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

Wendys Co (WEN) : King Wealth Management Group reduced its stake in Wendys Co by 0.31% during the most recent quarter end. The investment management company now holds a total of 89,906 shares of Wendys Co which is valued at $897,262 after selling 281 shares in Wendys Co , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Wendys Co makes up approximately 0.46% of King Wealth Management Group’s portfolio.

Other Hedge Funds, Including , Liberty Mutual Group Asset Management boosted its stake in WEN in the latest quarter, The investment management firm added 8,159 additional shares and now holds a total of 94,974 shares of Wendys Co which is valued at $947,841. Wendys Co makes up approx 0.03% of Liberty Mutual Group Asset Management’s portfolio.Reilly Financial Advisors boosted its stake in WEN in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 320 shares of Wendys Co which is valued at $3,040.Diam Ltd. boosted its stake in WEN in the latest quarter, The investment management firm added 39,950 additional shares and now holds a total of 349,950 shares of Wendys Co which is valued at $3,324,525. Wendys Co makes up approx 0.05% of Diam Ltd.’s portfolio.Parkwood reduced its stake in WEN by selling 8,673 shares or 14.75% in the most recent quarter. The Hedge Fund company now holds 50,134 shares of WEN which is valued at $502,343. Wendys Co makes up approx 0.08% of Parkwood’s portfolio.

Wendys Co opened for trading at $9.88 and hit $10.095 on the upside on Monday, eventually ending the session at $10.03, with a gain of 1.31% or 0.13 points. The heightened volatility saw the trading volume jump to 42,43,545 shares. Company has a market cap of $2,620 M.

On the company’s financial health, Wendys Co reported $0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 10, 2016. Analyst had a consensus of $0.09. The company had revenue of $382.70 million for the quarter, compared to analysts expectations of $366.92 million. The company’s revenue was down -21.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 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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