Morgan Stanley reaffirmed their overweight rating on shares of Yum China Holdings Inc (NASDAQ:YUMC) in a research note published on Monday morning. Morgan Stanley currently has a $45.00 price objective on the stock.
YUMC has been the subject of several other research reports. Oppenheimer Holdings, Inc. upped their price target on Yum China Holdings from $43.00 to $45.00 and gave the stock an outperform rating in a research note on Friday, October 6th. Deutsche Bank AG upgraded Yum China Holdings from a hold rating to a buy rating and set a $45.30 price target for the company in a research note on Friday, October 6th. Zacks Investment Research cut Yum China Holdings from a hold rating to a sell rating in a research note on Wednesday, September 6th. Bank of America Corporation reiterated a neutral rating and issued a $41.60 price objective on shares of Yum China Holdings in a research report on Sunday, July 30th. Finally, Citigroup Inc. initiated coverage on Yum China Holdings in a research report on Monday, September 18th. They issued a buy rating and a $51.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $42.35.
Yum China Holdings (NASDAQ:YUMC) last released its quarterly earnings results on Thursday, October 5th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.04). Yum China Holdings had a return on equity of 16.35% and a net margin of 7.09%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the company earned $0.52 EPS. Yum China Holdings’s revenue for the quarter was up 8.2% compared to the same quarter last year.
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The company also recently announced a special dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, November 30th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, November 29th.
Yum China Holdings announced that its board has authorized a stock buyback plan on Thursday, October 5th that permits the company to repurchase $550.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
In other Yum China Holdings news, insider Danny Tan sold 2,124 shares of the company’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $41.84, for a total value of $88,868.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Chu sold 22,184 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $37.72, for a total value of $836,780.48. Following the completion of the sale, the insider now directly owns 23,457 shares in the company, valued at approximately $884,798.04. The disclosure for this sale can be found here. Insiders sold 24,928 shares of company stock worth $947,863 in the last three months.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Yum China Holdings by 28.7% during the second quarter. BlackRock Inc. now owns 27,306,495 shares of the company’s stock valued at $1,076,695,000 after acquiring an additional 6,087,048 shares during the last quarter. Comerica Securities Inc. acquired a new stake in shares of Yum China Holdings during the second quarter valued at $251,000. Ameriprise Financial Inc. boosted its stake in shares of Yum China Holdings by 40.9% during the second quarter. Ameriprise Financial Inc. now owns 3,514,169 shares of the company’s stock valued at $138,564,000 after acquiring an additional 1,020,928 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Yum China Holdings by 17.7% during the second quarter. Commonwealth Bank of Australia now owns 29,956 shares of the company’s stock valued at $1,180,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Yum China Holdings by 10.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,865 shares of the company’s stock valued at $350,000 after acquiring an additional 845 shares during the last quarter.
About Yum China Holdings
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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