Wendy's (WEN)

• Market cap: $3.12B
• 1 day: -0.20%
• 5 days: 0.80%
• 1 month: 7.34%
• 3 months: -16.01%
• 6 months: -10.42%
• Year to date: -5.65%
• 1 year: -14.89%
• 5 years: -36.47%
• 10 years: 34.72%
• Sector: Consumer Discretionary
• Industry: Eating & Drinking Places

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 filings by fund managers ($100M+ AUM)

66% more first-time investments, than exits

New positions opened: 78 | Existing positions closed: 47

3% more funds holding

Funds holding: 389 [Q3] → 402 (+13) [Q4]

1.86% more ownership

Funds ownership: 89.15% [Q3] → 91.02% (+1.86%) [Q4]

10% more call options, than puts

Call options by funds: $30M | Put options by funds: $27.4M

0% more funds holding in top 10

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

1% less repeat investments, than reductions

Existing positions increased: 132 | Existing positions reduced: 133

6% less capital invested

Capital invested by funds: $3.2B [Q3] → $3.02B (-$179M) [Q4]

Research analyst outlook

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

• Low target: $14 8% downside
• Avg. target: $16 5% upside
• High target: $19 25% upside

8 analyst ratings

• positive: 1 13%
• neutral: 5 63%
• negative: 2 25%

Stifel Chris O'Cull 81% 1-year accuracy 29 / 36 met price target	5% upside $16	Hold Maintained	19 Feb 2025
Truist Securities Jake Bartlett 46% 1-year accuracy 32 / 69 met price target	25% upside $19	Buy Maintained	14 Feb 2025
Barclays Jeffrey Bernstein 50% 1-year accuracy 52 / 105 met price target	5% upside $16	Equal-Weight Maintained	14 Feb 2025
Stephens & Co. Jim Salera 54% 1-year accuracy 26 / 48 met price target	1% downside $15	Equal-Weight Reiterated	14 Feb 2025
Wedbush Nick Setyan 60% 1-year accuracy 59 / 98 met price target	5% upside $16	Neutral Maintained	14 Feb 2025