Wendy's (WEN)

• Market cap: $3.01B
• 1 day: 0.41%
• 5 days: 0.55%
• 1 month: -1.61%
• 3 months: -8.87%
• 6 months: -16.82%
• Year to date: -8.87%
• 1 year: -20.98%
• 5 years: 5.15%
• 10 years: 35.39%
• 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)

77% more first-time investments, than exits

New positions opened: 85 | Existing positions closed: 48

8% more funds holding

Funds holding: 389 [Q3] → 419 (+30) [Q4]

1.65% more ownership

Funds ownership: 89.15% [Q3] → 90.8% (+1.65%) [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

5% less capital invested

Capital invested by funds: $3.2B [Q3] → $3.04B (-$167M) [Q4]

Research analyst outlook

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

• Low target: $14 5% downside
• Avg. target: $16.21 10% upside
• High target: $19 29% upside

12 analyst ratings

• positive: 1 8%
• neutral: 9 75%
• negative: 2 17%

Citigroup Jon Tower 55% 1-year accuracy 18 / 33 met price target	12% upside $16.50	Neutral Maintained	7 Mar 2025
UBS Dennis Geiger 57% 1-year accuracy 13 / 23 met price target	9% upside $16	Neutral Maintained	7 Mar 2025
Barclays Jeffrey Bernstein 49% 1-year accuracy 51 / 104 met price target	16% upside $17	Equal-Weight Maintained	7 Mar 2025
Wedbush Nick Setyan 50% 1-year accuracy 49 / 98 met price target	9% upside $16	Neutral Reiterated	7 Mar 2025
Stephens & Co. Jim Salera 33% 1-year accuracy 18 / 55 met price target	2% upside $15	Equal-Weight Reiterated	7 Mar 2025