Yum China (YUMC) Shares Gap Down to $35.33
Yum China Holdings Inc (NYSE:YUMC) shares gapped down before the market opened on Friday . The stock had previously closed at $36.37, but opened at $35.33. Yum China shares last traded at $34.86, with a volume of 2570075 shares.
Several brokerages recently issued reports on YUMC. UBS Group lowered shares of Yum China from an “outperform” rating to a “market perform” rating in a research note on Friday. Oppenheimer lowered shares of Yum China from an “outperform” rating to a “market perform” rating and set a $33.00 target price on the stock. in a research note on Friday. Zacks Investment Research upgraded shares of Yum China from a “sell” rating to a “hold” rating in a report on Saturday, May 5th. Macquarie downgraded shares of Yum China from an “outperform” rating to a “neutral” rating in a report on Thursday, August 2nd. Finally, Bank of America downgraded shares of Yum China from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $44.30 to $34.00 in a report on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.06.
The company has a current ratio of 1.74, a quick ratio of 1.51 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 1.59 and a beta of 0.92.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, August 29th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 28th. This represents a $0.40 annualized dividend and a yield of 1.15%. Yum China’s payout ratio is 28.17%.
In other news, CEO Joey Wat bought 24,400 shares of the stock in a transaction dated Thursday, June 7th. The stock was bought at an average price of $40.97 per share, for a total transaction of $999,668.00. Following the completion of the acquisition, the chief executive officer now directly owns 21,991 shares in the company, valued at approximately $900,971.27. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aiken Yuen sold 1,805 shares of the stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $38.96, for a total transaction of $70,322.80. Following the completion of the sale, the insider now owns 2,337 shares of the company’s stock, valued at approximately $91,049.52. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.
Several hedge funds have recently made changes to their positions in YUMC. Vontobel Asset Management Inc. purchased a new stake in shares of Yum China in the second quarter valued at about $230,185,000. Genesis Asset Managers LLP purchased a new stake in shares of Yum China in the second quarter valued at about $200,754,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Yum China by 32.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 18,374,776 shares of the company’s stock valued at $706,693,000 after purchasing an additional 4,475,130 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in shares of Yum China by 125.2% in the second quarter. OppenheimerFunds Inc. now owns 6,750,611 shares of the company’s stock valued at $259,628,000 after purchasing an additional 3,753,093 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Yum China by 58.5% in the first quarter. JPMorgan Chase & Co. now owns 7,824,856 shares of the company’s stock valued at $324,733,000 after purchasing an additional 2,888,912 shares during the last quarter. Institutional investors own 83.52% of the company’s stock.
Yum China Company Profile (NYSE:YUMC)
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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