Wendy’s (NASDAQ:WEN) Given a $13.00 Price Target at Truist Financial

Truist Financial set a $13.00 target price on Wendy’s (NASDAQ:WEN) in a research note issued to investors on Monday morning, Marketbeat reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

A number of other analysts have also recently weighed in on the company. Loop Capital lowered their price target on Wendy’s from $21.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. TD Securities lowered their price target on Wendy’s from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, May 2nd. UBS Group reiterated a “neutral” rating and issued a $11.00 price target (down from $14.00) on shares of Wendy’s in a research report on Wednesday, July 30th. Guggenheim cut Wendy’s from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 14th. Finally, Barclays lowered their price target on Wendy’s from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.87.

Wendy’s Stock Up 2.2%

Shares of Wendy’s stock opened at $10.31 on Monday. The stock has a market capitalization of $1.98 billion, a P/E ratio of 10.74, a PEG ratio of 2.05 and a beta of 0.31. The company has a quick ratio of 1.43, a current ratio of 1.45 and a debt-to-equity ratio of 28.74. The stock has a 50 day moving average price of $11.05 and a two-hundred day moving average price of $12.79. Wendy’s has a 12-month low of $9.74 and a 12-month high of $20.60.

Wendy’s (NASDAQ:WEN) last announced its earnings results on Friday, August 8th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $560.93 million during the quarter, compared to analysts’ expectations of $558.95 million. Wendy’s had a return on equity of 103.07% and a net margin of 8.63%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. Equities analysts expect that Wendy’s will post 0.99 earnings per share for the current year.

Wendy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.56 annualized dividend and a yield of 5.4%. Wendy’s’s dividend payout ratio is presently 58.33%.

Insiders Place Their Bets

In related news, CMO Lindsay J. Radkoski bought 5,050 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average price of $11.68 per share, with a total value of $58,984.00. Following the completion of the purchase, the chief marketing officer owned 28,956 shares of the company’s stock, valued at $338,206.08. This represents a 21.12% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On Wendy’s

A number of hedge funds have recently modified their holdings of WEN. Cubist Systematic Strategies LLC raised its position in shares of Wendy’s by 3,249.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 1,568,348 shares of the restaurant operator’s stock worth $25,564,000 after purchasing an additional 1,521,527 shares during the period. Northern Trust Corp raised its position in shares of Wendy’s by 89.6% during the first quarter. Northern Trust Corp now owns 2,987,332 shares of the restaurant operator’s stock worth $43,705,000 after purchasing an additional 1,411,912 shares during the period. Invesco Ltd. raised its position in shares of Wendy’s by 296.1% during 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. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Wendy’s by 6,474.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,134,230 shares of the restaurant operator’s stock worth $12,953,000 after purchasing an additional 1,116,979 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Wendy’s during the first quarter worth about $15,117,000. Institutional investors and hedge funds 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.