King Wealth Management Group Lowers stake in Wendys Co (WEN)

Wendys Co (WEN) : King Wealth Management Group reduced its stake in Wendys Co by 0.75% during the most recent quarter end. The investment management company now holds a total of 90,187 shares of Wendys Co which is valued at $943,356 after selling 685 shares in Wendys Co , the firm said in a disclosure report filed with the SEC on May 12, 2016.Wendys Co makes up approximately 0.51% of King Wealth Management Group’s portfolio.

Other Hedge Funds, Including , Thrivent Financial For Lutherans boosted its stake in WEN in the latest quarter, The investment management firm added 2,810 additional shares and now holds a total of 27,944 shares of Wendys Co which is valued at $292,294.State Of Wisconsin Investment Board reduced its stake in WEN by selling 6,020 shares or 4.07% in the most recent quarter. The Hedge Fund company now holds 141,888 shares of WEN which is valued at $1.6 Million. Wendys Co makes up approx 0.01% of State Of Wisconsin Investment Board’s portfolio.Wellington Shields Capital Management boosted its stake in WEN in the latest quarter, The investment management firm added 1,513 additional shares and now holds a total of 58,921 shares of Wendys Co which is valued at $646,363. Wendys Co makes up approx 0.11% of Wellington Shields Capital Management’s portfolio.

Wendys Co closed down -0.04 points or -0.39% at $10.17 with 26,75,173 shares getting traded on Friday. Post opening the session at $10.24, the shares hit an intraday low of $10.13 and an intraday high of $10.28 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Wendys Co reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 11, 2016. Analyst had a consensus of $0.06. The company had revenue of $378.80 million for the quarter, compared to analysts expectations of $350.46 million. The company’s revenue was down -16.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.06 EPS.

Investors should note that on May 11, 2016, Wendys Co announced a cash dividend of $0.0600. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 15, 2016.

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 .

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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