Geode Capital Management LLC Has $36.50 Million Stock Position in The Wendy’s Company $WEN

Geode Capital Management LLC lessened its stake in shares of The Wendy’s Company (NASDAQ:WEN) by 4.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,195,270 shares of the restaurant operator’s stock after selling 137,401 shares during the period. Geode Capital Management LLC owned about 1.66% of Wendy’s worth $36,495,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Wendy’s by 7,180.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,422 shares of the restaurant operator’s stock worth $50,000 after purchasing an additional 3,375 shares in the last quarter. Signaturefd LLC lifted its stake in Wendy’s by 25.2% in the second quarter. Signaturefd LLC now owns 5,336 shares of the restaurant operator’s stock valued at $61,000 after acquiring an additional 1,074 shares during the last quarter. Covestor Ltd grew its position in shares of Wendy’s by 25.8% in the 1st quarter. Covestor Ltd now owns 5,069 shares of the restaurant operator’s stock valued at $74,000 after acquiring an additional 1,038 shares during the period. Allworth Financial LP grew its position in shares of Wendy’s by 366.9% in the 2nd quarter. Allworth Financial LP now owns 6,448 shares of the restaurant operator’s stock valued at $74,000 after acquiring an additional 5,067 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Wendy’s by 356.9% during the 2nd quarter. Parallel Advisors LLC now owns 7,246 shares of the restaurant operator’s stock worth $83,000 after purchasing an additional 5,660 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

Wendy’s Price Performance

Shares of NASDAQ WEN opened at $8.53 on Thursday. The business has a fifty day moving average price of $8.86 and a two-hundred day moving average price of $10.20. The stock has a market capitalization of $1.62 billion, a PE ratio of 8.89, a P/E/G ratio of 1.63 and a beta of 0.38. The company has a debt-to-equity ratio of 28.74, a current ratio of 1.45 and a quick ratio of 1.43. The Wendy’s Company has a fifty-two week low of $7.83 and a fifty-two week high of $18.71.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings results on Friday, November 7th. The restaurant operator reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Wendy’s had a return on equity of 103.07% and a net margin of 8.63%.The business had revenue of $442.50 million during the quarter, compared to the consensus estimate of $535.75 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Wendy’s’s revenue for the quarter was down 3.0% compared to the same quarter last year. Wendy’s has set its FY 2025 guidance at 0.820-0.890 EPS. As a group, equities analysts predict that The Wendy’s Company will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Monday, December 1st. Wendy’s’s dividend payout ratio (DPR) is 59.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of Wendy’s from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Northcoast Research cut Wendy’s from a “neutral” rating to a “sell” rating and set a $7.00 price objective for the company. in a research report on Thursday, September 25th. Truist Financial set a $12.00 target price on Wendy’s in a research note on Tuesday, October 14th. BMO Capital Markets restated a “market perform” rating and issued a $12.00 price target (down previously from $15.00) on shares of Wendy’s in a research note on Friday, August 8th. Finally, The Goldman Sachs Group cut their price target on Wendy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.86.

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.