Truist Financial Corp Has $654,000 Stock Position in The Wendy’s Company $WEN

Truist Financial Corp grew its holdings in shares of The Wendy’s Company (NASDAQ:WEN) by 54.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,296 shares of the restaurant operator’s stock after buying an additional 20,249 shares during the quarter. Truist Financial Corp’s holdings in Wendy’s were worth $654,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Gradient Investments LLC grew its holdings in shares of Wendy’s by 6.2% during the second quarter. Gradient Investments LLC now owns 836,626 shares of the restaurant operator’s stock valued at $9,554,000 after buying an additional 48,736 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Wendy’s by 398.2% during the first quarter. Intech Investment Management LLC now owns 192,177 shares of the restaurant operator’s stock worth $2,812,000 after purchasing an additional 153,604 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Wendy’s by 7.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,767,723 shares of the restaurant operator’s stock worth $99,012,000 after purchasing an additional 464,444 shares during the last quarter. Rhumbline Advisers boosted its holdings in Wendy’s by 20.1% during the first quarter. Rhumbline Advisers now owns 700,472 shares of the restaurant operator’s stock worth $10,248,000 after purchasing an additional 117,324 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Wendy’s by 5.9% during the first quarter. Bank of New York Mellon Corp now owns 2,577,359 shares of the restaurant operator’s stock worth $37,707,000 after purchasing an additional 142,500 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wendy’s Stock Up 2.9%

WEN opened at $8.92 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.45 and a debt-to-equity ratio of 28.74. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 1.63 and a beta of 0.38. The Wendy’s Company has a twelve month low of $8.55 and a twelve month high of $20.60. The company’s 50-day moving average price is $9.81 and its two-hundred day moving average price is $11.13.

Wendy’s (NASDAQ:WEN) last released its earnings results on Friday, August 8th. The restaurant operator reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $560.93 million for the quarter, compared to analysts’ expectations of $558.95 million. Wendy’s had a net margin of 8.63% and a return on equity of 103.07%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. Wendy’s has set its FY 2025 guidance at 0.820-0.89 EPS. As a group, 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 declared 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 annualized dividend and a dividend yield of 6.3%. Wendy’s’s payout ratio is 58.33%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Wendy’s in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Wendy’s from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Citigroup upgraded shares of Wendy’s from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. Morgan Stanley restated an “underweight” rating on shares of Wendy’s in a report on Friday, August 8th. Finally, BMO Capital Markets restated a “market perform” rating and set a $12.00 price target (down from $15.00) on shares of Wendy’s in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Wendy’s has an average rating of “Hold” and a consensus target price of $12.43.

Wendy’s 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.