Wendys Co (WEN) Sees Large Growth in Short Interest
Wendys Co (NASDAQ:WEN) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 25,765,463 shares, a growth of 9.2% from the November 15th total of 23,593,036 shares. Approximately 11.5% of the company’s stock are sold short. Based on an average daily volume of 3,662,945 shares, the days-to-cover ratio is presently 7.0 days.
Several equities analysts recently issued reports on WEN shares. Morgan Stanley boosted their price objective on Wendys from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, November 9th. Nomura reduced their price target on Wendys from $15.00 to $14.50 and set a “neutral” rating for the company in a research report on Thursday, November 9th. Longbow Research raised Wendys from a “neutral” rating to a “buy” rating and upped their price target for the stock from $15.23 to $18.00 in a research report on Friday, September 15th. TheStreet downgraded Wendys from a “b-” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research downgraded Wendys from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Wendys presently has a consensus rating of “Hold” and a consensus price target of $16.21.
Shares of Wendys (NASDAQ:WEN) opened at $15.51 on Friday. Wendys has a 12 month low of $13.03 and a 12 month high of $16.66. The stock has a market capitalization of $3,785.53, a P/E ratio of 38.12, a PEG ratio of 2.75 and a beta of 0.93. The company has a debt-to-equity ratio of 5.83, a quick ratio of 1.78 and a current ratio of 1.80.
Wendys (NASDAQ:WEN) last announced its quarterly earnings data on Wednesday, November 8th. The restaurant operator reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). Wendys had a return on equity of 20.35% and a net margin of 5.20%. The company had revenue of $308.00 million for the quarter. During the same quarter in the prior year, the company posted $0.11 EPS. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. research analysts forecast that Wendys will post 0.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Thursday, November 30th. Wendys’s dividend payout ratio is currently 112.00%.
In other Wendys news, insider Scott A. Weisberg acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average cost of $14.29 per share, for a total transaction of $142,900.00. Following the transaction, the insider now owns 199,014 shares of the company’s stock, valued at $2,843,910.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider E.J. Wunsch sold 3,548 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $15.43, for a total value of $54,745.64. The disclosure for this sale can be found here. 26.50% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in WEN. Janus Henderson Group PLC bought a new stake in shares of Wendys during the 2nd quarter worth approximately $189,448,000. Castleark Management LLC bought a new stake in Wendys in the 2nd quarter valued at $14,085,000. Renaissance Technologies LLC raised its stake in Wendys by 208.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,208,522 shares of the restaurant operator’s stock valued at $18,744,000 after acquiring an additional 817,040 shares during the period. Marshall Wace North America L.P. raised its stake in Wendys by 1,466.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 803,766 shares of the restaurant operator’s stock valued at $12,860,000 after acquiring an additional 752,454 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Wendys in the 2nd quarter valued at $11,560,000. Institutional investors own 76.42% of the company’s stock.
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The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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