Wendy’s (NASDAQ:WEN) Given New $22.00 Price Target at BMO Capital Markets

Wendy’s (NASDAQ:WEN) had its target price increased by BMO Capital Markets from $20.00 to $22.00 in a report published on Friday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the restaurant operator’s stock.

Other research analysts have also issued research reports about the stock. Stephens restated an equal weight rating and issued a $20.00 price target on shares of Wendy’s in a report on Thursday. Gordon Haskett cut shares of Wendy’s from a buy rating to a hold rating and set a $21.00 price target for the company. in a research report on Tuesday, January 16th. Royal Bank of Canada cut their price objective on Wendy’s from $22.00 to $20.00 and set a sector perform rating on the stock in a research report on Tuesday, February 20th. JPMorgan Chase & Co. lowered Wendy’s from an overweight rating to a neutral rating and lowered their target price for the company from $22.00 to $19.00 in a research note on Wednesday, February 21st. Finally, Truist Financial lowered their price objective on shares of Wendy’s from $23.00 to $22.00 and set a buy rating for the company in a research report on Tuesday, February 20th. Fourteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $22.60.

Wendy’s Trading Up 0.1 %

Shares of WEN stock opened at $19.94 on Friday. Wendy’s has a 1-year low of $17.64 and a 1-year high of $23.90. The firm’s 50-day simple moving average is $18.80 and its 200-day simple moving average is $19.05. The firm has a market cap of $4.09 billion, a P/E ratio of 20.14, a PEG ratio of 2.01 and a beta of 0.78. The company has a debt-to-equity ratio of 11.21, a current ratio of 2.04 and a quick ratio of 2.18.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Wendy’s had a return on equity of 62.68% and a net margin of 9.44%. The business had revenue of $534.80 million during the quarter, compared to the consensus estimate of $540.84 million. During the same period in the prior year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts forecast that Wendy’s will post 0.99 EPS for the current year.

Wendy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.25 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.00 annualized dividend and a yield of 5.02%. Wendy’s’s dividend payout ratio is presently 101.01%.

Insiders Place Their Bets

In other Wendy’s news, Director Kenneth W. Gilbert sold 4,500 shares of Wendy’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $18.07, for a total transaction of $81,315.00. Following the sale, the director now owns 31,304 shares of the company’s stock, valued at approximately $565,663.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Wendy’s

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Highlander Capital Management LLC increased its position in shares of Wendy’s by 250.0% during 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. Signaturefd LLC boosted its position 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 valued at $29,000 after purchasing an additional 763 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 purchasing an additional 1,240 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Wendy’s by 203.2% in the 3rd quarter. Spire Wealth Management now owns 1,516 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 1,016 shares in the last quarter. Finally, Quarry LP bought a new stake in Wendy’s during the fourth quarter worth approximately $34,000. 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.