Wendys Co (NASDAQ:WEN) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 12,300,000 shares, a decrease of 12.1% from the January 15th total of 13,990,000 shares. Approximately 5.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,526,900 shares, the days-to-cover ratio is currently 4.9 days.
WEN stock opened at $22.91 on Friday. Wendys has a 52-week low of $16.25 and a 52-week high of $23.01. The stock’s fifty day simple moving average is $22.00 and its 200-day simple moving average is $21.11. 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 stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 40.91, a price-to-earnings-growth ratio of 3.07 and a beta of 0.76.
In other Wendys news, CEO Todd Allan Penegor sold 283,733 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $21.34, for a total transaction of $6,054,862.22. Following the sale, the chief executive officer now owns 685,029 shares in the company, valued at approximately $14,618,518.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. 20.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of Wendys during the fourth quarter worth $25,000. Motco purchased a new position in shares of Wendys in the 4th quarter worth $31,000. Coastal Investment Advisors Inc. raised its position in shares of Wendys by 219.8% in the 4th quarter. Coastal Investment Advisors Inc. now owns 1,919 shares of the restaurant operator’s stock worth $40,000 after buying an additional 1,319 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Wendys by 512.1% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,085 shares of the restaurant operator’s stock worth $69,000 after buying an additional 2,581 shares during the period. Finally, Cribstone Capital Management LLC purchased a new position in shares of Wendys in the 3rd quarter worth $113,000. Institutional investors and hedge funds own 72.05% of the company’s stock.
A number of equities research analysts have commented on WEN shares. Longbow Research reiterated a “buy” rating and set a $25.00 target price on shares of Wendys in a report on Friday, December 13th. Wells Fargo & Co increased their target price on Wendys from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Morgan Stanley increased their target price on Wendys from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Royal Bank of Canada reiterated a “hold” rating and set a $22.00 target price on shares of Wendys in a report on Thursday, January 23rd. Finally, Telsey Advisory Group increased their target price on Wendys from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus 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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