Wendy’s (NASDAQ:WEN) Hits New 1-Year Low at $16.65

Shares of The Wendy’s Company (NASDAQ:WENGet Free Report) hit a new 52-week low on Thursday . The company traded as low as $16.65 and last traded at $16.84, with a volume of 146424 shares. The stock had previously closed at $16.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their target price on Wendy’s from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Royal Bank of Canada reduced their price objective on Wendy’s from $22.00 to $20.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 20th. Truist Financial reduced their price objective on Wendy’s from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Wedbush raised their price objective on Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Piper Sandler raised their price objective on Wendy’s from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Fourteen analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.11.

Get Our Latest Research Report on Wendy’s

Wendy’s Stock Performance

The company has a 50-day simple moving average of $18.63 and a two-hundred day simple moving average of $18.89. The company has a quick ratio of 2.02, a current ratio of 2.04 and a debt-to-equity ratio of 11.21. The firm has a market cap of $3.42 billion, a PE ratio of 17.00, a PEG ratio of 1.69 and a beta of 0.77.

Wendy’s (NASDAQ:WENGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $540.84 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts forecast that The Wendy’s Company will post 1 earnings per share for the current year.

Wendy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.00 annualized dividend and a yield of 6.00%. Wendy’s’s dividend payout ratio is currently 101.01%.

Insiders Place Their Bets

In other Wendy’s news, CMO Juan Carlos Loredo sold 44,806 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $19.50, for a total value of $873,717.00. Following the sale, the chief marketing officer now directly owns 27,586 shares in the company, valued at $537,927. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 17.10% of the company’s stock.

Institutional Trading of Wendy’s

Hedge funds have recently made changes to their positions in the company. Highlander Capital Management LLC raised its stake in shares of Wendy’s by 250.0% in the fourth quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock valued at $27,000 after buying an additional 1,000 shares during the period. Spire Wealth Management raised its stake in shares of Wendy’s by 203.2% during 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 period. Salomon & Ludwin LLC raised its stake in shares of Wendy’s by 378.0% during the 1st 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 during the period. Quarry LP bought a new stake in shares of Wendy’s during the 4th quarter valued at $34,000. Finally, Bessemer Group Inc. raised its stake 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 valued at $35,000 after purchasing an additional 1,551 shares during the period. 85.96% of the stock is currently owned by institutional investors.

About Wendy’s

(Get Free Report)

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.

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