Wendy’s (NASDAQ:WEN) PT Raised to $22.00 at JPMorgan Chase & Co.

Wendy’s (NASDAQ:WEN) had its target price raised by JPMorgan Chase & Co. from $20.00 to $22.00 in a research report sent to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the restaurant operator’s stock.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group started coverage on Wendy’s in a report on Thursday, June 13th. They issued a sell rating and a $16.00 price target for the company. BMO Capital Markets decreased their target price on Wendy’s from $22.00 to $19.00 and set a market perform rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wendy’s from $20.00 to $18.00 and set a hold rating on the stock in a research note on Friday, August 2nd. Tigress Financial reaffirmed a buy rating and set a $29.00 price objective on shares of Wendy’s in a report on Wednesday, September 4th. Finally, Morgan Stanley dropped their target price on shares of Wendy’s from $20.00 to $19.00 and set an equal weight rating on the stock in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $20.24.

Wendy’s Price Performance

Shares of WEN opened at $17.87 on Monday. The business’s 50-day moving average is $17.05 and its two-hundred day moving average is $17.70. The company has a market capitalization of $3.67 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.22 and a beta of 0.80. Wendy’s has a fifty-two week low of $15.61 and a fifty-two week high of $20.84. The company has a debt-to-equity ratio of 12.01, a quick ratio of 2.15 and a current ratio of 2.17.

Wendy’s (NASDAQ:WEN) last posted its earnings results on Thursday, August 1st. The restaurant operator reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. The company had revenue of $570.73 million for the quarter, compared to analyst estimates of $577.15 million. During the same period last year, the business earned $0.28 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Research analysts predict that Wendy’s will post 0.98 earnings per share for the current year.

Wendy’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Wendy’s’s dividend payout ratio is currently 101.01%.

Insider Activity at Wendy’s

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $17.18, for a total value of $17,180,000.00. Following the completion of the sale, the director now directly owns 14,943,466 shares of the company’s stock, valued at approximately $256,728,745.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.10% of the company’s stock.

Institutional Trading of Wendy’s

Hedge funds have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wendy’s in the 2nd quarter valued at $27,000. Salomon & Ludwin LLC increased its position 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. Quarry LP purchased a new stake in shares of Wendy’s in the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC acquired a new position in shares of Wendy’s in the 2nd quarter worth approximately $33,000. Finally, Bessemer Group Inc. boosted its position in shares of 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 period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

About Wendy’s

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.