Parallel Advisors LLC Boosts Stake in The Wendy’s Company $WEN

Parallel Advisors LLC lifted its stake in shares of The Wendy’s Company (NASDAQ:WEN) by 356.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,246 shares of the restaurant operator’s stock after purchasing an additional 5,660 shares during the period. Parallel Advisors LLC’s holdings in Wendy’s were worth $83,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WEN. Farther Finance Advisors LLC increased its stake in shares of Wendy’s by 1,111.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,133 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 1,957 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position 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 valued at $50,000 after purchasing an additional 3,375 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Wendy’s by 91.0% during the 1st quarter. GAMMA Investing LLC now owns 4,266 shares of the restaurant operator’s stock worth $62,000 after acquiring an additional 2,033 shares during the last quarter. Signaturefd LLC lifted its holdings 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 acquiring an additional 917 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Wendy’s by 25.8% during the 1st quarter. Covestor Ltd now owns 5,069 shares of the restaurant operator’s stock worth $74,000 after acquiring an additional 1,038 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Wendy’s Price Performance

Shares of NASDAQ WEN opened at $9.29 on Thursday. The Wendy’s Company has a 1 year low of $9.08 and a 1 year high of $20.60. 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 company’s 50-day moving average is $10.16 and its 200 day moving average is $11.74. The stock has a market capitalization of $1.77 billion, a P/E ratio of 9.68, a P/E/G ratio of 1.71 and a beta of 0.37.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Friday, August 8th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating 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 company had revenue of $560.93 million for the quarter, compared to analysts’ expectations of $558.95 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. Wendy’s’s quarterly revenue was down 1.7% on a year-over-year basis. Wendy’s has set its FY 2025 guidance at 0.820-0.89 EPS. On average, sell-side analysts expect that The Wendy’s Company will post 0.99 earnings per share for the current year.

Wendy’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $0.14 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.56 annualized dividend and a dividend yield of 6.0%. Wendy’s’s payout ratio is currently 58.33%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. UBS Group reissued a “neutral” rating and issued a $11.00 price target (down from $14.00) on shares of Wendy’s in a research note on Wednesday, July 30th. Truist Financial lowered their price target on shares of Wendy’s from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, August 11th. BMO Capital Markets reissued a “market perform” rating and issued a $12.00 price target (down from $15.00) on shares of Wendy’s in a research note on Friday, August 8th. Stephens reaffirmed an “equal weight” rating on shares of Wendy’s in a research note on Monday, August 11th. Finally, Stifel Nicolaus set a $12.00 price objective on shares of Wendy’s in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.97.

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.