Wendy’s (NASDAQ:WEN) Price Target Cut to $13.00 by Analysts at Barclays

Wendy’s (NASDAQ:WEN) had its price objective decreased by Barclays from $14.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the restaurant operator’s stock.

A number of other analysts have also commented on WEN. Stephens reaffirmed an “equal weight” rating and issued a $14.00 target price on shares of Wendy’s in a research report on Friday. Wedbush reiterated a “neutral” rating and issued a $16.00 target price on shares of Wendy’s in a report on Friday, March 7th. Morgan Stanley decreased their price target on shares of Wendy’s from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Monday. Truist Financial dropped their price objective on shares of Wendy’s from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. raised shares of Wendy’s from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $17.00 to $15.00 in a research report on Monday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.81.

Wendy’s Price Performance

Shares of WEN opened at $12.52 on Monday. The firm has a market cap of $2.46 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 2.00 and a beta of 0.40. Wendy’s has a 52-week low of $12.05 and a 52-week high of $20.60. The company has a debt-to-equity ratio of 12.48, a quick ratio of 1.83 and a current ratio of 1.85. The business’s 50 day moving average price is $13.98 and its two-hundred day moving average price is $15.79.

Wendy’s (NASDAQ:WEN) last released its earnings results on Friday, May 2nd. The restaurant operator reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. The company had revenue of $523.47 million for the quarter, compared to the consensus estimate of $530.11 million. Wendy’s had a net margin of 8.65% and a return on equity of 75.56%. Wendy’s’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. On average, equities analysts anticipate that Wendy’s will post 0.99 EPS for the current year.

Wendy’s Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Monday, June 2nd. Wendy’s’s payout ratio is currently 59.57%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Wendy’s by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,303,279 shares of the restaurant operator’s stock worth $102,743,000 after buying an additional 458,106 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Wendy’s by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,033,560 shares of the restaurant operator’s stock worth $65,747,000 after purchasing an additional 43,805 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Wendy’s by 3.0% in the 4th quarter. Janus Henderson Group PLC now owns 3,133,832 shares of the restaurant operator’s stock valued at $51,081,000 after purchasing an additional 90,380 shares during the period. Bank of New York Mellon Corp grew its position in shares of Wendy’s by 5.9% during the 1st quarter. Bank of New York Mellon Corp now owns 2,577,359 shares of the restaurant operator’s stock valued at $37,707,000 after purchasing an additional 142,500 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Wendy’s by 296.1% in the fourth quarter. Invesco Ltd. now owns 1,882,829 shares of the restaurant operator’s stock worth $30,690,000 after purchasing an additional 1,407,503 shares during the period. Institutional investors own 85.96% of the company’s stock.

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.