its stake in shares of Wendy’s by 378.0% during the first quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 1,240 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Wendy’s in the second quarter worth $33,000. Quarry LP acquired a new stake in Wendy’s in the fourth quarter valued at $34,000. Finally, Bessemer Group Inc. raised its position in Wendy’s by 483.2% during the 1st quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock worth $35,000 after purchasing an additional 1,551 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

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.