Wendy’s Co. (NASDAQ:WEN) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 28,245,441 shares, a drop of 21.8% from the August 31st total of 36,132,562 shares. Based on an average daily volume of 4,178,397 shares, the short-interest ratio is currently 6.8 days. Approximately 11.6% of the company’s stock are short sold.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Wendy’s from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Goldman Sachs Group Inc. lowered shares of Wendy’s from a “conviction-buy” rating to a “buy” rating and dropped their price objective for the company from $12.50 to $11.00 in a research note on Thursday, August 11th. Stifel Nicolaus downgraded shares of Wendy’s from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $12.00 to $11.00 in a research report on Tuesday, August 2nd. Royal Bank Of Canada reissued an “outperform” rating on shares of Wendy’s in a research report on Wednesday, June 22nd. Finally, Vetr downgraded shares of Wendy’s from a “strong-buy” rating to a “buy” rating and set a $11.21 price target for the company. in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Wendy’s presently has an average rating of “Hold” and a consensus price target of $12.85.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Eqis Capital Management Inc. raised its position in shares of Wendy’s by 12.8% in the third quarter. Eqis Capital Management Inc. now owns 14,633 shares of the company’s stock worth $158,000 after buying an additional 1,665 shares during the period. Mason Street Advisors LLC acquired a new position in shares of Wendy’s during the second quarter worth approximately $935,000. Royal Bank of Canada raised its position in shares of Wendy’s by 9.0% in the second quarter. Royal Bank of Canada now owns 45,415 shares of the company’s stock worth $437,000 after buying an additional 3,731 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Wendy’s by 1.2% in the second quarter. Public Employees Retirement System of Ohio now owns 61,433 shares of the company’s stock worth $591,000 after buying an additional 755 shares during the period. Finally, Calvert Investment Management Inc. raised its position in shares of Wendy’s by 8.3% in the second quarter. Calvert Investment Management Inc. now owns 16,313 shares of the company’s stock worth $157,000 after buying an additional 1,251 shares during the period. Institutional investors own 81.02% of the company’s stock.
Wendy’s (NASDAQ:WEN) opened at 10.62 on Thursday. Wendy’s has a one year low of $8.57 and a one year high of $11.38. The stock’s 50 day moving average is $10.39 and its 200 day moving average is $10.31. The firm has a market cap of $2.77 billion, a P/E ratio of 20.46 and a beta of 0.81.
Wendy’s (NASDAQ:WEN) last posted its earnings results on Wednesday, August 10th. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 earned $382.70 million during the quarter, compared to analyst estimates of $366.92 million. During the same period in the previous year, the company earned $0.08 EPS. The company’s revenue for the quarter was down 21.8% on a year-over-year basis. On average, equities research analysts expect that Wendy’s will post $0.40 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued 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 2.26%. Wendy’s’s dividend payout ratio (DPR) is presently 45.28%.
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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