Wendy’s (NASDAQ:WEN) PT Raised to $20.00

Wendy’s (NASDAQ:WEN) had its price target upped by Wedbush from $19.00 to $20.00 in a research note issued to investors on Friday, Benzinga reports. Wedbush currently has a neutral rating on the restaurant operator’s stock. Wedbush also issued estimates for Wendy’s’ Q2 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.33 EPS and Q4 2025 earnings at $0.28 EPS.

A number of other equities analysts have also issued reports on WEN. Royal Bank of Canada reduced their price target on shares of Wendy’s from $22.00 to $20.00 and set a sector perform rating for the company in a research report on Tuesday, February 20th. Stephens began coverage on shares of Wendy’s in a research report on Friday, April 12th. They set an equal weight rating and a $20.00 price target for the company. JPMorgan Chase & Co. lowered shares of Wendy’s from an overweight rating to a neutral rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, February 21st. BMO Capital Markets reduced their price target on shares of Wendy’s from $22.00 to $20.00 and set a market perform rating for the company in a research report on Friday, February 16th. Finally, TD Cowen reissued a hold rating and set a $19.00 price target on shares of Wendy’s in a research report on Wednesday, April 10th. Thirteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $22.53.

Wendy’s Stock Down 0.3 %

WEN stock opened at $20.07 on Friday. The firm has a 50 day moving average of $18.65 and a 200 day moving average of $19.02. The stock has a market capitalization of $4.12 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. The company has a quick ratio of 2.18, a current ratio of 2.19 and a debt-to-equity ratio of 10.66. Wendy’s has a 52 week low of $17.64 and a 52 week high of $23.90.

Wendy’s (NASDAQ:WEN) last released its earnings results on Thursday, February 15th. The restaurant operator reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company had revenue of $540.65 million during the quarter, compared to analyst estimates of $546.47 million. Wendy’s had a return on equity of 56.24% and a net margin of 9.37%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. Sell-side analysts forecast that Wendy’s will post 0.99 earnings per share for the current year.

Wendy’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.00 annualized dividend and a yield of 4.98%. Wendy’s’s dividend payout ratio (DPR) is presently 102.04%.

Insiders Place Their Bets

In other Wendy’s news, Director Kenneth W. Gilbert sold 4,500 shares of Wendy’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $18.07, for a total transaction of $81,315.00. Following the sale, the director now owns 31,304 shares of the company’s stock, valued at approximately $565,663.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 17.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wendy’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in WEN. Highlander Capital Management LLC boosted its position in shares of Wendy’s by 250.0% during the 4th 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. Signaturefd LLC boosted its position in shares of Wendy’s by 112.0% during the 3rd quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 763 shares during the last quarter. Spire Wealth Management boosted its position in shares of Wendy’s by 203.2% during the 3rd quarter. Spire Wealth Management now owns 1,516 shares of the restaurant operator’s stock valued at $31,000 after acquiring an additional 1,016 shares during the last quarter. Quarry LP acquired a new position in shares of Wendy’s during the 4th quarter valued at about $34,000. Finally, Quantbot Technologies LP acquired a new position in shares of Wendy’s during the 3rd quarter valued at about $42,000. Institutional investors and hedge funds 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.