Wendy’s (NASDAQ:WEN) Price Target Lowered to $13.00 at TD Securities

Wendy’s (NASDAQ:WEN) had its target price decreased by TD Securities from $14.00 to $13.00 in a research report released on Friday morning,Benzinga reports. TD Securities currently has a hold rating on the restaurant operator’s stock.

Several other brokerages have also issued reports on WEN. 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. Barclays lowered their target price on shares of Wendy’s from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus cut their price target on Wendy’s from $16.00 to $14.00 and set a “hold” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reaffirmed an “underweight” rating and set a $14.00 price objective (down from $22.00) on shares of Wendy’s in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 target price on shares of Wendy’s in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.36.

Wendy’s Price Performance

Shares of WEN stock opened at $12.55 on Friday. 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 $2.46 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.00 and a beta of 0.40. The firm’s 50 day moving average is $14.04 and its 200-day moving average is $15.84. Wendy’s has a 1 year low of $12.05 and a 1 year high of $20.60.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings data on Friday, May 2nd. The restaurant operator reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. The firm had revenue of $523.47 million for the quarter, compared to analyst estimates of $530.11 million. Wendy’s had a return on equity of 75.56% and a net margin of 8.65%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. Sell-side analysts forecast that Wendy’s will post 0.99 EPS for the current fiscal year.

Wendy’s Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.46%. Wendy’s’s dividend payout ratio (DPR) is currently 59.57%.

Institutional Investors Weigh In On Wendy’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in Wendy’s by 670.3% during the fourth quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 1,220 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Wendy’s in the 4th quarter valued at approximately $30,000. Colonial Trust Co SC bought a new position in shares of Wendy’s in the fourth quarter valued at $31,000. Farther Finance Advisors LLC increased its holdings in Wendy’s by 1,111.9% during the first quarter. Farther Finance Advisors LLC now owns 2,133 shares of the restaurant operator’s stock worth $31,000 after buying an additional 1,957 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Wendy’s by 168.1% during the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator’s stock worth $36,000 after acquiring an additional 1,400 shares in the last quarter. 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.