Wendy’s (NASDAQ:WEN) Given New $16.00 Price Target at Barclays

Wendy’s (NASDAQ:WEN) had its price objective reduced by Barclays from $17.00 to $16.00 in a report released on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the restaurant operator’s stock.

WEN has been the subject of several other research reports. Truist Financial raised their target price on shares of Wendy’s from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets raised their target price on shares of Wendy’s from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. The Goldman Sachs Group lowered their target price on shares of Wendy’s from $17.00 to $15.00 and set a “sell” rating for the company in a report on Thursday, February 6th. Stephens restated an “equal weight” rating and issued a $15.00 target price on shares of Wendy’s in a report on Thursday. Finally, Stifel Nicolaus lowered their target price on shares of Wendy’s from $18.00 to $17.00 and set a “hold” rating for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wendy’s has an average rating of “Hold” and a consensus price target of $18.93.

Wendy’s Stock Performance

Shares of NASDAQ:WEN opened at $14.30 on Friday. Wendy’s has a 52 week low of $13.72 and a 52 week high of $20.65. The stock has a market capitalization of $2.92 billion, a P/E ratio of 15.05, a PEG ratio of 2.27 and a beta of 0.77. The firm has a fifty day simple moving average of $15.55 and a two-hundred day simple moving average of $17.11. The company has a quick ratio of 2.08, a current ratio of 2.10 and a debt-to-equity ratio of 12.64.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings data on Thursday, February 13th. The restaurant operator reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The business had revenue of $574.27 million during the quarter, compared to analysts’ expectations of $564.17 million. On average, 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, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 6.99%. Wendy’s’s dividend payout ratio is currently 105.26%.

Institutional Investors Weigh In On Wendy’s

Several large investors have recently modified their holdings of WEN. Exchange Traded Concepts LLC grew its position in shares of Wendy’s by 21.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 42,941 shares of the restaurant operator’s stock worth $752,000 after buying an additional 7,685 shares during the last quarter. Creative Planning grew its position in shares of Wendy’s by 3.7% in the 3rd quarter. Creative Planning now owns 203,162 shares of the restaurant operator’s stock worth $3,559,000 after buying an additional 7,180 shares during the last quarter. Probity Advisors Inc. grew its position in shares of Wendy’s by 6.5% in the 3rd quarter. Probity Advisors Inc. now owns 11,689 shares of the restaurant operator’s stock worth $205,000 after buying an additional 715 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Wendy’s in the 3rd quarter worth approximately $212,000. Finally, Claro Advisors LLC purchased a new position in shares of Wendy’s in the 3rd quarter worth approximately $394,000. Institutional investors own 85.96% of the company’s stock.

About Wendy’s

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid’s meals.