Westpac Banking Corp reduced its holdings in shares of Yum China Holdings, Inc. (NYSE:YUMC) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 153,776 shares of the company’s stock after selling 4,330 shares during the period. Westpac Banking Corp’s holdings in Yum China were worth $8,142,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in YUMC. Old North State Trust LLC purchased a new stake in Yum China during the third quarter valued at approximately $26,000. Biltmore Capital Advisors LLC purchased a new stake in shares of Yum China in the third quarter worth $29,000. Barrett Asset Management LLC purchased a new stake in shares of Yum China in the second quarter worth $31,000. Newfound Research LLC purchased a new stake in shares of Yum China in the third quarter worth $33,000. Finally, American Beacon Advisors Inc. purchased a new stake in shares of Yum China in the second quarter worth $35,000. 81.59% of the stock is owned by institutional investors and hedge funds.
In other Yum China news, insider Aiken Yuen sold 2,015 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $57.91, for a total transaction of $116,688.65. Following the completion of the transaction, the insider now owns 2,713 shares in the company, valued at $157,109.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Danny Tan sold 5,238 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $58.30, for a total transaction of $305,375.40. Following the transaction, the insider now owns 31,699 shares of the company’s stock, valued at approximately $1,848,051.70. The disclosure for this sale can be found here. 0.45% of the stock is owned by company insiders.
Yum China (NYSE:YUMC) last issued its earnings results on Wednesday, October 28th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.20. Yum China had a net margin of 6.33% and a return on equity of 16.35%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.26 billion. As a group, research analysts predict that Yum China Holdings, Inc. will post 1.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 25th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 24th. This represents a $0.48 annualized dividend and a yield of 0.80%. Yum China’s dividend payout ratio (DPR) is currently 12.77%.
A number of analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of Yum China in a research note on Thursday, October 29th. They issued an “outperform” rating for the company. The Goldman Sachs Group assumed coverage on shares of Yum China in a research note on Thursday, September 10th. They issued a “conviction-buy” rating for the company. Jefferies Financial Group increased their price objective on shares of Yum China from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. CLSA began coverage on shares of Yum China in a research note on Thursday, August 6th. They issued a “buy” rating and a $63.00 price objective for the company. Finally, Tigress Financial restated a “buy” rating on shares of Yum China in a research report on Wednesday, August 12th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $53.81.
Yum China Company Profile
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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