Recently, several institutional investors have increased or acquired stakes in Wendys. AQR Capital Management raised its holdings by 76.8%, now owning approximately 6.8 million shares worth about $115.6 million. Point72 Asset Management purchased new shares valued at $42.1 million. Squarepoint Ops also increased its holdings by 113.6%, owning about 3.5 million shares valued at $59.2 million. Vanguard Group raised its stake by 6.4%, totaling 21.1 million shares worth around $397.5 million. Capital Research Global Investors acquired a new stake worth $20.6 million. Overall, institutional investors and hedge funds own about 86% of the stock.
Insider Transactions at Wendys
Director Matthew H. Peltz sold 1 million shares on August 8 for $17.18 each, totaling $17.18 million. After the sale, he retains around 14.9 million shares valued at about $256.7 million. This transaction was disclosed on the SEC website, and corporate insiders hold about 17.1% of the shares.
Wendys Price Performance
On Thursday, NASDAQ:WEN opened at $17.38, with a market cap of $3.57 billion. The company’s quick ratio is 2.15 and its debt-to-equity ratio is 12.01. Wendy’s reported Q2 earnings of $0.27 per share, slightly below the expected $0.28, with revenue at $570.7 million. Analysts forecast earnings of $0.98 per share for this year.
Wendys Dividend Announcement
Wendys declared a quarterly dividend of $0.25 per share, paid on September 17. Shareholders as of September 3 received this dividend, resulting in an annual dividend yield of 5.75%. Their dividend payout ratio is currently 101.01%.
Analyst Ratings Changes
Deutsche Bank reduced Wendys price target from $20 to $18, maintaining a hold rating. BMO Capital Markets lowered theirs from $22 to $19 with a market perform rating. Goldman Sachs initiated coverage with a sell rating and a $16 target. Wolfe Research upgraded Wendys to strong-buy, while Loop Capital reaffirmed a buy rating with a $26 target. Overall, the stock has 1 sell, 15 holds, 4 buys, and 1 strong buy rating, with an average target price of $20.24.
Read Our Latest Report on Wendys
About Wendys
The Wendy’s Company operates quick-service restaurants in the U.S. and internationally, focusing mainly on hamburger sandwiches.
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