Highbridge Capital Management LLC purchased a new stake in shares of Yum China Holdings Inc (NYSE:YUMC) in the 3rd quarter, HoldingsChannel reports. The fund purchased 41,500 shares of the company’s stock, valued at approximately $1,457,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in YUMC. Pinebridge Investments L.P. increased its holdings in Yum China by 79.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 71,889 shares of the company’s stock worth $2,765,000 after acquiring an additional 31,766 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in Yum China by 11.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 40,333 shares of the company’s stock worth $1,545,000 after acquiring an additional 4,190 shares in the last quarter. Comerica Bank increased its holdings in Yum China by 9.0% in the 2nd quarter. Comerica Bank now owns 32,920 shares of the company’s stock worth $1,206,000 after acquiring an additional 2,709 shares in the last quarter. Bridgewater Associates LP purchased a new stake in Yum China in the 2nd quarter worth approximately $1,623,000. Finally, Great West Life Assurance Co. Can increased its holdings in Yum China by 4.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 318,438 shares of the company’s stock worth $12,253,000 after acquiring an additional 14,800 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.
Shares of YUMC opened at $34.98 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.72 and a debt-to-equity ratio of 0.01. Yum China Holdings Inc has a 1 year low of $30.10 and a 1 year high of $48.75. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.63 and a beta of 0.55.
Yum China (NYSE:YUMC) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Yum China had a net margin of 6.23% and a return on equity of 20.73%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm posted $0.52 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Analysts forecast that Yum China Holdings Inc will post 1.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Tuesday, November 27th will be issued a dividend of $0.12 per share. This is a positive change from Yum China’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Monday, November 26th. Yum China’s dividend payout ratio (DPR) is 33.80%.
Several research firms recently issued reports on YUMC. Zacks Investment Research lowered shares of Yum China from a “hold” rating to a “sell” rating in a report on Thursday, October 25th. UBS Group lowered shares of Yum China from an “outperform” rating to a “market perform” rating in a report on Friday, August 17th. Bank of America raised shares of Yum China from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $34.00 to $35.00 in a report on Wednesday, October 31st. Finally, Oppenheimer lowered shares of Yum China from an “outperform” rating to a “market perform” rating and set a $33.00 price objective for the company. in a report on Friday, August 17th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $42.75.
In other Yum China news, insider Riu Sun sold 8,405 shares of the stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $36.50, for a total transaction of $306,782.50. Following the completion of the sale, the insider now directly owns 9,942 shares of the company’s stock, valued at approximately $362,883. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ted Lee sold 3,795 shares of the stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $36.26, for a total value of $137,606.70. Following the transaction, the insider now owns 1,863 shares of the company’s stock, valued at $67,552.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,591 shares of company stock valued at $756,954. Insiders own 0.37% of the company’s stock.
About Yum China
Yum China Holdings, Inc owns, operates, and franchises restaurants in China. The company operates in two segments, KFC and Pizza Hut. It operates restaurants under the KFC, Pizza Hut, Taco Bell, East Dawning, and Little Sheep brands, which specialize in chicken, pizza, hot pot cooking, Chinese food, and Mexican-style food categories.
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