Wendy’s Co. (NASDAQ:WEN) was the target of a significant drop in short interest in 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 company’s stock are sold short. Based on an average daily trading volume, of 3,765,586 shares, the days-to-cover ratio is presently 7.1 days.
A number of equities analysts have commented on the stock. Citigroup Inc. reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Wendy’s in a report on Wednesday, October 5th. Zacks Investment Research raised shares of Wendy’s from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, September 27th. Vetr downgraded shares of Wendy’s from a “buy” rating to a “hold” rating and set a $11.00 price target for the company. in a report on Thursday, September 15th. Argus reissued a “hold” rating on shares of Wendy’s in a report on Tuesday, August 23rd. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $11.00 price target on shares of Wendy’s in a report on Saturday, August 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. Wendy’s presently has an average rating of “Hold” and an average target price of $12.85.
Hedge funds have recently made changes to their positions in the stock. Invictus RG bought a new stake in shares of Wendy’s during the first quarter worth $162,000. Renaissance Technologies LLC boosted its stake in shares of Wendy’s by 1,753.5% in the first quarter. Renaissance Technologies LLC now owns 1,764,182 shares of the company’s stock worth $19,212,000 after buying an additional 1,669,000 shares during the period. Geode Capital Management LLC boosted its stake in shares of Wendy’s by 1.6% in the first quarter. Geode Capital Management LLC now owns 1,487,233 shares of the company’s stock worth $16,195,000 after buying an additional 23,616 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Wendy’s by 70.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,376 shares of the company’s stock worth $16,100,000 after buying an additional 610,953 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Wendy’s by 350.1% in the first quarter. UBS Asset Management Americas Inc. now owns 954,492 shares of the company’s stock worth $10,394,000 after buying an additional 742,432 shares during the period. Hedge funds and other institutional investors own 80.99% of the company’s stock.
Shares of Wendy’s (NASDAQ:WEN) opened at 10.87 on Wednesday. The firm has a 50-day moving average of $10.59 and a 200 day moving average of $10.32. The company has a market capitalization of $2.84 billion, a PE ratio of 20.94 and a beta of 0.81. Wendy’s has a 12 month low of $8.57 and a 12 month high of $11.38.
Wendy’s (NASDAQ:WEN) last announced its quarterly 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. Wendy’s had a return on equity of 15.94% and a net margin of 8.59%. The firm had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $366.92 million. During the same period in the prior year, the business posted $0.08 earnings per share. The business’s revenue was down 21.8% compared to the same quarter last year. On average, equities research analysts expect that Wendy’s will post $0.40 earnings per share for the current fiscal year.
Wendy’s Company Profile
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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