BlackRock Fund Advisors recently announced the acquisition of new stake in The Wendy’s Company (NASDAQ:WEN). The institutional investor has increased its shareholding in the Consumer Cyclical company by 32.42% to 18.57 million shares with purchase of 4.55 million shares. This fresh investment now brings its stake to 8.73% valued currently at $410.33 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.79 million to 18.15 million shares. And Allspring Global Investments LLC has lifted its position by 0.90% or 46243.0 shares – to 5.16 million shares.
With over 2.66 million The Wendy’s Company (WEN) shares trading Friday and a closing price of $23.40 on the day, the dollar volume was approximately $62.19 million. The shares have shown a positive half year performance of 12.93% and its price on 05/19/23 lost nearly -0.43%. Currently, there are 212.55M common shares owned by the public and among those 194.79M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 28 analysts who have offered their price forecasts for WEN have a consensus price objective of $25.25. The analysts have set the share’s price value over the next 12 months at a high of $29.00 and a low of $21.00. The average price target is 7.55% above its recent price level and a downside to the estimated low will see the stock lose -11.43% over that period. But an upside of 19.31% will see the stock hit the forecast high price target while median target price for the stock is $25.00.
Insiders at the company have transacted a total of 44 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 345,257 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 14,769,928 shares.
The top 3 mutual fund holders in The Wendy’s Company are MFS Mid Cap Value Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF. MFS Mid Cap Value Fund owns 5.52 million shares of the company’s stock, all valued at over $122.04 million. iShares Core S&P Mid Cap ETF bought 17599.0 shares to see its total holdings expand to 5.32 million shares valued at over $117.53 million and representing 2.50% of the shares outstanding. Vanguard Total Stock Market ETF bought 36209.0 shares to bring its total holdings to over 5.26 million shares at a value of $116.17 million. Vanguard Total Stock Market ETF now owns shares totaling to 2.47% of the shares outstanding.
Shares of The Wendy’s Company (NASDAQ: WEN) opened at $23.86, up $0.36 from a prior closing price of $23.50. However, the script later moved the day high at 23.89, down -0.43%. The company’s stock has a 5-day price change of -0.17% and 2.18% over the past three months. WEN shares are trading 3.40% year to date (YTD), with the 12-month market performance up to 39.45% higher. It has a 12-month low price of $16.06 and touched a high of $23.90 over the same period. WEN has an average intraday trading volume of 3.13 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.06%, 6.85%, and 9.11% respectively.
Institutional ownership of The Wendy’s Company (NASDAQ: WEN) shares accounts for 71.90% of the company’s 212.55M shares outstanding. Mutual fund holders own 32.82%, while other institutional holders and individual stakeholders account for 42.51% and 20.29% respectively.
It has a market capitalization of $4.95B and a beta (3y monthly) value of 0.91. The stock’s trailing 12-month PE ratio is 27.99, while the earnings-per-share (ttm) stands at $0.84. The company has a PEG of 2.37 and a Quick Ratio of 2.50 with the debt-to-equity ratio at 8.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.71% over the week and 2.03% over the month.
Analysts forecast that The Wendy’s Company (WEN) will achieve an EPS of $0.27 for the current quarter, $0.26 for the next quarter and $1.13 for 2024. The lowest estimate earnings-per-share for the quarter is $0.24 while analysts give the company a high EPS estimate of $0.29. Comparatively, EPS for the current quarter was $0.24 a year ago. Earnings per share for the fiscal year are expected to decrease by -8.00%, and 14.72% over the next financial year. EPS should shrink at an annualized rate of 11.84% over the next five years, compared to 32.20% over the past 5-year period.
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