New York State Common Retirement Fund lifted its position in Yum China Holdings Inc (NYSE:YUMC) by 8.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 791,500 shares of the company’s stock after acquiring an additional 62,500 shares during the period. New York State Common Retirement Fund’s holdings in Yum China were worth $35,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Paragon Capital Management LLC purchased a new stake in Yum China in the first quarter valued at $26,000. Doyle Wealth Management purchased a new stake in Yum China in the fourth quarter valued at $28,000. Baldwin Brothers Inc. MA purchased a new stake in Yum China in the first quarter valued at $28,000. Intercontinental Wealth Advisors LLC purchased a new stake in Yum China in the fourth quarter valued at $34,000. Finally, AdvisorNet Financial Inc boosted its holdings in Yum China by 49.7% in the fourth quarter. AdvisorNet Financial Inc now owns 1,048 shares of the company’s stock valued at $35,000 after purchasing an additional 348 shares during the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.
YUMC has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Yum China from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. OTR Global raised shares of Yum China to a “positive” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on shares of Yum China from $36.50 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Goldman Sachs Group raised shares of Yum China from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $54.00 in a research note on Wednesday, April 17th. Finally, Bank of America raised shares of Yum China from a “neutral” rating to a “buy” rating and set a $47.20 target price on the stock in a research note on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $47.88.
Yum China (NYSE:YUMC) last released its quarterly earnings results on Monday, April 29th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. Yum China had a net margin of 7.55% and a return on equity of 20.36%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, sell-side analysts expect that Yum China Holdings Inc will post 1.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, May 28th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $0.48 annualized dividend and a dividend yield of 1.25%. Yum China’s dividend payout ratio (DPR) is presently 31.37%.
In related news, insider Alice H. Wang sold 1,697 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $46.09, for a total transaction of $78,214.73. Following the completion of the transaction, the insider now owns 10,120 shares in the company, valued at approximately $466,430.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jacky Wei-Jye Lo sold 1,724 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $45.00, for a total transaction of $77,580.00. Following the transaction, the chief financial officer now owns 9,008 shares of the company’s stock, valued at approximately $405,360. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,190 shares of company stock valued at $1,412,132. Insiders own 0.44% of the company’s stock.
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Yum China Profile
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, Little Sheep, and COFFii & JOY brands, which specialize in chicken, pizza, hot pot cooking, Chinese food, Mexican-style food, and coffee categories.
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