Yum China Holdings Inc (YUMC) Shares Bought by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD boosted its position in Yum China Holdings Inc (NYSE:YUMC) by 9.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,134 shares of the company’s stock after buying an additional 12,118 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Yum China were worth $5,060,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Legacy Advisors LLC increased its position in Yum China by 660.8% in the 2nd quarter. Legacy Advisors LLC now owns 3,043 shares of the company’s stock valued at $117,000 after buying an additional 2,643 shares in the last quarter. Amussen Hunsaker Associates LLC bought a new stake in Yum China during the 2nd quarter worth approximately $130,000. Capital Investment Advisors LLC bought a new stake in Yum China during the 2nd quarter worth approximately $140,000. Altium Wealth Management LLC bought a new stake in Yum China during the 1st quarter worth approximately $206,000. Finally, Cerebellum GP LLC bought a new stake in Yum China during the 3rd quarter worth approximately $197,000. 82.63% of the stock is owned by institutional investors and hedge funds.
YUMC has been the subject of a number of recent research reports. Zacks Investment Research lowered Yum China from a “hold” rating to a “sell” rating in a report on Sunday, July 8th. UBS Group lowered Yum China from an “outperform” rating to a “market perform” rating in a report on Friday, August 17th. Bank of America lowered Yum China from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $44.30 to $34.00 in a report on Thursday, July 19th. Oppenheimer decreased their price objective on Yum China from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, August 2nd. Finally, Macquarie lowered Yum China from an “outperform” rating to a “neutral” rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $42.50.
Yum China (NYSE:YUMC) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.10 billion. Yum China had a return on equity of 20.94% and a net margin of 6.45%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. Analysts expect that Yum China Holdings Inc will post 1.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Wednesday, August 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Tuesday, August 28th. Yum China’s dividend payout ratio is presently 28.17%.
In other news, insider Angela Ai sold 4,529 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $38.25, for a total value of $173,234.25. Following the completion of the transaction, the insider now directly owns 9,000 shares of the company’s stock, valued at $344,250. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate 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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