The Wendy’s Company (NASDAQ:WEN) Receives $21.79 Average Price Target from Brokerages

The Wendy’s Company (NASDAQ:WENGet Free Report) has received a consensus recommendation of “Hold” from the seventeen research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.79.

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein cut shares of Wendy’s from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $24.00 to $20.00 in a research report on Thursday, February 22nd. JPMorgan Chase & Co. boosted their price objective 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. Wedbush increased their price objective on Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. TD Cowen restated a “hold” rating and set a $19.00 target price on shares of Wendy’s in a research report on Thursday, June 13th. Finally, UBS Group raised their price target on Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, May 3rd.

Check Out Our Latest Analysis on Wendy’s

Wendy’s Stock Performance

Shares of NASDAQ:WEN opened at $16.53 on Friday. The company has a debt-to-equity ratio of 11.21, a current ratio of 2.04 and a quick ratio of 2.02. The business’s fifty day moving average price is $18.28 and its two-hundred day moving average price is $18.73. Wendy’s has a fifty-two week low of $16.22 and a fifty-two week high of $22.59. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.67 and a beta of 0.77.

Wendy’s (NASDAQ:WENGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The firm had revenue of $534.80 million for the quarter, compared to analyst estimates of $540.84 million. Wendy’s had a net margin of 9.44% and a return on equity of 62.68%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. As a group, analysts predict that Wendy’s will post 1 EPS for the current fiscal year.

Wendy’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.00 annualized dividend and a yield of 6.05%. Wendy’s’s dividend payout ratio (DPR) is presently 101.01%.

Insider Activity at Wendy’s

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 completion of the sale, the chief marketing officer now directly owns 27,586 shares in the company, valued at approximately $537,927. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Wendy’s

Several institutional investors and hedge funds have recently made changes to their positions in the company. Highlander Capital Management LLC boosted its holdings in 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. Salomon & Ludwin LLC grew its position in Wendy’s by 378.0% during the first quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock worth $30,000 after buying an additional 1,240 shares in the last quarter. Quarry LP bought a new position in Wendy’s during the 4th quarter worth $34,000. Bessemer Group Inc. raised its holdings in Wendy’s by 483.2% in the 1st quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock valued at $35,000 after acquiring an additional 1,551 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Wendy’s by 145.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,116 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 1,255 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

About Wendy’s

(Get Free Report

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.

Further Reading

Analyst Recommendations for Wendy's (NASDAQ:WEN)

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