Bank of Nova Scotia Purchases New Stake in The Wendy's Company $WEN

Bank of Nova Scotia acquired a new position in shares of The Wendy's Company (NASDAQ:WEN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 131,213 shares of the restaurant operator's stock, valued at approximately $1,091,000. Bank of Nova Scotia owned about 0.07% of Wendy's as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Trian Fund Management L.P. purchased a new position in shares of Wendy's during the 2nd quarter worth $252,583,000. BlackRock Inc. grew its stake in shares of Wendy's by 21.1% in the 2nd quarter. BlackRock Inc. now owns 26,314,724 shares of the restaurant operator's stock valued at $218,149,000 after buying an additional 4,576,075 shares during the period. Marshall Wace LLP acquired a new stake in shares of Wendy's during the 3rd quarter worth approximately $36,912,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Wendy's in the first quarter valued at approximately $26,062,000. Finally, AQR Capital Management LLC grew its position 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 worth $97,508,000 after acquiring an additional 3,227,366 shares during the period. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

More Wendy's News

Here are the key news stories impacting Wendy's this week:

• Positive Sentiment: Wendy’s added a former McDonald’s marketer to its leadership team. The hire could strengthen advertising, value messaging and customer traffic as the company works to improve its competitive position. Wendy’s adds former McDonald’s marketer to leadership team
• Positive Sentiment: A limited-time promotion offering 10 nuggets for $1.99 may help drive restaurant visits and digital orders, although investors will monitor whether the discount supports traffic without excessively reducing margins. Wendy’s customers can now get 10 nuggets for $1.99

Wendy's Trading Down 0.9%

Shares of WEN stock opened at $9.04 on Thursday. The company has a debt-to-equity ratio of 27.95, a quick ratio of 1.88 and a current ratio of 1.90. The stock has a market capitalization of $1.72 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 0.75 and a beta of 0.37. The company has a 50 day moving average price of $7.84 and a 200 day moving average price of $7.45. The Wendy's Company has a fifty-two week low of $6.07 and a fifty-two week high of $10.62.

Wendy's (NASDAQ:WEN - Get Free Report) last released its earnings results on Friday, August 7th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. Wendy's had a net margin of 5.72% and a return on equity of 115.31%. The company had revenue of $570.57 million for the quarter, compared to analyst estimates of $557.13 million. During the same period in the prior year, the business earned $0.29 EPS. The firm's quarterly revenue was up 1.8% on a year-over-year basis. Equities research analysts predict that The Wendy's Company will post 0.51 EPS for the current fiscal 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 paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Wendy's's payout ratio is presently 42.42%.

Wall Street Analyst Weigh In

WEN has been the topic of several recent analyst reports. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $6.00 price target (down from $7.00) on shares of Wendy's in a research note on Monday, May 11th. Argus raised shares of Wendy's from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research note on Wednesday, May 13th. TD Cowen reissued a "hold" rating and issued a $6.00 price target on shares of Wendy's in a research note on Tuesday, May 12th. UBS Group reaffirmed a "neutral" rating and set a $8.00 price objective on shares of Wendy's in a research report on Monday, August 10th. Finally, Wall Street Zen raised Wendy's from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average 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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