Bank of Nova Scotia Makes New $1.09 Million Investment in The Wendy’s Company $WEN

Bank of Nova Scotia acquired a new position in shares of The Wendy’s Company (NASDAQ:WEN) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 131,213 shares of the restaurant operator’s stock, valued at approximately $1,091,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in Wendy’s during the second quarter worth approximately $27,000. Hilton Head Capital Partners LLC purchased a new position in shares of Wendy’s in the 4th quarter valued at $30,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Wendy’s in the 1st quarter valued at $30,000. Fifth Third Bancorp raised its stake in Wendy’s by 161.0% during the 4th quarter. Fifth Third Bancorp now owns 3,829 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 2,362 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new stake in Wendy’s during the 1st quarter worth $32,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

Key Headlines Impacting Wendy’s

Here are the key news stories impacting Wendy’s this week:

• Positive Sentiment: Wendy’s added a former McDonald’s marketer to its leadership team. The hire could strengthen advertising, value messaging and customer traffic as the company works to improve its competitive position. Wendy’s adds former McDonald’s marketer to leadership team
• Positive Sentiment: A limited-time promotion offering 10 nuggets for $1.99 may help drive restaurant visits and digital orders, although investors will monitor whether the discount supports traffic without excessively reducing margins. Wendy’s customers can now get 10 nuggets for $1.99

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. KeyCorp reiterated a “sector weight” rating on shares of Wendy’s in a research report on Tuesday, August 11th. Stephens reissued an “equal weight” rating and issued a $8.00 target price on shares of Wendy’s in a research report on Tuesday, June 23rd. UBS Group restated a “neutral” rating and set a $8.00 price target on shares of Wendy’s in a research note on Monday, August 10th. BMO Capital Markets reiterated a “market perform” rating on shares of Wendy’s in a research note on Monday, August 10th. Finally, Morgan Stanley set a $5.50 target price on shares of Wendy’s in a report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, Wendy’s has a consensus rating of “Reduce” and an average target price of $7.76.

Wendy’s Trading Down 0.9%

NASDAQ:WEN opened at $9.04 on Thursday. The firm has a market cap of $1.72 billion, a P/E ratio of 13.70, a PEG ratio of 0.75 and a beta of 0.37. The company has a current ratio of 1.90, a quick ratio of 1.88 and a debt-to-equity ratio of 27.95. The stock’s 50 day simple moving average is $7.84 and its 200-day simple moving average is $7.45. The Wendy’s Company has a 12-month low of $6.07 and a 12-month high of $10.62.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Friday, August 7th. The restaurant operator reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $570.57 million for the quarter, compared to analyst estimates of $557.13 million. Wendy’s had a net margin of 5.72% and a return on equity of 115.31%. Wendy’s’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS. Equities analysts anticipate that The Wendy’s Company will post 0.51 EPS for the current year.

Wendy’s Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 1st. Wendy’s’s payout ratio is 42.42%.

Wendy’s Company Profile

The Wendy’s Company (NASDAQ:WEN) operates as a global quick-service restaurant chain, best known for its square-shaped beef patties, fresh ingredient sourcing and signature Frosty dessert. The company’s menu features a variety of hamburgers, chicken sandwiches, salads, breakfast sandwiches, sides and beverages, designed to appeal to a broad customer base seeking both classic and contemporary fast-food options. Wendy’s has placed particular emphasis on product innovation, introducing limited-time offerings and revamped core menu items to maintain customer interest and respond to evolving dining trends.

Founded in 1969 by entrepreneur Dave Thomas in Columbus, Ohio, Wendy’s expanded rapidly through both company-owned and franchised outlets.