The Wendy’s Company (NASDAQ:WEN) Short Interest Down 19.5% in March

The Wendy’s Company (NASDAQ:WEN) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 13,590,000 shares, a decline of 19.5% from the February 28th total of 16,890,000 shares. Currently, 7.5% of the company’s shares are short sold. Based on an average daily trading volume, of 5,150,000 shares, the days-to-cover ratio is currently 2.6 days.

Wendy’s Trading Down 2.5 %

WEN stock opened at $14.63 on Monday. The firm has a market cap of $2.93 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 2.00 and a beta of 0.73. The firm has a fifty day moving average price of $14.97 and a 200 day moving average price of $16.76. The company has a debt-to-equity ratio of 12.48, a quick ratio of 1.83 and a current ratio of 1.85. Wendy’s has a fifty-two week low of $13.72 and a fifty-two week high of $20.65.

Wendy’s (NASDAQ:WEN) last announced its earnings results on Thursday, February 13th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $574.27 million for the quarter, compared to analysts’ expectations of $564.17 million. Wendy’s had a net margin of 8.65% and a return on equity of 75.56%. Sell-side analysts anticipate that Wendy’s will post 0.99 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 6.84%. Wendy’s’s dividend payout ratio (DPR) is presently 105.26%.

Institutional Investors Weigh In On Wendy’s

A number of institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. raised its stake in shares of Wendy’s by 670.3% during the fourth quarter. Blue Trust Inc. now owns 1,402 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 1,220 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Wendy’s during the 4th quarter valued at $30,000. Colonial Trust Co SC purchased a new stake in shares of Wendy’s in the 4th quarter worth $31,000. GAMMA Investing LLC grew its position in shares of Wendy’s by 168.1% during the 4th quarter. GAMMA Investing LLC now owns 2,233 shares of the restaurant operator’s stock worth $36,000 after buying an additional 1,400 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Wendy’s during the fourth quarter valued at $46,000. 85.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Wendy’s in a report on Wednesday, February 26th. Truist Financial decreased their price target on shares of Wendy’s from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, February 14th. TD Securities reissued a “hold” rating and set a $16.00 price objective on shares of Wendy’s in a research note on Friday, March 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 target price on shares of Wendy’s in a research note on Tuesday, March 4th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $14.00 price target (down from $22.00) on shares of Wendy’s in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.08.

About Wendy’s

The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy’s U.S., Wendy’s International, and Global Real Estate and Development. The Wendy’s U.S. segment includes the operation and franchising of Wendy’s restaurants in the U.S.