Stephens Trims Wendy’s (NASDAQ:WEN) Target Price to $19.00

Wendy’s (NASDAQ:WEN) had its target price decreased by Stephens from $20.00 to $19.00 in a research note released on Friday, Benzinga reports. Stephens currently has an equal weight rating on the restaurant operator’s stock.

A number of other brokerages also recently issued reports on WEN. JPMorgan Chase & Co. lifted their price target on Wendy’s from $19.00 to $20.00 and gave the company a neutral rating in a report on Monday, June 3rd. UBS Group increased their price target on shares of Wendy’s from $20.00 to $21.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Morgan Stanley decreased their target price on shares of Wendy’s from $20.00 to $19.00 and set an equal weight rating for the company in a research report on Tuesday, July 16th. Piper Sandler lifted their price target on shares of Wendy’s from $21.00 to $23.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Finally, Wedbush reaffirmed a neutral rating and set a $19.50 price target on shares of Wendy’s in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $20.28.

Wendy’s Stock Performance

WEN stock opened at $16.70 on Friday. The business’s fifty day simple moving average is $16.84 and its two-hundred day simple moving average is $18.10. The company has a quick ratio of 2.02, a current ratio of 2.17 and a debt-to-equity ratio of 12.01. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.88 and a beta of 0.76. Wendy’s has a twelve month low of $15.61 and a twelve month high of $22.42.

Wendy’s (NASDAQ:WEN) last issued its earnings results on Thursday, August 1st. The restaurant operator reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. The company had revenue of $570.73 million during the quarter, compared to the consensus estimate of $577.15 million. During the same quarter in the prior year, the company earned $0.28 earnings per share. Wendy’s’s revenue was up 1.6% on a year-over-year basis. Analysts predict that Wendy’s will post 1 earnings per share for the current year.

Wendy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date is Tuesday, September 3rd. Wendy’s’s dividend payout ratio (DPR) is presently 101.01%.

Insider Activity

In related news, CMO Juan Carlos Loredo sold 44,806 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $19.50, for a total value of $873,717.00. Following the transaction, the chief marketing officer now directly owns 27,586 shares of the company’s stock, valued at approximately $537,927. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Wendy’s

A number of large investors have recently modified their holdings of WEN. SG Americas Securities LLC boosted its position in shares of Wendy’s by 213.6% during the 4th quarter. SG Americas Securities LLC now owns 16,531 shares of the restaurant operator’s stock valued at $322,000 after acquiring an additional 11,260 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Wendy’s by 58.0% in the 4th quarter. Fifth Third Bancorp now owns 2,352 shares of the restaurant operator’s stock valued at $46,000 after buying an additional 863 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Wendy’s by 1,807.8% during the 4th quarter. International Assets Investment Management LLC now owns 48,057 shares of the restaurant operator’s stock worth $936,000 after buying an additional 45,538 shares during the last quarter. Arkadios Wealth Advisors raised its position in shares of Wendy’s by 4.7% during the 4th quarter. Arkadios Wealth Advisors now owns 20,320 shares of the restaurant operator’s stock valued at $396,000 after buying an additional 915 shares during the period. Finally, Highlander Capital Management LLC lifted its holdings in Wendy’s by 250.0% in the fourth quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock valued at $27,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other 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.