Wendys Co (NASDAQ:WEN) Short Interest Down 12.1% in January

Wendys Co (NASDAQ:WEN) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 12,300,000 shares, a drop of 12.1% from the January 15th total of 13,990,000 shares. Approximately 5.8% of the company’s stock are short sold. Based on an average daily volume of 2,526,900 shares, the short-interest ratio is presently 4.9 days.

In related news, CEO Todd Allan Penegor sold 283,733 shares of Wendys stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $21.34, for a total value of $6,054,862.22. Following the completion of the transaction, the chief executive officer now directly owns 685,029 shares in the company, valued at $14,618,518.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.90% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Wendys by 1.3% in the 2nd quarter. BlackRock Inc. now owns 16,840,359 shares of the restaurant operator’s stock valued at $329,735,000 after purchasing an additional 211,285 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Wendys in the 3rd quarter valued at about $384,000. CIBC Private Wealth Group LLC boosted its position in shares of Wendys by 134.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 37,803 shares of the restaurant operator’s stock valued at $755,000 after purchasing an additional 21,667 shares during the period. Wedbush Securities Inc. boosted its position in shares of Wendys by 18.2% in the 3rd quarter. Wedbush Securities Inc. now owns 13,522 shares of the restaurant operator’s stock valued at $270,000 after purchasing an additional 2,078 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Wendys in the 3rd quarter valued at about $685,000. Institutional investors own 72.05% of the company’s stock.

Shares of WEN stock opened at $22.91 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.00 and a debt-to-equity ratio of 5.62. The business has a 50 day moving average of $22.00 and a two-hundred day moving average of $21.11. Wendys has a 52 week low of $16.25 and a 52 week high of $23.01. The company has a market cap of $5.27 billion, a P/E ratio of 40.91, a PEG ratio of 3.07 and a beta of 0.76.

WEN has been the subject of a number of research reports. BidaskClub upgraded Wendys from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated a “hold” rating and issued a $22.00 price target on shares of Wendys in a research note on Thursday, January 23rd. Wells Fargo & Co lifted their price target on Wendys from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Longbow Research reiterated a “buy” rating and issued a $25.00 price target on shares of Wendys in a research note on Friday, December 13th. Finally, Stifel Nicolaus upgraded Wendys from a “hold” rating to a “buy” rating and lifted their price target for the stock from $22.00 to $25.00 in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $22.07.

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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