CIBC reaffirmed their outperform rating on shares of Yum China Holdings Inc (NASDAQ:YUMC) in a report published on Friday, October 6th. CIBC currently has a $45.00 price objective on the stock, up from their previous price objective of $43.00.
YUMC has been the topic of several other reports. Morgan Stanley boosted their target price on shares of Yum China Holdings from $35.00 to $41.00 and gave the stock an overweight rating in a research report on Monday, June 26th. Oppenheimer Holdings, Inc. boosted their price objective on shares of Yum China Holdings from $43.00 to $45.00 and gave the stock an outperform rating in a research report on Friday, October 6th. Zacks Investment Research downgraded shares of Yum China Holdings from a hold rating to a sell rating in a research note on Wednesday, September 6th. Deutsche Bank AG downgraded shares of Yum China Holdings from a buy rating to a hold rating and upped their price objective for the company from $34.72 to $36.61 in a research note on Thursday, July 6th. Finally, Bank of America Corporation reaffirmed a neutral rating and set a $41.60 price objective on shares of Yum China Holdings in a research note on Sunday, July 30th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $42.35.
Shares of Yum China Holdings (NASDAQ:YUMC) opened at 42.68 on Friday. The stock’s 50 day moving average is $39.65 and its 200 day moving average is $39.65. The company has a market capitalization of $16.40 billion and a P/E ratio of 31.38. Yum China Holdings has a 12 month low of $23.79 and a 12 month high of $43.55.
Yum China Holdings (NASDAQ:YUMC) last issued its earnings results on Thursday, October 5th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.04). The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Yum China Holdings had a return on equity of 16.35% and a net margin of 7.09%. Yum China Holdings’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, equities analysts predict that Yum China Holdings will post $1.41 EPS for the current fiscal year.
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The business also recently announced a special dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, November 30th will be given a $0.10 dividend. The ex-dividend date is Wednesday, November 29th.
Yum China Holdings declared that its Board of Directors has approved a share repurchase plan on Thursday, October 5th that allows the company to buyback $550.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other Yum China Holdings news, insider Angela Ai sold 17,678 shares of the firm’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $43.05, for a total transaction of $761,037.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Chu sold 22,184 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $37.72, for a total value of $836,780.48. Following the sale, the insider now owns 23,457 shares of the company’s stock, valued at $884,798.04. The disclosure for this sale can be found here. Insiders have sold 42,606 shares of company stock worth $1,708,901 over the last three months.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Yum China Holdings by 28.7% during the 2nd quarter. BlackRock Inc. now owns 27,306,495 shares of the company’s stock worth $1,076,695,000 after acquiring an additional 6,087,048 shares during the period. State Street Corp boosted its position in Yum China Holdings by 4.2% during the 2nd quarter. State Street Corp now owns 9,922,703 shares of the company’s stock worth $391,256,000 after acquiring an additional 396,628 shares during the period. Clearbridge Investments LLC boosted its position in Yum China Holdings by 13.8% during the 1st quarter. Clearbridge Investments LLC now owns 7,908,117 shares of the company’s stock worth $215,101,000 after acquiring an additional 956,175 shares during the period. FMR LLC boosted its position in Yum China Holdings by 7.4% during the 2nd quarter. FMR LLC now owns 6,576,492 shares of the company’s stock worth $259,311,000 after acquiring an additional 455,254 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in Yum China Holdings by 62.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,167,324 shares of the company’s stock worth $164,318,000 after acquiring an additional 1,605,418 shares during the period.
Yum China Holdings Company Profile
Yum China Holdings, Inc is a restaurant company. The Company’s segments include KFC, Pizza Hut Casual Dining, and All Other Segments, including Pizza Hut Home Service, East Dawning, Little Sheep and Taco Bell. As of December 31, 2016, the Company had over 7,500 restaurants in China. Its restaurant base consists of various restaurant concepts.
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