WEN

JP Morgan Downgrades Wendy's (WEN)

Fintel reports that on February 21, 2024, JP Morgan downgraded their outlook for Wendy's (NasdaqGS:WEN) from Overweight to Neutral .

Analyst Price Forecast Suggests 26.32% Upside

As of January 19, 2024, the average one-year price target for Wendy's is 22.57. The forecasts range from a low of 19.19 to a high of $30.45. The average price target represents an increase of 26.32% from its latest reported closing price of 17.87.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Wendy's is 2,292MM, an increase of 5.06%. The projected annual non-GAAP EPS is 1.14.

What is the Fund Sentiment?

There are 766 funds or institutions reporting positions in Wendy's. This is an increase of 32 owner(s) or 4.36% in the last quarter. Average portfolio weight of all funds dedicated to WEN is 0.14%, a decrease of 7.41%. Total shares owned by institutions increased in the last three months by 2.68% to 213,822K shares. WEN / The Wendy's Company Put/Call Ratios The put/call ratio of WEN is 0.62, indicating a bullish outlook.

What are Other Shareholders Doing?

WEN / The Wendy's Company Shares Held by Institutions

Trian Fund Management holds 31,467K shares representing 15.31% ownership of the company. In it's prior filing, the firm reported owning 33,351K shares, representing a decrease of 5.99%. The firm decreased its portfolio allocation in WEN by 15.50% over the last quarter.

Massachusetts Financial Services holds 10,711K shares representing 5.21% ownership of the company. In it's prior filing, the firm reported owning 10,894K shares, representing a decrease of 1.70%. The firm decreased its portfolio allocation in WEN by 86.67% over the last quarter.

Jpmorgan Chase holds 5,943K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 5,843K shares, representing an increase of 1.69%. The firm decreased its portfolio allocation in WEN by 15.45% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,558K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 5,302K shares, representing an increase of 4.60%. The firm increased its portfolio allocation in WEN by 2.10% over the last quarter.

MVCAX - MFS Mid Cap Value Fund A holds 5,547K shares representing 2.70% ownership of the company. No change in the last quarter.

Wendy`s Background Information
(This description is provided by the company.)

Wendy's® was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the premise, "Quality is Our Recipe®," which remains the guidepost of the Wendy's system. Wendy's is primarily engaged in the business of operating, developing and franchising a system of distinctive quick-service restaurants serving high quality food. The Wendy's Company is committed to doing the right thing and making a positive difference in the lives of others. Today, Wendy's and its franchisees operate more than 6,800 restaurants worldwide with a vision of becoming the world's most thriving and beloved restaurant brand.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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