Wendy’s (NASDAQ:WEN) Price Target Raised to $22.00 at BMO Capital Markets

Wendy’s (NASDAQ:WEN) had its price target lifted by BMO Capital Markets from $20.00 to $22.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a market perform rating on the restaurant operator’s stock.

Other analysts also recently issued research reports about the company. Piper Sandler upped their price target on Wendy’s from $21.00 to $23.00 and gave the stock an overweight rating in a research note on Friday. JPMorgan Chase & Co. cut Wendy’s from an overweight rating to a neutral rating and cut their price target for the company from $22.00 to $19.00 in a report on Wednesday, February 21st. Stephens reaffirmed an equal weight rating and issued a $20.00 price target on shares of Wendy’s in a report on Thursday, May 2nd. Royal Bank of Canada cut their price target on Wendy’s from $22.00 to $20.00 and set a sector perform rating for the company in a report on Tuesday, February 20th. Finally, Truist Financial dropped their target price on Wendy’s from $23.00 to $22.00 and set a buy rating for the company in a report on Tuesday, February 20th. Fourteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wendy’s presently has an average rating of Hold and a consensus target price of $22.60.

Wendy’s Stock Down 3.9 %

NASDAQ:WEN opened at $19.17 on Friday. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.01 and a beta of 0.78. Wendy’s has a 1-year low of $17.64 and a 1-year high of $23.90. The company has a current ratio of 2.04, a quick ratio of 2.02 and a debt-to-equity ratio of 11.21. The business’s fifty day moving average price is $18.82 and its 200 day moving average price is $19.05.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. Wendy’s had a return on equity of 62.68% and a net margin of 9.44%. The firm had revenue of $534.80 million for the quarter, compared to analyst estimates of $540.84 million. During the same period in the previous year, the firm earned $0.21 earnings per share. Wendy’s’s quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Wendy’s will post 0.99 earnings per share for the current fiscal year.

Wendy’s Announces Dividend

The company 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. This represents a $1.00 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend is Monday, June 3rd. Wendy’s’s dividend payout ratio is 101.01%.

Insider Buying and Selling at Wendy’s

In other news, Director Kenneth W. Gilbert sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $18.07, for a total value of $81,315.00. Following the completion of the transaction, the director now owns 31,304 shares in the company, valued at approximately $565,663.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Wendy’s

Hedge funds and other institutional investors have recently bought and sold shares of the business. Towerview LLC bought a new stake in shares of Wendy’s during the first quarter worth approximately $518,000. Duality Advisers LP acquired a new stake in shares of Wendy’s in the first quarter valued at approximately $706,000. Texas Permanent School Fund Corp raised its position in shares of Wendy’s by 1.2% in the first quarter. Texas Permanent School Fund Corp now owns 144,353 shares of the restaurant operator’s stock valued at $2,720,000 after buying an additional 1,692 shares in the last quarter. Salomon & Ludwin LLC raised 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 in the last quarter. Finally, Capstone Investment Advisors LLC raised its position in Wendy’s by 243.3% during the first quarter. Capstone Investment Advisors LLC now owns 255,069 shares of the restaurant operator’s stock valued at $4,806,000 after purchasing an additional 180,772 shares in the last quarter. 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.