Fintel reports that on June 13, 2024, Goldman Sachs initiated coverage of Wendy's (NasdaqGS:WEN) with a Sell recommendation.
Analyst Price Forecast Suggests 28.97% Upside
As of June 12, 2024, the average one-year price target for Wendy's is 21.74. The forecasts range from a low of 18.18 to a high of $30.45. The average price target represents an increase of 28.97% from its latest reported closing price of 16.86.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Wendy's is 2,292MM, an increase of 4.78%. The projected annual non-GAAP EPS is 1.14.
What is the Fund Sentiment?
There are 755 funds or institutions reporting positions in Wendy's. This is an decrease of 18 owner(s) or 2.33% in the last quarter. Average portfolio weight of all funds dedicated to WEN is 0.12%, an increase of 6.52%. Total shares owned by institutions decreased in the last three months by 0.82% to 211,301K shares. 
The put/call ratio of WEN is 0.79, indicating a bullish outlook.
What are Other Shareholders Doing?
Trian Fund Management holds 31,467K shares representing 15.34% ownership of the company. No change in the last quarter.
Harris Associates L P holds 8,643K shares representing 4.21% ownership of the company. In its prior filing, the firm reported owning 4,942K shares , representing an increase of 42.82%. The firm increased its portfolio allocation in WEN by 55.33% over the last quarter.
Charles Schwab Investment Management holds 5,958K shares representing 2.90% ownership of the company. In its prior filing, the firm reported owning 4,706K shares , representing an increase of 21.02%. The firm decreased its portfolio allocation in WEN by 0.19% over the last quarter.
Jpmorgan Chase holds 5,912K shares representing 2.88% ownership of the company. In its prior filing, the firm reported owning 5,943K shares , representing a decrease of 0.53%. The firm decreased its portfolio allocation in WEN by 90.57% over the last quarter.
Massachusetts Financial Services holds 5,792K shares representing 2.82% ownership of the company. In its prior filing, the firm reported owning 10,711K shares , representing a decrease of 84.94%. The firm decreased its portfolio allocation in WEN by 92.52% over 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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