Pallas Capital Advisors LLC Buys 39,477 Shares of The Wendy's Company $WEN

Key Points

• Pallas Capital Advisors LLC increased its stake in The Wendy's Company by 53.9% in the second quarter, acquiring an additional 39,477 shares to own a total of 112,738 shares valued at $1.287 million.
• Wendy's recently reported an EPS of $0.29 for the quarter, exceeding estimates, but revenue decreased by 1.7% year-over-year.
• The company's quarterly dividend was set at $0.14, resulting in an annualized dividend yield of 5.9%.

Pallas Capital Advisors LLC raised its stake in shares of The Wendy's Company (NASDAQ:WEN - Free Report) by 53.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,738 shares of the restaurant operator's stock after purchasing an additional 39,477 shares during the quarter. Pallas Capital Advisors LLC owned 0.06% of Wendy's worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Wendy's by 1,111.9% during the first quarter. Farther Finance Advisors LLC now owns 2,133 shares of the restaurant operator's stock valued at $31,000 after purchasing an additional 1,957 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Wendy's by 7,180.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,422 shares of the restaurant operator's stock valued at $50,000 after purchasing an additional 3,375 shares during the last quarter. Signaturefd LLC lifted its position in Wendy's by 27.4% during the first quarter. Signaturefd LLC now owns 4,262 shares of the restaurant operator's stock valued at $62,000 after purchasing an additional 917 shares during the last quarter. GAMMA Investing LLC lifted its position in Wendy's by 91.0% during the first quarter. GAMMA Investing LLC now owns 4,266 shares of the restaurant operator's stock valued at $62,000 after purchasing an additional 2,033 shares during the last quarter. Finally, Covestor Ltd lifted its position in Wendy's by 25.8% during the first quarter. Covestor Ltd now owns 5,069 shares of the restaurant operator's stock valued at $74,000 after purchasing an additional 1,038 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Loop Capital dropped their target price on shares of Wendy's from $21.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Cowen restated a "hold" rating on shares of Wendy's in a report on Friday, August 8th. Stifel Nicolaus set a $12.00 price objective on shares of Wendy's in a report on Friday, August 15th. Morgan Stanley restated an "underweight" rating on shares of Wendy's in a report on Friday, August 8th. Finally, Piper Sandler restated an "overweight" rating and issued a $13.00 price objective on shares of Wendy's in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $12.97.

Wendy's Stock Up 0.5%

Shares of NASDAQ WEN opened at $9.52 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.43 and a debt-to-equity ratio of 28.74. The Wendy's Company has a 12 month low of $9.32 and a 12 month high of $20.60. The firm has a market capitalization of $1.81 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.37. The firm has a fifty day simple moving average of $10.28 and a two-hundred day simple moving average of $11.90.

Wendy's (NASDAQ:WEN - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. Wendy's had a net margin of 8.63% and a return on equity of 103.07%. The business had revenue of $560.93 million during the quarter, compared to analyst estimates of $558.95 million. During the same period in the prior year, the business earned $0.27 EPS. The company's revenue for the quarter was down 1.7% on a year-over-year basis. Wendy's has set its FY 2025 guidance at 0.820-0.89 EPS. Equities analysts expect that The Wendy's Company will post 0.99 earnings per share for the current year.

Wendy's Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.9%. Wendy's's dividend payout ratio is currently 58.33%.

About Wendy's

The Wendy's Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy's U.S., Wendy's International, and Global Real Estate and Development. The Wendy's U.S. segment includes the operation and franchising of Wendy's restaurants in the U.S.

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