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

Wendy’s (NASDAQ:WEN) had its price objective increased by Wedbush from $19.00 to $20.00 in a research report sent to investors on Friday morning, 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.

Other analysts also recently issued reports about the company. Gordon Haskett downgraded Wendy’s from a buy rating to a hold rating and set a $21.00 price objective for the company. in a research report on Tuesday, January 16th. Sanford C. Bernstein downgraded Wendy’s from an outperform rating to a market perform rating and dropped their target price for the company from $24.00 to $20.00 in a research report on Thursday, February 22nd. Stephens started coverage on Wendy’s in a research report on Friday, April 12th. They issued an equal weight rating and a $20.00 target price for the company. Barclays downgraded Wendy’s from an overweight rating to an equal weight rating and dropped their target price for the company from $23.00 to $21.00 in a research report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. downgraded Wendy’s from an overweight rating to a neutral rating and dropped their target price for the company from $22.00 to $19.00 in a research report on Wednesday, February 21st. Thirteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $22.53.

Wendy’s Stock Up 1.6 %

Shares of NASDAQ:WEN opened at $20.14 on Friday. The business has a 50-day moving average price of $18.62 and a 200 day moving average price of $19.00. The company has a current ratio of 2.19, a quick ratio of 2.18 and a debt-to-equity ratio of 10.66. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 2.03 and a beta of 0.82. Wendy’s has a 12-month low of $17.64 and a 12-month high of $23.90.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $540.65 million for 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 earnings per share. Sell-side analysts expect that Wendy’s will post 0.99 EPS for the current year.

Wendy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.97%. The ex-dividend date was Thursday, February 29th. Wendy’s’s payout ratio is 102.04%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Wendy’s

Institutional investors have recently added to or reduced their stakes in the business. Highlander Capital Management LLC lifted its stake 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 worth $27,000 after purchasing an additional 1,000 shares during the last quarter. Signaturefd LLC lifted its stake in Wendy’s by 112.0% during the third quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 763 shares during the last quarter. Spire Wealth Management lifted its stake in Wendy’s by 203.2% during the third quarter. Spire Wealth Management now owns 1,516 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 1,016 shares during the last quarter. Quarry LP purchased a new stake in Wendy’s during the fourth quarter worth approximately $34,000. Finally, Quadrant Capital Group LLC increased its position in Wendy’s by 145.8% during 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 period. 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.