Recent activity shows several hedge funds investing in Wendy’s. AQR Capital Management increased its stakes by 76.8%, owning nearly 6.8 million shares worth about $115.6 million. Point72 purchased shares worth $42.1 million, while Squarepoint Ops raised its holdings by 113.6%, totaling $59.2 million. Vanguard Group increased its share ownership by 6.4% to 21.1 million shares valued at $397.5 million. Capital Research also bought new shares, totaling a significant institutional ownership of 85.96% in Wendy’s.
Insider Transactions at Wendy’s
On August 8, Director Matthew H. Peltz sold 1 million shares for $17.18 each, totaling $17.18 million. He retains about 14.9 million shares valued at $256.7 million. These transactions were disclosed to the SEC. Insiders hold about 17.10% of the stock.
Wendy’s Price Performance
Wendy’s stock (NASDAQ:WEN) opened at $17.38 with a market cap of $3.57 billion, P/E ratio of 17.56, and a beta of 0.80. It has seen fluctuations with a 12-month low of $15.61 and a high of $20.65. Earnings per share for the last quarter were $0.27, slightly below the estimate of $0.28, with revenues at $570.73 million.
Wendy’s Announces Dividend
The company declared a quarterly dividend of $0.25 per share, paid on September 17, with a yield of 5.75%. The dividend payout ratio is 101.01%.
Analyst Ratings Changes
Analysts are mixed on Wendy’s. Deutsche Bank reduced its target from $20 to $18 with a hold rating. BMO Capital cut estimates from $22 to $19. Goldman Sachs initiated coverage with a sell rating at $16. However, Wolfe Research upgraded Wendy’s to “strong-buy,” and Loop Capital maintained a buy rating with a target of $26. Overall, analysts rate Wendy’s as a “Hold” with an average target price of $20.24.
Read Our Latest Report on Wendy’s
About Wendy’s
The Wendy’s Company operates quick-service restaurants primarily in the U.S. and oversees a franchise system focusing on hamburgers.
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