Fort Pitt Capital Group buys $13,203,908 stake in Wendys Co (WEN)

Wendys Co (WEN) : Fort Pitt Capital Group scooped up 77,157 additional shares in Wendys Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 1,389,885 shares of Wendys Co which is valued at $13,203,908.Wendys Co makes up approximately 1.57% of Fort Pitt Capital Group’s portfolio.

Other Hedge Funds, Including , Gemmer Asset Management boosted its stake in WEN in the latest quarter, The investment management firm added 98 additional shares and now holds a total of 312 shares of Wendys Co which is valued at $3,126.Gateway Investment Advisers reduced its stake in WEN by selling 282,246 shares or 25.7% in the most recent quarter. The Hedge Fund company now holds 815,860 shares of WEN which is valued at $7,946,476. Wendys Co makes up approx 0.07% of Gateway Investment Advisers’s portfolio.

Wendys Co opened for trading at $9.48 and hit $9.75 on the upside on Thursday, eventually ending the session at $9.7, with a gain of 2.11% or 0.2 points. The heightened volatility saw the trading volume jump to 43,39,247 shares. Company has a market cap of $2,585 M.

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.

Many Wall Street Analysts have commented on Wendys Co. Shares were Downgraded by RBC Capital Mkts on Aug 2, 2016 to ” Sector Perform” and Lowered the Price Target to $ 11 from a previous price target of $12 .Wendys Co was Downgraded by Nomura to ” Neutral” on Jun 22, 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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