Wendy’s (NASDAQ:WEN) Given New $17.00 Price Target at Truist Financial

Wendy’s (NASDAQ:WEN) had its price target decreased by Truist Financial from $19.00 to $17.00 in a research report report published on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the restaurant operator’s stock.

A number of other research analysts have also issued reports on WEN. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 target price (down from $20.00) on shares of Wendy’s in a report on Wednesday, February 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price objective on shares of Wendy’s in a research note on Tuesday, March 4th. Wedbush reaffirmed a “neutral” rating and issued a $16.00 target price on shares of Wendy’s in a research note on Friday, March 7th. Citigroup boosted their price target on Wendy’s from $15.50 to $16.50 and gave the company a “neutral” rating in a report on Friday, March 7th. Finally, Argus raised Wendy’s to a “strong-buy” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.69.

Wendy’s Trading Down 0.2 %

Shares of WEN opened at $12.57 on Tuesday. The firm’s 50-day moving average is $14.44 and its two-hundred day moving average is $16.20. Wendy’s has a twelve month low of $12.05 and a twelve month high of $20.65. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48. The firm has a market capitalization of $2.47 billion, a P/E ratio of 13.23, a PEG ratio of 2.00 and a beta of 0.61.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $574.27 million during the quarter, compared to the consensus estimate of $564.17 million. Wendy’s had a return on equity of 75.56% and a net margin of 8.65%. On average, research analysts predict that Wendy’s will post 0.99 earnings per share for the current fiscal year.

Wendy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.96%. The ex-dividend date of this dividend was Monday, March 3rd. Wendy’s’s dividend payout ratio is 105.26%.

Institutional Trading of Wendy’s

Large investors have recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Wendy’s by 670.3% in the fourth quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 1,220 shares during the period. SBI Securities Co. Ltd. bought a new position in Wendy’s in the 4th quarter worth approximately $30,000. Colonial Trust Co SC acquired a new position in shares of Wendy’s during the fourth quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its position in shares of Wendy’s by 1,111.9% in the first quarter. Farther Finance Advisors LLC now owns 2,133 shares of the restaurant operator’s stock valued at $31,000 after acquiring an additional 1,957 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Wendy’s by 168.1% in the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 1,400 shares during the period. 85.96% of the stock is owned by institutional investors.

About Wendy’s

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.