Wendy’s Co. (NASDAQ:WEN) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 36,132,562 shares, an increase of 20.8% from the August 15th total of 29,915,347 shares. Based on an average daily volume of 3,436,698 shares, the days-to-cover ratio is presently 10.5 days. Approximately 14.8% of the shares of the stock are sold short.
Institutional investors have recently bought and sold shares of the company. Eminence Capital LP acquired a new position in Wendy’s during the second quarter worth $55,854,000. Norges Bank acquired a new position in Wendy’s during the fourth quarter worth $23,049,000. Renaissance Technologies LLC raised its position in 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 last quarter. 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 last quarter. Finally, Clinton Group Inc. acquired a new position in Wendy’s during the second quarter worth $8,602,000. Hedge funds and other institutional investors own 81.02% of the company’s stock.
Several brokerages have recently issued reports on WEN. RBC Capital Markets cut shares of Wendy’s from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $12.00 to $11.00 in a research report on Tuesday, August 2nd. Sanford C. Bernstein began coverage on shares of Wendy’s in a research report on Thursday, May 26th. They set a “market perform” rating on the stock. Zacks Investment Research cut shares of Wendy’s from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Royal Bank Of Canada cut shares of Wendy’s from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $12.00 to $11.00 in a research report on Tuesday, August 2nd. Finally, Vetr cut shares of Wendy’s from a “strong-buy” rating to a “buy” rating and set a $11.21 target price on the stock. in a research report on Monday, August 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.69.
Wendy’s (NASDAQ:WEN) opened at 10.59 on Wednesday. The firm has a 50-day moving average of $10.14 and a 200-day moving average of $10.24. Wendy’s has a 52 week low of $8.43 and a 52 week high of $11.38. The company has a market capitalization of $2.77 billion, a P/E ratio of 20.40 and a beta of 0.83.
Wendy’s (NASDAQ:WEN) last announced its earnings results on Wednesday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Wendy’s had a net margin of 8.59% and a return on equity of 15.94%. The business had revenue of $382.70 million for the quarter, compared to analyst estimates of $366.92 million. During the same quarter last year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was down 21.8% compared to the same quarter last year. Analysts anticipate that Wendy’s will post $0.40 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 2.27%. Wendy’s’s payout ratio is presently 45.28%.
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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