Today: Today, Wendy’s Co. (WEN) Sees Significant Increase in Short Interest

Today, Wendy’s Co. (WEN) Sees Significant Increase in Short Interest

Wendy’s Co. (NASDAQ:WEN) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 38,578,538 shares, an increase of 20.9% from the October 31st total of 31,921,203 shares. Based on an average daily volume of 5,295,740 shares, the days-to-cover ratio is currently 7.3 days. Currently, 15.8% of the shares of the stock are short sold.

A number of large investors have recently modified their holdings of the company. Seven Eight Capital LLC bought a new stake in shares of Wendy’s during the second quarter valued at approximately $102,000. Stephens Inc. AR raised its stake in shares of Wendy’s by 8.9% in the second quarter. Stephens Inc. AR now owns 12,525 shares of the company’s stock valued at $120,000 after buying an additional 1,025 shares during the last quarter. Laurion Capital Management LP bought a new stake in shares of Wendy’s during the third quarter valued at approximately $122,000. LS Investment Advisors LLC raised its stake in shares of Wendy’s by 67.1% in the second quarter. LS Investment Advisors LLC now owns 13,324 shares of the company’s stock valued at $128,000 after buying an additional 5,350 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Wendy’s by 31.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,805 shares of the company’s stock valued at $133,000 after buying an additional 3,321 shares during the last quarter. 81.84% of the stock is owned by institutional investors.

Shares of Wendy’s (NASDAQ:WEN) opened at 12.99 on Friday. Wendy’s has a 52 week low of $8.89 and a 52 week high of $13.13. The stock has a 50 day moving average of $11.26 and a 200 day moving average of $10.40. The stock has a market cap of $3.34 billion, a P/E ratio of 18.88 and a beta of 0.79.

Wendy’s (NASDAQ:WEN) last posted its earnings results on Wednesday, November 9th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm earned $364 million during 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 business’s quarterly revenue was down 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. On average, analysts expect that Wendy’s will post $0.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, November 29th. This is a positive change from Wendy’s’s previous quarterly dividend of $0.06. Wendy’s’s payout ratio is presently 35.29%.

A number of research firms have weighed in on WEN. Goldman Sachs Group Inc. lowered shares of Wendy’s from a “conviction-buy” rating to a “buy” rating and dropped their price target for the stock from $12.50 to $11.00 in a research report on Thursday, August 11th. Vetr upgraded shares of Wendy’s from a “sell” rating to a “buy” rating and set a $12.62 price target for the company in a research report on Wednesday, November 16th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $11.50 price target on shares of Wendy’s in a research report on Thursday, November 10th. Stifel Nicolaus lowered shares of Wendy’s from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $12.00 to $11.00 in a research report on Tuesday, August 2nd. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $11.00 price target on shares of Wendy’s in a research report on Friday, November 11th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Wendy’s presently has a consensus rating of “Buy” and a consensus target price of $12.05.

Wendy’s Company Profile

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