In this article, we take a look at billionaire Nelson Peltz’s top 5 stock picks as of the end of the first quarter of 2022. To read our discussion on the latest developments surrounding Peltz’s hedge fund, go directly to Billionaire Nelson Peltz’s Latest Portfolio: Top 7 Stock Picks.
5. The Wendy’s Company (NASDAQ:WEN)
Number of Hedge Fund Holders: 25
Nelson Peltz’s Trian Partners’ Holdings: $556,573,000
Percentage of Nelson Peltz’s Trian Partners’ Portfolio: 9.31%
Stock Price as of June 29: $18.92
The Wendy’s Company (NASDAQ:WEN) is a Dublin, Ohio-based fast-food chain holding company with over 7,000 restaurants globally.
In a note issued to investors on June 21, Alton Stump at Loop Capital revealed that the same-store sales for The Wendy’s Company (NASDAQ:WEN) have increased from 5% to 5.5% in the last four weeks as opposed to 3.5% to 4% during the first half of Q2 2022. This means that the comparable store sales are up 4% to 4.5% during the ongoing quarter, which is higher than the consensus estimate. The analyst has given Wendy’s Company (NASDAQ:WEN) stock a Buy rating with a target price of $26.
Nelson Peltz’s Trian Partners is the biggest shareholder in The Wendy’s Company (NASDAQ:WEN) as of Q1 2022. The hedge fund has shown its interest in acquiring Wendy’s and taking it private to improve operations, lower overheads, and boost shareholder returns. Trian Partners initiated a stake in The Wendy’s Company (NASDAQ:WEN) nearly two decades ago and helped the company to divest the Tim Hortons division. Following that, the investment firm aided the merger of Wendy’s with Arby’s in 2008.
As of Q1 2022, 25 funds held a stake in The Wendy’s Company (NASDAQ:WEN).