Wendy's (WEN)

• Market cap: $2.58B
• 1 day: -0.71%
• 5 days: -3.30%
• 1 month: -17.50%
• 3 months: -11.15%
• 6 months: -34.63%
• Year to date: -21.90%
• 1 year: -36.12%
• 5 years: -27.73%
• 10 years: 20.59%
• Sector: Consumer Discretionary
• Industry: Restaurants

About: The Wendy's Company is the second-largest burger quick-service restaurant, or QSR, chain in the United States by systemwide sales, with $12.3 billion in 2023, narrowly edging Burger King ($11.5 billion) and clocking in well behind wide-moat McDonald's ($53.1 billion). After divestitures of Tim Hortons (2006) and Arby's (2011), the firm manages just the burger banner, generating sales across a footprint that spanned almost 7,157 total stores in 30 countries as of year-end 2023. Wendy's generates revenue from the sale of hamburgers, chicken sandwiches, salads, and fries throughout its company-owned footprint, through franchise royalty and marketing fund payments remitted by its franchisees, which account for 94% of stores, and through franchise flipping and advisory fees.

Employees: 15,300

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

79% more first-time investments, than exits

New positions opened: 86 | Existing positions closed: 48

8% more funds holding

Funds holding: 389 [Q3] → 420 (+31) [Q4]

3.94% more ownership

Funds ownership: 86.86% [Q3] → 90.8% (+3.94%) [Q4]

8% more call options, than puts

Call options by funds: $30M | Put options by funds: $27.7M

0% more funds holding in top 10

Funds holding in top 10: 1 [Q3] → 1 (+0) [Q4]

2% less repeat investments, than reductions

Existing positions increased: 135 | Existing positions reduced: 138

3% less capital invested

Capital invested by funds: $3.12B [Q3] → $3.04B (-$85.1M) [Q4]

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $14 11% upside
• Avg. target: $16.23 29% upside
• High target: $19 51% upside

11 analyst ratings

• positive: 1 9%
• neutral: 9 82%
• negative: 1 9%

Stifel Chris O'Cull 33% 1-year accuracy 11 / 33 met price target	11% upside $14	Hold Maintained	15 Apr 2025
Stephens & Co. Jim Salera 28% 1-year accuracy 14 / 50 met price target	19% upside $15	Equal-Weight Reiterated	10 Apr 2025
Citigroup Jon Tower 40% 1-year accuracy 14 / 35 met price target	31% upside $16.50	Neutral Maintained	7 Mar 2025
UBS Dennis Geiger 48% 1-year accuracy 10 / 21 met price target	27% upside $16	Neutral Maintained	7 Mar 2025
Barclays Jeffrey Bernstein 45% 1-year accuracy 47 / 104 met price target	35% upside $17	Equal-Weight Maintained	7 Mar 2025