JPMorgan Chase & Co. Raises Wendy’s (NASDAQ:WEN) Price Target to $22.00

Wendy’s (NASDAQ:WEN) had its price target upped by JPMorgan Chase & Co. from $20.00 to $22.00 in a report issued on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the restaurant operator’s stock.

A number of other equities analysts have also issued reports on WEN. Morgan Stanley lowered their price target on Wendy’s from $20.00 to $19.00 and set an equal weight rating on the stock in a report on Tuesday, July 16th. BMO Capital Markets lowered their price target on Wendy’s from $22.00 to $19.00 and set a market perform rating on the stock in a report on Friday, August 2nd. Piper Sandler lowered their price target on Wendy’s from $23.00 to $19.00 and set an overweight rating on the stock in a report on Friday, August 2nd. Tigress Financial reaffirmed a buy rating and issued a $29.00 price objective on shares of Wendy’s in a report on Wednesday, September 4th. Finally, Stephens reaffirmed an equal weight rating and issued a $19.00 price objective on shares of Wendy’s in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $20.24.

Wendy’s Stock Up 0.9 %

Wendy’s stock opened at $17.73 on Monday. The stock’s fifty day moving average is $16.98 and its two-hundred day moving average is $17.70. The company has a debt-to-equity ratio of 12.01, a current ratio of 2.17 and a quick ratio of 2.15. Wendy’s has a 1-year low of $15.61 and a 1-year high of $20.84. The stock has a market cap of $3.60 billion, a PE ratio of 17.91, a P/E/G ratio of 2.22 and a beta of 0.80.

Wendy’s (NASDAQ:WEN) last posted its earnings results on Thursday, August 1st. The restaurant operator reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. The firm had revenue of $570.73 million for the quarter, compared to analyst estimates of $577.15 million. During the same quarter last year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts expect that Wendy’s will post 0.98 EPS for the current fiscal year.

Wendy’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 5.64%. Wendy’s’s dividend payout ratio (DPR) is presently 101.01%.

Insider Buying and Selling at Wendy’s

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $17.18, for a total value of $17,180,000.00. Following the completion of the transaction, the director now directly owns 14,943,466 shares in the company, valued at approximately $256,728,745.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.10% of the stock is currently owned by insiders.

Institutional Trading of Wendy’s

Several institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC boosted its position in Wendy’s by 378.0% during the 1st quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 1,240 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Wendy’s during the 2nd quarter worth $27,000. Quarry LP purchased a new stake in Wendy’s during the 4th quarter worth $34,000. Bessemer Group Inc. boosted its position in Wendy’s by 483.2% during the 1st quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock worth $35,000 after purchasing an additional 1,551 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Wendy’s during the 2nd quarter worth $33,000. 85.96% of the stock is owned by hedge funds and other institutional investors.

About Wendy’s

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.