Westfield Capital Management Co. LP acquired a new position in shares of Yum China Holdings Inc (NYSE:YUMC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 884,346 shares of the company’s stock, valued at approximately $40,857,000. Westfield Capital Management Co. LP owned 0.23% of Yum China as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in YUMC. BlackRock Inc. increased its stake in shares of Yum China by 19.5% in the first quarter. BlackRock Inc. now owns 39,168,859 shares of the company’s stock valued at $1,759,077,000 after buying an additional 6,383,587 shares in the last quarter. OppenheimerFunds Inc. lifted its position in shares of Yum China by 83.4% during the first quarter. OppenheimerFunds Inc. now owns 17,160,157 shares of the company’s stock worth $770,663,000 after purchasing an additional 7,804,046 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Yum China by 20.0% during the second quarter. JPMorgan Chase & Co. now owns 12,968,619 shares of the company’s stock worth $597,595,000 after purchasing an additional 2,163,983 shares in the last quarter. Matthews International Capital Management LLC grew its stake in shares of Yum China by 9.1% during the second quarter. Matthews International Capital Management LLC now owns 5,491,810 shares of the company’s stock valued at $253,722,000 after purchasing an additional 458,200 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Yum China by 5.1% during the second quarter. Northern Trust Corp now owns 3,851,603 shares of the company’s stock valued at $177,944,000 after purchasing an additional 187,428 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research downgraded Yum China from a “strong-buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research report on Friday, July 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $51.65.
Yum China (NYSE:YUMC) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.09. Yum China had a net margin of 7.91% and a return on equity of 21.03%. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. Yum China’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Yum China Holdings Inc will post 1.71 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, August 27th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.04%. The ex-dividend date is Monday, August 26th. Yum China’s dividend payout ratio is presently 31.37%.
In other Yum China news, Director Muktesh Pant sold 88,184 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $45.76, for a total value of $4,035,299.84. Following the sale, the director now owns 403,163 shares of the company’s stock, valued at approximately $18,448,738.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Angela Ai sold 13,477 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $44.74, for a total transaction of $602,960.98. Following the completion of the sale, the insider now directly owns 28,445 shares in the company, valued at approximately $1,272,629.30. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.
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, 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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