UBS Group Raises Wendy’s (NASDAQ:WEN) Price Target to $21.00

Wendy’s (NASDAQ:WEN) had its price target boosted by UBS Group from $20.00 to $21.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Other analysts also recently issued reports about the stock. Stephens reiterated an equal weight rating and issued a $20.00 price objective on shares of Wendy’s in a research report on Thursday. Wedbush upped their target price on Wendy’s from $20.00 to $21.00 and gave the company a neutral rating in a report on Friday. JPMorgan Chase & Co. cut shares of Wendy’s from an overweight rating to a neutral rating and reduced their target price for the company from $22.00 to $19.00 in a research note on Wednesday, February 21st. Piper Sandler upped their price objective on shares of Wendy’s from $21.00 to $23.00 and gave the stock an overweight rating in a report on Friday. Finally, Gordon Haskett cut shares of Wendy’s from a buy rating to a hold rating and set a $21.00 target price for the company. in a research note on Tuesday, January 16th. Fourteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wendy’s has an average rating of Hold and an average target price of $22.60.

Wendy’s Stock Performance

NASDAQ WEN opened at $19.94 on Friday. The company has a market capitalization of $4.09 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 2.01 and a beta of 0.78. The business’s 50-day moving average price is $18.80 and its 200 day moving average price is $19.05. Wendy’s has a twelve month low of $17.64 and a twelve month high of $23.90. The company has a current ratio of 2.04, a quick ratio of 2.18 and a debt-to-equity ratio of 11.21.

Wendy’s (NASDAQ:WEN) last announced its earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $534.80 million for the quarter, compared to analyst estimates of $540.84 million. Wendy’s had a return on equity of 62.68% and a net margin of 9.44%. 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 company earned $0.21 earnings per share. On average, research analysts predict that Wendy’s will post 0.99 earnings per share for the current year.

Wendy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, June 3rd. Wendy’s’s dividend payout ratio (DPR) is currently 101.01%.

Insiders Place Their Bets

In other news, Director Kenneth W. Gilbert sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $18.07, for a total transaction of $81,315.00. Following the transaction, the director now directly owns 31,304 shares in the company, valued at $565,663.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Wendy’s

Large investors have recently bought and sold shares of the business. Highlander Capital Management LLC raised its position in shares of Wendy’s by 250.0% during the fourth quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 1,000 shares during the period. Signaturefd LLC raised its stake in shares of Wendy’s by 112.0% during the 3rd quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 763 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in Wendy’s by 378.0% in the first quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 1,240 shares during the last quarter. Spire Wealth Management lifted its stake in Wendy’s by 203.2% in the 3rd quarter. Spire Wealth Management now owns 1,516 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 1,016 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Wendy’s in the fourth quarter valued at approximately $34,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

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.