Bank of New York Mellon Corp Has $18.90 Million Stake in The Wendy's Company $WEN

Key Points

• Bank of New York Mellon increased its Wendy’s stake by 5.6% in the second quarter, holding 2.28 million shares valued at approximately $18.9 million. Institutional investors and hedge funds collectively own 85.96% of WEN.
• Wendy’s exceeded quarterly earnings expectations, reporting $0.18 EPS versus the $0.16 consensus and revenue of $570.57 million, up 1.8% year over year.
• The company announced a quarterly dividend of $0.07 per share, equivalent to a 3.4% annualized yield. Despite some positive analyst revisions, Wendy’s has a consensus “Reduce” rating and an average price target of $7.76.

Bank of New York Mellon Corp grew its position in The Wendy's Company (NASDAQ:WEN - Free Report) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,280,217 shares of the restaurant operator's stock after purchasing an additional 121,686 shares during the period. Bank of New York Mellon Corp owned approximately 1.20% of Wendy's worth $18,903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of WEN. Marshall Wace LLP acquired a new stake in shares of Wendy's in the third quarter valued at about $36,912,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Wendy's during the first quarter valued at approximately $26,062,000. AQR Capital Management LLC grew its stake in Wendy's by 38.1% in the fourth quarter. AQR Capital Management LLC now owns 11,705,610 shares of the restaurant operator's stock valued at $97,508,000 after purchasing an additional 3,227,366 shares in the last quarter. Wells Fargo & Company MN grew its stake in Wendy's by 258.6% in the fourth quarter. Wells Fargo & Company MN now owns 4,224,648 shares of the restaurant operator's stock valued at $35,191,000 after purchasing an additional 3,046,517 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Wendy's by 2,612.4% in the first quarter. Renaissance Technologies LLC now owns 2,340,282 shares of the restaurant operator's stock valued at $16,265,000 after purchasing an additional 2,254,000 shares in the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Wendy's Price Performance

NASDAQ:WEN opened at $8.30 on Tuesday. The Wendy's Company has a 12-month low of $6.07 and a 12-month high of $10.62. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.70 and a beta of 0.37. The stock's 50 day moving average price is $7.94 and its two-hundred day moving average price is $7.46. The company has a quick ratio of 1.88, a current ratio of 1.90 and a debt-to-equity ratio of 27.95.

Wendy's (NASDAQ:WEN - Get Free Report) last posted its earnings results on Friday, August 7th. The restaurant operator reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. Wendy's had a return on equity of 115.31% and a net margin of 5.72%.The business had revenue of $570.57 million for the quarter, compared to analyst estimates of $557.13 million. During the same period in the previous year, the firm earned $0.29 EPS. The firm's revenue was up 1.8% compared to the same quarter last year. On average, analysts anticipate that The Wendy's Company will post 0.5 earnings per share for the current year.

Wendy's Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.28 annualized dividend and a dividend yield of 3.4%. Wendy's's payout ratio is presently 84.85%.

Analyst Ratings Changes

WEN has been the topic of a number of analyst reports. Citigroup upped their price objective on Wendy's from $7.25 to $8.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. BMO Capital Markets reissued a "market perform" rating on shares of Wendy's in a research note on Monday, August 10th. Stephens restated an "equal weight" rating and set a $8.00 target price on shares of Wendy's in a report on Tuesday, June 23rd. Argus raised shares of Wendy's from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Wendy's from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat, Wendy's currently has a consensus rating of "Reduce" and an average price target of $7.76.

Wendy's Company Profile

The Wendy's Company NASDAQ: WEN operates as a global quick-service restaurant chain, best known for its square-shaped beef patties, fresh ingredient sourcing and signature Frosty dessert. The company's menu features a variety of hamburgers, chicken sandwiches, salads, breakfast sandwiches, sides and beverages, designed to appeal to a broad customer base seeking both classic and contemporary fast-food options. Wendy's has placed particular emphasis on product innovation, introducing limited-time offerings and revamped core menu items to maintain customer interest and respond to evolving dining trends.

Founded in 1969 by entrepreneur Dave Thomas in Columbus, Ohio, Wendy's expanded rapidly through both company-owned and franchised outlets.

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