“Mattson Financial buys new shares in Wendy’s (NASDAQ:WEN)”

Several hedge funds and institutional investors have changed their investments in Wendy’s (WEN). AQR Capital Management increased its stake by 76.8%, owning approximately 6.8 million shares worth $115.56 million after acquiring nearly 3 million shares. Point72 Asset Management purchased new shares valued at about $42.08 million. Squarepoint Ops boosted its holdings by 113.6%, now owning around 3.5 million shares worth $59.21 million after adding almost 1.9 million shares. Vanguard Group raised its stake by 6.4%, owning over 21 million shares valued at $397.47 million, while Capital Research acquired new shares valued at around $20.57 million. Institutional investors now hold 85.96% of the stock.

Wendy�s Stock Performance

Wendy�s stock opened at $17.38 on Thursday. The 12-month low was $15.61 and the high was $20.65. With a market cap of $3.57 billion, the stock has a price-to-earnings ratio of 17.56 and a beta of 0.80.

Wendy�s reported a $0.27 EPS for the quarter ending August 1, missing the estimate of $0.28. Revenue was $570.73 million, slightly below expected $577.15 million, but up 1.6% year-over-year. Analysts predict an EPS of $0.98 for the current year.

Wendy�s Dividend Announcement

The company paid a quarterly dividend of $0.25 on September 17, 2023, for a total annual yield of 5.75%. The payout ratio is 101.01%.

Insider Trading at Wendy�s

Director Matthew H. Peltz sold 1 million shares at $17.18 each on August 8, totaling $17.18 million. He now holds nearly 14.9 million shares worth about $256.73 million. Company insiders own 17.10% of the stock.

Analyst Ratings

Analysts have mixed views on Wendy�s. Morgan Stanley lowered their target price from $20 to $19. Truist Financial cut theirs from $22 to $21. Stifel Nicolaus also reduced their price target from $20 to $19. Meanwhile, JPMorgan raised their target from $20 to $22. The overall consensus is a �Hold� rating with an average target price of $20.24.

Wendy�s Company Overview

The Wendy’s Company operates quick-service restaurants that specialize in hamburgers.

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Want to know what other hedge funds are holding WEN? Visit HoldingsChannel.com for the latest updates on The Wendy�s Company.

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