Horizon Kinetics Lowers stake in Wendys Co (WEN)

Wendys Co (WEN) : Horizon Kinetics reduced its stake in Wendys Co by 12.32% during the most recent quarter end. The investment management company now holds a total of 13,525,970 shares of Wendys Co which is valued at $148,515,151 after selling 1,899,934 shares in Wendys Co , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.Wendys Co makes up approximately 3.89% of Horizon Kinetics’s portfolio.

Wendys Co closed down -0.18 points or -1.62% at $10.94 with 14,60,962 shares getting traded on Wednesday. Post opening the session at $11.13, the shares hit an intraday low of $10.92 and an intraday high of $11.15 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in WEN in the latest quarter, The investment management firm added 2,830 additional shares and now holds a total of 70,964 shares of Wendys Co which is valued at $779,185. Wendys Co makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.Skylands Capital boosted its stake in WEN in the latest quarter, The investment management firm added 69,600 additional shares and now holds a total of 120,550 shares of Wendys Co which is valued at $1,323,639. Wendys Co makes up approx 0.21% of Skylands Capital’s portfolio.Blue Bell Private Wealth Management boosted its stake in WEN in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 3,500 shares of Wendys Co which is valued at $38,430. Wendys Co makes up approx 0.03% of Blue Bell Private Wealth Management’s portfolio.

On the company’s financial health, Wendys Co reported $0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 9, 2016. Analyst had a consensus of $0.11. The company had revenue of $464.40 million for the quarter, compared to analysts expectations of $455.91 million. The company’s revenue was down -4.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Wendys Co. Longbow Initiated Wendys Co on Mar 18, 2016 to “Buy”, Price Target of the shares are set at $13.Shares were Reiterated by UBS on Feb 16, 2016 to “Sell” and Lowered the Price Target to $ 9 from a previous price target of $9.50 .Wendys Co was Downgraded by JP Morgan to ” Neutral” on Feb 11, 2016.

The Wendy’s Company is the parent company of its wholly owned subsidiary holding company Wendy’s Restaurants LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International LLC (Wendy’s) which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is the quick-service restaurant company in the hamburger sandwich segment. Wendy’s is primarily engaged in the business of operating developing and franchising a system of distinctive quick-service restaurants serving food. Wendy’s Restaurants is the parent company of Wendy’s International LLC (Wendy’s) which is the owner and franchisor of the Wendy’s restaurant system in the United States.

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