Bank of New York Mellon Corp Reduces Stock Position in The Wendy’s Company $WEN

Bank of New York Mellon Corp trimmed its position in The Wendy’s Company (NASDAQ:WEN) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,436,054 shares of the restaurant operator’s stock after selling 141,305 shares during the period. Bank of New York Mellon Corp’s holdings in Wendy’s were worth $27,820,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WEN. Teacher Retirement System of Texas raised its position in shares of Wendy’s by 7.1% in the first quarter. Teacher Retirement System of Texas now owns 29,823 shares of the restaurant operator’s stock valued at $436,000 after buying an additional 1,974 shares during the last quarter. M&T Bank Corp grew its stake in Wendy’s by 49.1% in the 1st quarter. M&T Bank Corp now owns 15,677 shares of the restaurant operator’s stock worth $229,000 after acquiring an additional 5,163 shares during the period. Stephens Inc. AR acquired a new position in Wendy’s in the 1st quarter valued at $224,000. CWM LLC lifted its stake in shares of Wendy’s by 22.6% during the 1st quarter. CWM LLC now owns 200,375 shares of the restaurant operator’s stock worth $2,931,000 after purchasing an additional 36,954 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Wendy’s by 27.4% during the 1st quarter. Signaturefd LLC now owns 4,262 shares of the restaurant operator’s stock worth $62,000 after purchasing an additional 917 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

Wendy’s Stock Performance

Wendy’s stock opened at $8.62 on Friday. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 1.63 and a beta of 0.38. The Wendy’s Company has a 12 month low of $8.39 and a 12 month high of $18.71. 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 stock’s 50-day moving average is $9.11 and its 200-day moving average is $10.44.

Wendy’s (NASDAQ:WEN) last issued its earnings results on Friday, November 7th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $535.75 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Wendy’s has set its FY 2025 guidance at 0.820-0.890 EPS. Equities analysts anticipate that The Wendy’s Company will post 0.99 earnings per share for the current year.

Wendy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.56 annualized dividend and a dividend yield of 6.5%. Wendy’s’s dividend payout ratio is presently 59.57%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WEN shares. Zacks Research upgraded Wendy’s from a “strong sell” rating to a “hold” rating in a research note on Tuesday. BTIG Research restated a “neutral” rating on shares of Wendy’s in a report on Monday, September 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Wendy’s in a research note on Wednesday, October 8th. Barclays cut their price objective on shares of Wendy’s from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 22nd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $12.00 target price (down from $15.00) on shares of Wendy’s in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Wendy’s has a consensus rating of “Hold” and a consensus target price of $10.86.

Wendy’s Company Profile

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.