Truist Financial Trims Wendy’s (NASDAQ:WEN) Target Price to $21.00

Wendy’s (NASDAQ:WEN) had its price target reduced by Truist Financial from $22.00 to $21.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Other equities research analysts have also issued reports about the stock. Citigroup boosted their target price on shares of Wendy’s from $20.00 to $21.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Wedbush boosted their target price on shares of Wendy’s from $20.00 to $21.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Stephens reissued an equal weight rating and set a $20.00 target price on shares of Wendy’s in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Wendy’s from $19.00 to $20.00 and gave the stock a neutral rating in a research report on Monday, June 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of Wendy’s in a research report on Thursday, June 13th. They issued a sell rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Wendy’s currently has an average rating of Hold and an average target price of $21.74.

Wendy’s Trading Down 0.4 %

Shares of Wendy’s stock opened at $16.70 on Tuesday. The firm has a market capitalization of $3.43 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.59 and a beta of 0.76. 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 firm’s 50 day moving average is $17.25 and its 200 day moving average is $18.35. Wendy’s has a 1 year low of $15.61 and a 1 year high of $22.42.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the firm posted $0.21 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Equities research analysts forecast that Wendy’s will post 1 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.99%. Wendy’s’s payout ratio is presently 101.01%.

Insiders Place Their Bets

In other Wendy’s news, CMO Juan Carlos Loredo sold 44,806 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $19.50, for a total transaction of $873,717.00. Following the transaction, the chief marketing officer now owns 27,586 shares in the company, valued at $537,927. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WEN. Highlander Capital Management LLC grew its stake 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 worth $27,000 after acquiring an additional 1,000 shares in the last quarter. Salomon & Ludwin LLC grew its stake in shares of Wendy’s by 378.0% in the 1st quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 1,240 shares in the last quarter. Quarry LP bought a new stake in shares of Wendy’s in the 4th quarter worth $34,000. Bessemer Group Inc. grew its stake in shares of Wendy’s by 483.2% in the 1st quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock worth $35,000 after acquiring an additional 1,551 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Wendy’s by 145.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,116 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 1,255 shares in the last quarter. Institutional investors and hedge funds 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.