Wendy's (WEN)

• Market cap: $2.17B
• 1 day: -2.39%
• 5 days: -4.92%
• 1 month: -4.01%
• 3 months: -13.84%
• 6 months: -26.58%
• Year to date: -31.64%
• 1 year: -34.29%
• 5 years: -48.58%
• 10 years: 4.55%
• Sector: Consumer Discretionary
• Industry: Restaurants

About: The Wendy's Company is the second-largest burger quick-service restaurant, or QSR, chain in the United States by systemwide sales, with $12.6 billion in 2024, narrowly edging Burger King ($11.5 billion) and clocking in well behind wide-moat McDonald's ($51.1 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 more than 7,200 total stores in 30 countries as of year-end 2024. 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 roughly 94% of stores, and through franchise flipping and advisory fees.

Employees: 14,500

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

56% more repeat investments, than reductions

Existing positions increased: 172 | Existing positions reduced: 110

1.82% more ownership

Funds ownership: 91.39% [Q4 2024] → 93.2% (+1.82%) [Q1 2025]

6% more first-time investments, than exits

New positions opened: 74 | Existing positions closed: 70

0% more funds holding in top 10

Funds holding in top 10: 1 [Q4 2024] → 1 (+0) [Q1 2025]

0% less funds holding

Funds holding: 420 [Q4 2024] → 419 (-1) [Q1 2025]

10% less capital invested

Capital invested by funds: $3.04B [Q4 2024] → $2.73B (-$304M) [Q1 2025]

30% less call options, than puts

Call options by funds: $60.3M | Put options by funds: $86.2M

Research analyst outlook

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

• Low target: $13 18% upside
• Avg. target: $14.60 32% upside
• High target: $21 91% upside

10 analyst ratings

• positive: 3 30%
• neutral: 6 60%
• negative: 1 10%

Truist Securities Jake Bartlett	27% upside $14	Buy Maintained	9 Jul 2025
Stephens & Co. Jim Salera	27% upside $14	Equal-Weight Reiterated	17 Jun 2025
BMO Capital Andrew Strelzik	36% upside $15	Market Perform Maintained	6 May 2025
Loop Capital Alton Stump	91% upside $21	Buy Maintained	5 May 2025
Barclays Jeffrey Bernstein	18% upside $13	Equal-Weight Maintained	5 May 2025