Wendy’s (NASDAQ:WEN) Price Target Raised to $19.00 at TD Cowen

Wendy’s (NASDAQ:WEN) had its target price upped by TD Cowen from $17.00 to $19.00 in a report released on Wednesday morning, Benzinga reports. TD Cowen currently has a hold rating on the restaurant operator’s stock.

A number of other research firms also recently weighed in on WEN. JPMorgan Chase & Co. upped their price target on shares of Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Tigress Financial reiterated a “buy” rating and set a $29.00 price target on shares of Wendy’s in a report on Wednesday, September 4th. Stephens restated an “equal weight” rating and issued a $19.00 price objective on shares of Wendy’s in a report on Tuesday, October 8th. Citigroup raised their price objective on shares of Wendy’s from $18.00 to $18.75 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Finally, Wedbush reissued a “neutral” rating and issued a $19.50 target price on shares of Wendy’s in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.22.

Wendy’s Stock Up 2.4 %

NASDAQ:WEN opened at $19.99 on Wednesday. The business’s fifty day moving average price is $17.39 and its 200 day moving average price is $17.63. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.32 and a beta of 0.80. The company has a current ratio of 2.17, a quick ratio of 2.15 and a debt-to-equity ratio of 12.01. Wendy’s has a 1-year low of $15.61 and a 1-year high of $20.65.

Wendy’s (NASDAQ:WEN) last issued its earnings results on Thursday, August 1st. The restaurant operator reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Wendy’s had a net margin of 9.18% and a return on equity of 67.74%. The business had revenue of $570.73 million during the quarter, compared to analyst estimates of $577.15 million. During the same quarter in the prior year, the company earned $0.28 EPS. Wendy’s’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Wendy’s will post 0.98 earnings per share for the current fiscal year.

Wendy’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend was Tuesday, September 3rd. Wendy’s’s dividend payout ratio (DPR) is presently 101.01%.

Insider Activity at Wendy’s

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $17.18, for a total value of $17,180,000.00. Following the completion of the sale, the director now owns 14,943,466 shares in the company, valued at approximately $256,728,745.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Wendy’s

A number of hedge funds have recently made changes to their positions in WEN. Strategic Investment Solutions Inc. IL bought a new stake in Wendy’s in the second quarter valued at about $27,000. Salomon & Ludwin LLC boosted its holdings in Wendy’s by 378.0% during the first quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 1,240 shares in the last quarter. Quarry LP bought a new stake in shares of Wendy’s in the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC acquired a new position in shares of Wendy’s in the 2nd quarter worth approximately $33,000. Finally, Bessemer Group Inc. lifted its position in shares of Wendy’s by 483.2% during the 1st quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock worth $35,000 after buying an additional 1,551 shares during the period. Institutional investors and hedge funds 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.