Putnam Investments LLC reduced its position in Yum China Holdings Inc (NYSE:YUMC) by 14.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 632,006 shares of the company’s stock after selling 102,945 shares during the period. Putnam Investments LLC owned about 0.17% of Yum China worth $29,199,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Yum China by 19.5% in the 1st quarter. BlackRock Inc. now owns 39,168,859 shares of the company’s stock worth $1,759,077,000 after acquiring an additional 6,383,587 shares during the last quarter. Invesco Ltd. raised its holdings in Yum China by 497.0% in the 2nd quarter. Invesco Ltd. now owns 35,798,550 shares of the company’s stock worth $1,653,894,000 after acquiring an additional 29,802,453 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in Yum China by 83.4% in the 1st quarter. OppenheimerFunds Inc. now owns 17,160,157 shares of the company’s stock worth $770,663,000 after acquiring an additional 7,804,046 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Yum China by 20.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,968,619 shares of the company’s stock worth $597,595,000 after acquiring an additional 2,163,983 shares during the last quarter. Finally, Matthews International Capital Management LLC raised its holdings in Yum China by 9.1% in the 2nd quarter. Matthews International Capital Management LLC now owns 5,491,810 shares of the company’s stock worth $253,722,000 after acquiring an additional 458,200 shares during the last quarter. Institutional investors own 80.59% of the company’s stock.
In other Yum China news, insider Angela Ai sold 13,477 shares of Yum China stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $44.74, for a total value of $602,960.98. Following the completion of the sale, the insider now owns 28,445 shares of the company’s stock, valued at approximately $1,272,629.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.44% of the company’s stock.
Yum China (NYSE:YUMC) last posted its earnings results on Tuesday, July 30th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.36 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that Yum China Holdings Inc will post 1.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, August 27th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, August 26th. Yum China’s dividend payout ratio (DPR) is presently 31.37%.
Separately, Zacks Investment Research raised shares of Yum China from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Saturday, September 14th. Six investment analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus price target of $51.05.
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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