BlackRock Inc. Has $218.15 Million Holdings in The Wendy's Company $WEN

Key Points

• BlackRock increased its Wendy’s stake by 21.1% in the second quarter, bringing its holdings to 26.3 million shares valued at approximately $218.15 million. Institutional investors and hedge funds collectively own 85.96% of the company.
• Wendy’s reported quarterly earnings of $0.18 per share, exceeding estimates of $0.16, while revenue reached $570.57 million, up 1.8% year over year. The company declared a quarterly dividend of $0.07 per share, representing a 3.6% annualized yield.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $7.76, near the stock’s quoted price of $7.82.

BlackRock Inc. lifted its holdings in shares of The Wendy's Company (NASDAQ:WEN - Free Report) by 21.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,314,724 shares of the restaurant operator's stock after purchasing an additional 4,576,075 shares during the quarter. BlackRock Inc. owned 13.81% of Wendy's worth $218,149,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new position in Wendy's in the 2nd quarter valued at $27,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Wendy's during the 4th quarter worth $30,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Wendy's in the first quarter worth $30,000. Fifth Third Bancorp increased its position in shares of Wendy's by 161.0% in the fourth quarter. Fifth Third Bancorp now owns 3,829 shares of the restaurant operator's stock worth $32,000 after purchasing an additional 2,362 shares during the period. Finally, SJS Investment Consulting Inc. acquired a new position in Wendy's in the first quarter valued at about $32,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wendy's Price Performance

WEN stock opened at $7.82 on Friday. The company has a 50 day simple moving average of $7.87 and a 200 day simple moving average of $7.45. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.75 and a beta of 0.37. The Wendy's Company has a 1 year low of $6.07 and a 1 year high of $10.62. The company has a debt-to-equity ratio of 27.95, a current ratio of 1.90 and a quick ratio of 1.88.

Wendy's (NASDAQ:WEN - Get Free Report) last issued its earnings results on Friday, August 7th. The restaurant operator reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The firm had revenue of $570.57 million for the quarter, compared to analyst estimates of $557.13 million. Wendy's had a net margin of 5.72% and a return on equity of 115.31%. The company's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.29 earnings per share. Research analysts anticipate that The Wendy's Company will post 0.51 EPS for the current fiscal year.

Wendy's Cuts Dividend

The company also recently disclosed 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 3.6%. Wendy's's dividend payout ratio (DPR) is 84.85%.

Analyst Ratings Changes

Several brokerages have recently commented on WEN. Stifel Nicolaus set a $6.00 target price on shares of Wendy's in a research report on Thursday, April 30th. JPMorgan Chase & Co. restated an "underweight" rating and set a $6.00 price objective (down from $7.00) on shares of Wendy's in a research report on Monday, May 11th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Wendy's in a report on Friday, July 17th. Stephens reiterated an "equal weight" rating and issued a $8.00 price target on shares of Wendy's in a research note on Tuesday, June 23rd. Finally, UBS Group reissued a "neutral" rating and set a $8.00 price target on shares of Wendy's in a report on Monday, August 10th. Two research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat, Wendy's presently has a consensus rating of "Reduce" and a consensus target price of $7.76.

Wendy's News Roundup

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

• Positive Sentiment: Wendy’s appointed a former McDonald’s marketer to its leadership team, potentially strengthening its marketing and competitive positioning as the company works to improve traffic and brand perception. Wendy’s adds former McDonald’s marketer to leadership team
• Positive Sentiment: New CEO Kirk Tanner reportedly acknowledged that past cost-cutting hurt food quality. The candid assessment could support a turnaround if Wendy’s can restore product quality and win back customers. Wendy’s New CEO Did Something Rare. He Admitted the Company’s Mistakes

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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