The Wendy’s Company (NASDAQ:WEN) Short Interest Down 22.9% in June

The Wendy’s Company (NASDAQ:WEN) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 10,230,000 shares, a decrease of 22.9% from the May 31st total of 13,270,000 shares. Based on an average daily volume of 3,730,000 shares, the short-interest ratio is presently 2.7 days. Approximately 5.5% of the company’s shares are short sold.

Wendy’s Price Performance

NASDAQ WEN opened at $16.96 on Monday. The company has a debt-to-equity ratio of 11.21, a quick ratio of 2.02 and a current ratio of 2.04. The business’s fifty day moving average is $17.98 and its 200 day moving average is $18.59. The company has a market capitalization of $3.48 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Wendy’s has a fifty-two week low of $16.22 and a fifty-two week high of $22.42.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The firm had revenue of $534.80 million during the quarter, compared to analyst estimates of $540.84 million. Wendy’s had a return on equity of 62.68% and a net margin of 9.44%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share. Sell-side analysts predict that Wendy’s will post 1 earnings per share for the current year.

Wendy’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.90%. Wendy’s’s dividend payout ratio is currently 101.01%.

Insider Buying and Selling at Wendy’s

In related news, CMO Juan Carlos Loredo sold 44,806 shares of Wendy’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $19.50, for a total value of $873,717.00. Following the sale, the chief marketing officer now owns 27,586 shares in the company, valued at $537,927. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wendy’s

Large investors have recently bought and sold shares of the business. Highlander Capital Management LLC increased its holdings in shares of Wendy’s by 250.0% in the 4th quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock worth $27,000 after buying an additional 1,000 shares during the last quarter. Salomon & Ludwin LLC raised its position in Wendy’s by 378.0% during the first quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 1,240 shares during the period. Quarry LP bought a new stake in shares of Wendy’s in the 4th quarter valued at approximately $34,000. Bessemer Group Inc. increased its position in shares of Wendy’s by 483.2% during the 1st quarter. Bessemer Group Inc. now owns 1,872 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 1,551 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Wendy’s by 145.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,116 shares of the restaurant operator’s stock valued at $41,000 after buying an additional 1,255 shares during the period. Institutional investors own 85.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WEN. TD Cowen reaffirmed a “hold” rating and set a $19.00 target price on shares of Wendy’s in a research note on Thursday, June 13th. Piper Sandler increased their target price on Wendy’s from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Citigroup lifted their price target on Wendy’s from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. BMO Capital Markets increased their price objective on shares of Wendy’s from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Wendy’s from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.79.

About Wendy’s

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.