Truist Financial Cuts Wendy’s (NASDAQ:WEN) Price Target to $16.00

by · The Cerbat Gem

Wendy’s (NASDAQ:WEN – Free Report) had its target price lowered by Truist Financial from $17.00 to $16.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

Several other equities research analysts also recently commented on WEN. Stephens reissued an “equal weight” rating and set a $14.00 target price on shares of Wendy’s in a research report on Friday, May 2nd. TD Securities reduced their price objective on Wendy’s from $14.00 to $13.00 and set a “hold” rating for the company in a report on Friday, May 2nd. The Goldman Sachs Group lowered their price target on shares of Wendy’s from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley lowered their target price on shares of Wendy’s from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Monday. Finally, UBS Group dropped their target price on Wendy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.34.

View Our Latest Stock Report on Wendy’s

Wendy’s Stock Down 0.9 %

Wendy’s stock opened at $11.77 on Monday. The company has a market capitalization of $2.31 billion, a PE ratio of 12.39, a PEG ratio of 2.00 and a beta of 0.40. Wendy’s has a 12-month low of $11.70 and a 12-month high of $20.60. The firm’s fifty day moving average is $13.83 and its 200 day moving average is $15.74. The company has a quick ratio of 1.83, a current ratio of 1.85 and a debt-to-equity ratio of 12.48.

Wendy’s (NASDAQ:WEN – Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. The firm had revenue of $523.47 million for the quarter, compared to analyst estimates of $530.11 million. Wendy’s had a net margin of 8.65% and a return on equity of 75.56%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. As a group, sell-side analysts predict that Wendy’s will post 0.99 EPS for the current fiscal year.

Wendy’s Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.76%. Wendy’s’s dividend payout ratio is currently 59.57%.

Insider Buying and Selling

In related news, insider Abigail E. Pringle sold 136,819 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $12.81, for a total value of $1,752,651.39. Following the sale, the insider now directly owns 203,005 shares of the company’s stock, valued at $2,600,494.05. This represents a 40.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.00% of the stock is currently owned by insiders.

Institutional Trading of Wendy’s

Several institutional investors have recently bought and sold shares of the company. LPL Financial LLC boosted its stake in Wendy’s by 28.9% during the 1st quarter. LPL Financial LLC now owns 149,925 shares of the restaurant operator’s stock valued at $2,193,000 after purchasing an additional 33,622 shares during the last quarter. HB Wealth Management LLC lifted its holdings in Wendy’s by 63.3% in the first quarter. HB Wealth Management LLC now owns 16,922 shares of the restaurant operator’s stock valued at $248,000 after acquiring an additional 6,557 shares during the period. Towerview LLC increased its holdings in Wendy’s by 20.8% during the first quarter. Towerview LLC now owns 14,500 shares of the restaurant operator’s stock valued at $212,000 after buying an additional 2,500 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Wendy’s by 36.3% during the 1st quarter. Cetera Investment Advisers now owns 56,567 shares of the restaurant operator’s stock valued at $828,000 after buying an additional 15,060 shares in the last quarter. Finally, Oak Thistle LLC boosted its stake in shares of Wendy’s by 114.9% in the first quarter. Oak Thistle LLC now owns 68,073 shares of the restaurant operator’s stock worth $996,000 after acquiring an additional 36,399 shares during the period. 85.96% of the stock is owned by hedge funds and other institutional investors.

About Wendy’s

(Get Free Report)

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy’s U.S., Wendy’s International, and Global Real Estate and Development. The Wendy’s U.S. segment includes the operation and franchising of Wendy’s restaurants in the U.S.

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