Several hedge funds have changed their investments in Wendy’s (WEN). AQR Capital Management increased its stake by 76.8%, owning 6.81 million shares worth $115.56 million. Point72 Asset Management purchased a new stake valued at $42.08 million. Squarepoint Ops raised its stake by 113.6%, now holding 3.49 million shares worth $59.21 million. Vanguard Group boosted its position by 6.4%, owning 21.1 million shares valued at $397.47 million. Capital Research also bought a new stake valued at $20.57 million. Overall, institutional investors own 85.96% of the company.
Wendy’s Price Performance
Wendy’s stock opened at $17.38. The stock’s 12-month low is $15.61, and the high is $20.65. The company has a market cap of $3.57 billion, with a price-to-earnings ratio of 17.56. Its 50-day and 200-day moving averages are $17.09 and $17.64, respectively.
Wendy’s announced quarterly earnings on August 1st, reporting $0.27 EPS, missing the $0.28 estimate. Revenue was $570.73 million, slightly below the expected $577.15 million, marking a 1.6% year-over-year increase. Analysts expect earnings of $0.98 for the year.
Wendy’s Announces Dividend
Wendy’s declared a quarterly dividend of $0.25, paid on September 17th to investors recorded as of September 3rd. The annual dividend totals $1.00, yielding 5.75%, with a payout ratio of 101.01%.
Insider Activity at Wendy’s
Director Matthew H. Peltz sold 1 million shares on August 8th for $17.18 per share, totaling $17.18 million. He now owns about 14.94 million shares valued at $256.73 million. Company insiders own 17.10% of the stock.
Analyst Ratings
Recently, analysts have made several revisions to Wendy’s stock ratings. Morgan Stanley lowered its target price from $20 to $19, while Truist Financial reduced theirs from $22 to $21. Stifel Nicolaus cut their estimate from $20 to $19. Conversely, JPMorgan raised their target from $20 to $22, and Wolfe Research upgraded Wendy’s to “strong-buy.” Overall, the stock holds an average “Hold” rating with a price target of $20.24.
Check Out Our Latest Stock Report on Wendy’s
Wendy’s Company Profile
The Wendy’s Company operates quick-service restaurants in the U.S. and internationally, focusing on hamburger sandwiches.
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