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 $134,989,181 after selling 1,899,934 shares in Wendys Co , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Wendys Co makes up approximately 3.20% of Horizon Kinetics’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in WEN in the latest quarter, The investment management firm added 3,409 additional shares and now holds a total of 292,461 shares of Wendys Co which is valued at $2,918,761. Marshall Wace Llp sold out all of its stake in WEN during the most recent quarter. The investment firm sold 90,208 shares of WEN which is valued $900,276.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in WEN in the latest quarter, The investment management firm added 1,931 additional shares and now holds a total of 41,040 shares of Wendys Co which is valued at $409,579. Wendys Co makes up approx 0.01% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio. Cipher Capital Lp added WEN to its portfolio by purchasing 10,308 company shares during the most recent quarter which is valued at $102,874. Wendys Co makes up approx 0.01% of Cipher Capital Lp’s portfolio.

Wendys Co closed down -0.13 points or -1.28% at $10.06 with 20,79,093 shares getting traded on Thursday. Post opening the session at $10.16, the shares hit an intraday low of $10.045 and an intraday high of $10.215 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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