Wendy’s (NASDAQ:WEN) Given Hold Rating at TD Cowen

TD Cowen restated their hold rating on shares of Wendy’s (NASDAQ:WEN) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $19.00 target price on the restaurant operator’s stock.

WEN has been the topic of a number of other research reports. BMO Capital Markets increased their price target on Wendy’s from $20.00 to $22.00 and gave the company a market perform rating in a research report on Friday, May 3rd. Royal Bank of Canada reduced their price target on Wendy’s from $22.00 to $20.00 and set a sector perform rating on the stock in a research report on Tuesday, February 20th. Stephens reaffirmed an equal weight rating and issued a $20.00 price target on shares of Wendy’s in a research report on Thursday, May 2nd. Wedbush increased their price target on Wendy’s from $20.00 to $21.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Finally, Citigroup increased their price target on Wendy’s from $20.00 to $21.00 and gave the company a neutral rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $21.79.

Wendy’s Price Performance

WEN opened at $16.68 on Thursday. The stock’s 50-day moving average price is $18.41 and its 200 day moving average price is $18.78. Wendy’s has a 12-month low of $16.22 and a 12-month high of $22.59. The company has a current ratio of 2.04, a quick ratio of 2.02 and a debt-to-equity ratio of 11.21. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.68 and a beta of 0.77.

Wendy’s (NASDAQ:WEN) last posted its earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. Wendy’s had a return on equity of 62.68% and a net margin of 9.44%. The firm had revenue of $534.80 million for the quarter, compared to analyst estimates of $540.84 million. During the same quarter in the prior year, the company earned $0.21 EPS. Wendy’s’s revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts expect that Wendy’s will post 1 earnings per share for the current year.

Wendy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 6.00%. Wendy’s’s dividend payout ratio is presently 101.01%.

Insider Buying and Selling

In other Wendy’s news, CMO Juan Carlos Loredo sold 44,806 shares of Wendy’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $19.50, for a total value of $873,717.00. Following the transaction, the chief marketing officer now directly owns 27,586 shares in the company, valued at approximately $537,927. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wendy’s

Institutional investors have recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC grew its position in Wendy’s by 262.4% during the fourth quarter. Capstone Investment Advisors LLC now owns 74,297 shares of the restaurant operator’s stock valued at $1,447,000 after acquiring an additional 53,794 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Wendy’s by 145.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,116 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 1,255 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Wendy’s during the fourth quarter worth about $2,533,000. Alberta Investment Management Corp acquired a new position in shares of Wendy’s during the fourth quarter worth about $1,027,000. Finally, Advisor Resource Council acquired a new position in shares of Wendy’s during the fourth quarter worth about $372,000. Hedge funds and other institutional investors 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.