Wendy’s Co. (WEN) Short Interest Up 5.9% in October
Wendy’s Co. (NASDAQ:WEN) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 31,921,203 shares, a growth of 5.9% from the October 14th total of 30,141,883 shares. Currently, 13.1% of the shares of the company are sold short. Based on an average trading volume of 3,118,853 shares, the short-interest ratio is currently 10.2 days.
Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in Wendy’s by 1.0% in the first quarter. State Street Corp now owns 5,953,396 shares of the company’s stock worth $64,831,000 after buying an additional 61,200 shares during the period. RS Investment Management Co. LLC raised its position in Wendy’s by 87.2% in the second quarter. RS Investment Management Co. LLC now owns 3,276,030 shares of the company’s stock worth $31,515,000 after buying an additional 1,526,300 shares during the period. Fort Pitt Capital Group LLC raised its position in Wendy’s by 5.9% in the second quarter. Fort Pitt Capital Group LLC now owns 1,389,885 shares of the company’s stock worth $13,371,000 after buying an additional 77,157 shares during the period. TIAA CREF Investment Management LLC raised its position in Wendy’s by 8.6% in the first quarter. TIAA CREF Investment Management LLC now owns 325,768 shares of the company’s stock worth $3,548,000 after buying an additional 25,672 shares during the period. Finally, Victory Capital Management Inc. raised its position in Wendy’s by 17.6% in the second quarter. Victory Capital Management Inc. now owns 43,587 shares of the company’s stock worth $419,000 after buying an additional 6,520 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.
A number of equities research analysts have recently weighed in on WEN shares. Citigroup Inc. reaffirmed a “buy” rating and set a $13.00 price target on shares of Wendy’s in a report on Wednesday, October 5th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $11.00 price target on shares of Wendy’s in a report on Friday, November 11th. Argus reaffirmed a “hold” rating on shares of Wendy’s in a report on Tuesday, August 23rd. Zacks Investment Research cut Wendy’s from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Finally, Vetr cut Wendy’s from a “strong-buy” rating to a “buy” rating and set a $11.21 price target on the stock. in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $12.92.
Wendy’s (NASDAQ:WEN) opened at 11.94 on Wednesday. Wendy’s has a 52-week low of $8.89 and a 52-week high of $12.02. The firm has a 50-day moving average of $10.90 and a 200 day moving average of $10.32. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 17.35 and a beta of 0.79.
Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. The firm had revenue of $364 million for the quarter, compared to analyst estimates of $350.35 million. Wendy’s had a net margin of 11.74% and a return on equity of 16.62%. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. On average, equities research analysts forecast that Wendy’s will post $0.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.065 dividend. The ex-dividend date is Tuesday, November 29th. This is a positive change from Wendy’s’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a yield of 2.18%. Wendy’s’s payout ratio is 35.29%.
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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