Wendy’s Co. (WEN) Short Interest Update
Wendy’s Co. (NASDAQ:WEN) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 26,732,018 shares, a drop of 5.4% from the September 15th total of 28,245,441 shares. Currently, 11.0% of the shares of the company are sold short. Based on an average daily volume of 3,765,586 shares, the days-to-cover ratio is presently 7.1 days.
Shares of Wendy’s (NASDAQ:WEN) opened at 10.79 on Friday. Wendy’s has a 12 month low of $8.57 and a 12 month high of $11.38. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 20.79 and a beta of 0.81. The company has a 50-day moving average price of $10.51 and a 200-day moving average price of $10.33.
Wendy’s (NASDAQ:WEN) last released its earnings results on Wednesday, August 10th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm earned $382.70 million during the quarter, compared to the consensus estimate of $366.92 million. Wendy’s had a return on equity of 15.94% and a net margin of 8.59%. The company’s revenue was down 21.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 EPS. Equities analysts forecast that Wendy’s will post $0.40 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.22%. Wendy’s’s payout ratio is 45.28%.
WEN has been the subject of several research reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Wendy’s in a research report on Wednesday, June 22nd. Zacks Investment Research cut Wendy’s from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. RBC Capital Markets cut Wendy’s from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $12.00 to $11.00 in a report on Tuesday, August 2nd. Stifel Nicolaus cut Wendy’s from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $12.00 to $11.00 in a report on Tuesday, August 2nd. Finally, Vetr cut Wendy’s from a “strong-buy” rating to a “buy” rating and set a $11.21 price objective for the company. in a report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $12.85.
Several hedge funds have recently added to or reduced their stakes in WEN. Seven Eight Capital LLC bought a new stake in Wendy’s during the second quarter worth $102,000. Stephens Inc. AR increased its stake in Wendy’s by 8.9% in the second quarter. Stephens Inc. AR now owns 12,525 shares of the company’s stock worth $120,000 after buying an additional 1,025 shares during the last quarter. LS Investment Advisors LLC increased its stake in Wendy’s by 67.1% in the second quarter. LS Investment Advisors LLC now owns 13,324 shares of the company’s stock worth $128,000 after buying an additional 5,350 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Wendy’s by 31.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,805 shares of the company’s stock worth $133,000 after buying an additional 3,321 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Wendy’s during the second quarter worth $137,000. Hedge funds and other institutional investors own 81.02% of the company’s stock.
The Wendy’s Company is the parent company of its 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 the restaurant company specializing in the hamburger sandwich segment.
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