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

20 Oct 2024, 05:47 by Tristan Rich · The Markets Daily

Wendy’s (NASDAQ:WEN – Free Report) had its price objective hoisted 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 equities analysts have also recently weighed in on WEN. JPMorgan Chase & Co. lifted their price target on Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. BMO Capital Markets lowered their price objective on shares of Wendy’s from $22.00 to $19.00 and set a “market perform” rating on the stock in a research report on Friday, August 2nd. Stifel Nicolaus reduced their target price on Wendy’s from $20.00 to $19.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Truist Financial lowered their price target on Wendy’s from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Stephens restated an “equal weight” rating and set a $19.00 price target on shares of Wendy’s in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wendy’s currently has a consensus rating of “Hold” and a consensus price target of $20.22.

View Our Latest Research Report on WEN

Wendy’s Trading Up 0.1 %

Shares of WEN stock opened at $19.70 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 2.17 and a debt-to-equity ratio of 12.01. The stock has a 50-day simple moving average of $17.49 and a 200 day simple moving average of $17.64. Wendy’s has a fifty-two week low of $15.61 and a fifty-two week high of $20.65. The stock has a market capitalization of $4.04 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.32 and a beta of 0.80.

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

Wendy’s Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 5.08%. Wendy’s’s dividend payout ratio is presently 101.01%.

Insider Activity

In other news, Director Matthew H. Peltz sold 1,000,000 shares of Wendy’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 transaction of $17,180,000.00. Following the sale, the director now owns 14,943,466 shares of the company’s stock, valued at approximately $256,728,745.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.10% of the stock is owned by company insiders.

Institutional Trading of Wendy’s

Several institutional investors have recently bought and sold shares of WEN. CWM LLC boosted its stake in shares of Wendy’s by 15.6% in the 1st quarter. CWM LLC now owns 11,993 shares of the restaurant operator’s stock valued at $226,000 after purchasing an additional 1,621 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Wendy’s during the first quarter worth approximately $44,000. Fort Pitt Capital Group LLC raised its stake in shares of Wendy’s by 15.5% in the first quarter. Fort Pitt Capital Group LLC now owns 199,981 shares of the restaurant operator’s stock valued at $3,768,000 after acquiring an additional 26,889 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Wendy’s by 44.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 4,108 shares of the restaurant operator’s stock worth $77,000 after acquiring an additional 1,265 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Wendy’s by 2.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,344,118 shares of the restaurant operator’s stock worth $100,683,000 after acquiring an additional 111,626 shares during the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wendy’s Company Profile

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