Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA – Get Free Report) traded up 9.3% during trading on Friday after the company announced a dividend. The company traded as high as $15.40 and last traded at $15.4450. 449,004 shares changed hands during trading, a decline of 60% from the average session volume of 1,123,022 shares. The stock had previously closed at $14.13.
The newly announced dividend which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.92 dividend. The ex-dividend date is Monday, December 8th.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Macquarie assumed coverage on Chagee in a research report on Friday, September 5th. They set a “neutral” rating and a $19.00 price target on the stock. Wall Street Zen lowered shares of Chagee from a “buy” rating to a “hold” rating in a research note on Sunday, September 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a research report on Tuesday. Finally, JPMorgan Chase & Co. assumed coverage on shares of Chagee in a report on Friday, November 14th. They issued an “underweight” rating and a $14.20 price target for the company. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Chagee has an average rating of “Hold” and an average price target of $32.73.
Chagee Stock Up 5.8%
The stock has a market cap of $2.74 billion and a price-to-earnings ratio of 25.34. The business has a fifty day moving average price of $15.76.
Chagee (NASDAQ:CHA – Get Free Report) last issued its quarterly earnings data on Friday, November 28th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The firm had revenue of $450.67 million for the quarter, compared to analysts’ expectations of $458.31 million.
Institutional Trading of Chagee
Several hedge funds and other institutional investors have recently made changes to their positions in the business. LBP AM SA purchased a new position in Chagee during the 2nd quarter worth $1,619,000. Matthews International Capital Management LLC purchased a new stake in Chagee in the second quarter valued at about $1,401,000. Franchise Capital Ltd acquired a new stake in Chagee in the second quarter worth about $4,111,000. Allianz Asset Management GmbH purchased a new stake in shares of Chagee during the second quarter worth about $11,034,000. Finally, FACTORIAL MANAGEMENT Ltd purchased a new stake in shares of Chagee during the second quarter worth about $178,000.
Chagee Company Profile
Our Mission With every cup of our tea, we aspire to foster a global connection of people and cultures. Our Vision To modernize the tea-drinking experience through technology and innovation. Our Core Values “Customer First” is the foundational philosophy of how we make decisions and run our business. “Caring for Partners” is the core value that defines how we interact with consumers, franchise partners, suppliers, and employees.
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