Wendy’s (NASDAQ:WEN) Trading 4.9% Higher – Here’s Why

The Wendy’s Company (NASDAQ:WEN) rose 4.9% during trading on Monday . The stock traded as high as $15.90 and last traded at $15.96. Approximately 1,649,491 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 5,121,864 shares. The stock had previously closed at $15.21.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial dropped their target price on Wendy’s from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, February 14th. The Goldman Sachs Group dropped their price objective on Wendy’s from $17.00 to $15.00 and set a “sell” rating for the company in a report on Thursday, February 6th. Morgan Stanley reaffirmed an “underweight” rating and issued a $14.00 target price (down previously from $22.00) on shares of Wendy’s in a research note on Tuesday, January 21st. Stifel Nicolaus dropped their price target on shares of Wendy’s from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Finally, Barclays cut their price objective on shares of Wendy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wendy’s currently has a consensus rating of “Hold” and a consensus price target of $18.42.

Wendy’s Trading Down 2.6 %

The business has a 50 day simple moving average of $15.27 and a 200-day simple moving average of $17.03. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.00 and a beta of 0.77. The company has a debt-to-equity ratio of 12.48, a current ratio of 1.85 and a quick ratio of 1.83.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings data on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $574.27 million during the quarter, compared to analyst estimates of $564.17 million. Wendy’s had a return on equity of 75.56% and a net margin of 8.65%. As a group, equities analysts expect that The Wendy’s Company will post 0.99 earnings per share for the current year.

Wendy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.45%. Wendy’s’s payout ratio is 105.26%.

Hedge Funds Weigh In On Wendy’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC lifted its holdings in shares of Wendy’s by 0.6% in the third quarter. MetLife Investment Management LLC now owns 92,132 shares of the restaurant operator’s stock valued at $1,614,000 after purchasing an additional 590 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Wendy’s by 2.9% in the 4th quarter. Pacer Advisors Inc. now owns 25,529 shares of the restaurant operator’s stock valued at $416,000 after acquiring an additional 717 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Wendy’s by 1.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 57,400 shares of the restaurant operator’s stock valued at $979,000 after acquiring an additional 797 shares in the last quarter. Natixis Advisors LLC boosted its position in Wendy’s by 6.1% during the 4th quarter. Natixis Advisors LLC now owns 15,634 shares of the restaurant operator’s stock worth $255,000 after acquiring an additional 897 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its stake in shares of Wendy’s by 46.4% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 3,107 shares of the restaurant operator’s stock worth $51,000 after acquiring an additional 985 shares in the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

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.