Wendys Co (NASDAQ:WEN) Short Interest Up 6.5% in June

Wendys Co (NASDAQ:WEN) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 16,280,800 shares, a growth of 6.5% from the May 15th total of 15,284,000 shares. Approximately 7.7% of the shares of the company are short sold. Based on an average daily volume of 2,890,000 shares, the days-to-cover ratio is presently 5.6 days.

WEN stock traded down $0.14 during trading hours on Friday, reaching $19.16. 1,747,423 shares of the stock were exchanged, compared to its average volume of 1,890,064. The firm’s 50-day simple moving average is $19.39. The company has a market cap of $4.42 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 2.11 and a beta of 0.74. The company has a debt-to-equity ratio of 5.80, a quick ratio of 2.04 and a current ratio of 2.05. Wendys has a 12 month low of $14.96 and a 12 month high of $20.14.

Wendys (NASDAQ:WEN) last announced its quarterly earnings data on Wednesday, May 8th. The restaurant operator reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The company had revenue of $408.60 million during the quarter, compared to analysts’ expectations of $398.58 million. Wendys had a return on equity of 23.85% and a net margin of 29.16%. Wendys’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. Equities analysts expect that Wendys will post 0.63 earnings per share for the current year.

A number of research analysts have commented on WEN shares. Evercore ISI started coverage on LYFT in a research note on Wednesday, June 12th. They issued an “outperform” rating and a $74.00 target price on the stock. Cowen restated a “buy” rating and issued a $49.00 target price on shares of Greenbrier Companies in a research note on Wednesday, April 10th. Bank of America restated a “hold” rating on shares of TELUS in a research note on Friday, May 10th. BMO Capital Markets boosted their price target on goeasy from C$55.00 to C$60.00 in a research report on Thursday, May 9th. Finally, Piper Jaffray Companies boosted their price target on Boot Barn from $33.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Wendys has an average rating of “Buy” and an average target price of $20.33.

In other news, COO Robert D. Wright sold 454,793 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $18.60, for a total value of $8,459,149.80. Following the sale, the chief operating officer now owns 237,425 shares of the company’s stock, valued at approximately $4,416,105. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert D. Wright sold 126,629 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $18.74, for a total value of $2,373,027.46. The disclosure for this sale can be found here. Insiders have sold a total of 690,532 shares of company stock valued at $12,859,441 in the last 90 days. Insiders own 20.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of WEN. O Shaughnessy Asset Management LLC acquired a new stake in Wendys during the first quarter worth approximately $58,000. Carroll Financial Associates Inc. lifted its position in Wendys by 226.6% during the second quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock worth $75,000 after acquiring an additional 2,658 shares during the last quarter. Clarfeld Financial Advisors LLC acquired a new stake in Wendys during the fourth quarter worth approximately $94,000. Citizens Financial Group Inc RI acquired a new stake in Wendys during the first quarter worth approximately $107,000. Finally, Valeo Financial Advisors LLC lifted its position in Wendys by 42.4% during the first quarter. Valeo Financial Advisors LLC now owns 9,829 shares of the restaurant operator’s stock worth $176,000 after acquiring an additional 2,929 shares during the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.

Wendys Company Profile

The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.

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