Wedbush Raises Wendy’s (NASDAQ:WEN) Price Target to $21.00

Wendy’s (NASDAQ:WEN) had its target price upped by Wedbush from $20.00 to $21.00 in a report released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the restaurant operator’s stock. Wedbush also issued estimates for Wendy’s’ Q3 2024 earnings at $0.27 EPS, Q4 2024 earnings at $0.22 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.31 EPS, Q4 2025 earnings at $0.25 EPS and FY2025 earnings at $1.11 EPS.

Several other analysts have also recently weighed in on WEN. Gordon Haskett cut Wendy’s from a buy rating to a hold rating and set a $21.00 price objective for the company. in a report on Tuesday, January 16th. Truist Financial reduced their price objective on shares of Wendy’s from $23.00 to $22.00 and set a buy rating on the stock in a research note on Tuesday, February 20th. Stephens reissued an equal weight rating and issued a $20.00 price target on shares of Wendy’s in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut Wendy’s from an overweight rating to a neutral rating and decreased their price objective for the stock from $22.00 to $19.00 in a research note on Wednesday, February 21st. Finally, TD Cowen restated a hold rating and set a $19.00 target price on shares of Wendy’s in a report on Wednesday, April 10th. Fourteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $22.60.

Wendy’s Trading Down 3.9 %

Shares of Wendy’s stock opened at $19.17 on Friday. The stock has a market capitalization of $3.93 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 2.01 and a beta of 0.78. The company has a quick ratio of 2.02, a current ratio of 2.04 and a debt-to-equity ratio of 11.21. Wendy’s has a 12-month low of $17.64 and a 12-month high of $23.90. The company has a 50-day simple moving average of $18.82 and a 200 day simple moving average of $19.05.

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, topping analysts’ consensus estimates of $0.21 by $0.02. Wendy’s had a net margin of 9.44% and a return on equity of 62.68%. The company had revenue of $534.80 million for the quarter, compared to analyst estimates of $540.84 million. During the same period in the prior year, the business earned $0.21 earnings per share. Wendy’s’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts expect that Wendy’s will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.00 annualized dividend and a yield of 5.22%. Wendy’s’s payout ratio is currently 101.01%.

Insider Transactions at Wendy’s

In related news, Director Kenneth W. Gilbert sold 4,500 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was 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 in the company, valued at $565,663.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Wendy’s

Large investors have recently added to or reduced their stakes in the company. Highlander Capital Management LLC raised its holdings in shares of 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 purchasing an additional 1,000 shares during the period. Signaturefd LLC raised its stake in Wendy’s by 112.0% in the third quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 763 shares during the period. Salomon & Ludwin LLC lifted its position 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 valued at $30,000 after buying an additional 1,240 shares during the last quarter. Spire Wealth Management boosted its stake 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 worth $31,000 after acquiring an additional 1,016 shares during the period. Finally, Quarry LP acquired a new position in shares of Wendy’s during the 4th quarter worth approximately $34,000. 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.