Wendy’s (NASDAQ:WEN) Given New $21.00 Price Target at Citigroup

Wendy’s (NASDAQ:WEN) had its price target hoisted by Citigroup from $20.00 to $21.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Several other research analysts also recently commented on WEN. Sanford C. Bernstein downgraded shares of Wendy’s from an outperform rating to a market perform rating and cut their price objective for the stock from $24.00 to $20.00 in a report on Thursday, February 22nd. Wedbush upped their price objective on Wendy’s from $20.00 to $21.00 and gave the stock a neutral rating in a report on Friday. TD Cowen reissued a hold rating and issued a $19.00 price target on shares of Wendy’s in a research note on Friday. Piper Sandler increased their price target on shares of Wendy’s from $21.00 to $23.00 and gave the company an overweight rating in a research report on Friday. Finally, Gordon Haskett cut shares of Wendy’s from a buy rating to a hold rating and set a $21.00 price target on the stock. in a report on Tuesday, January 16th. Fourteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $22.60.

Wendy’s Price Performance

WEN stock opened at $19.94 on Friday. The company has a fifty day moving average price of $18.80 and a 200-day moving average price of $19.05. Wendy’s has a 52-week low of $17.64 and a 52-week high of $23.90. The company has a market capitalization of $4.09 billion, a P/E ratio of 20.35, a PEG ratio of 2.00 and a beta of 0.78. The company has a debt-to-equity ratio of 11.21, a quick ratio of 2.18 and a current ratio of 2.04.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. Wendy’s had a net margin of 9.44% and a return on equity of 62.68%. The firm had revenue of $534.80 million during the quarter, compared to the consensus estimate of $540.84 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts expect that Wendy’s will post 0.99 EPS for the current year.

Wendy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 5.02%. Wendy’s’s dividend payout ratio (DPR) is 102.04%.

Insider Buying and Selling at Wendy’s

In other Wendy’s news, Director Kenneth W. Gilbert sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $18.07, for a total transaction of $81,315.00. Following the sale, the director now owns 31,304 shares of the company’s stock, valued at $565,663.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Wendy’s

A number of hedge funds have recently added to or reduced their stakes in the company. Highlander Capital Management LLC boosted its position in Wendy’s by 250.0% during the fourth quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 1,000 shares in the last quarter. Signaturefd LLC increased its holdings in Wendy’s by 112.0% during the 3rd quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 763 shares in the last quarter. Spire Wealth Management raised its position in Wendy’s by 203.2% during the third quarter. Spire Wealth Management now owns 1,516 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 1,016 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Wendy’s by 378.0% in the first 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 in the last quarter. Finally, Quarry LP acquired a new position in shares of Wendy’s in the fourth quarter worth $34,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wendy’s Company Profile

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.