Yum China Holdings Inc (YUMC) Given “Outperform” Rating at CIBC
CIBC reaffirmed their outperform rating on shares of Yum China Holdings Inc (NASDAQ:YUMC) in a report released on Friday morning. The brokerage currently has a $45.00 price objective on the stock, up from their previous price objective of $43.00.
Several other equities analysts have also weighed in on YUMC. Morgan Stanley lifted their target price on shares of Yum China Holdings from $35.00 to $41.00 and gave the company an overweight rating in a report on Monday, June 26th. Oppenheimer Holdings, Inc. lifted their target price on shares of Yum China Holdings from $35.00 to $43.00 in a report on Thursday, July 6th. Deutsche Bank AG lowered shares of Yum China Holdings from a buy rating to a hold rating and lifted their target price for the company from $34.72 to $36.61 in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) restated a neutral rating and set a $35.90 target price (up previously from $33.10) on shares of Yum China Holdings in a report on Thursday, July 6th. Finally, Bank of America Corporation restated a neutral rating and set a $41.60 target price on shares of Yum China Holdings in a report on Sunday, July 30th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $39.52.
Yum China Holdings (NASDAQ:YUMC) traded up 2.13% during mid-day trading on Friday, hitting $40.82. The stock had a trading volume of 8,022,839 shares. The company has a market cap of $15.65 billion and a price-to-earnings ratio of 30.01. The company has a 50 day moving average price of $38.91 and a 200-day moving average price of $38.91. Yum China Holdings has a one year low of $23.79 and a one year high of $41.10.
Yum China Holdings (NASDAQ:YUMC) last announced its quarterly earnings results on Thursday, October 5th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.04). The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.98 billion. Yum China Holdings had a net margin of 7.09% and a return on equity of 16.35%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. Equities analysts expect that Yum China Holdings will post $1.46 earnings per share for the current fiscal year.
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Yum China Holdings announced that its board has initiated a stock buyback program on Thursday, October 5th that permits the company to buyback $550.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a special dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, November 30th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, November 29th.
In related news, insider Mark Chu sold 22,184 shares of Yum China Holdings stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $37.72, for a total transaction of $836,780.48. Following the sale, the insider now owns 23,457 shares of the company’s stock, valued at approximately $884,798.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Yum China Holdings by 28.7% during the 2nd quarter. BlackRock Inc. now owns 27,306,495 shares of the company’s stock worth $1,076,695,000 after buying an additional 6,087,048 shares during the period. State Street Corp increased its stake in Yum China Holdings by 4.2% during the 2nd quarter. State Street Corp now owns 9,922,703 shares of the company’s stock worth $391,256,000 after buying an additional 396,628 shares during the period. Clearbridge Investments LLC increased its stake in Yum China Holdings by 13.8% during the 1st quarter. Clearbridge Investments LLC now owns 7,908,117 shares of the company’s stock worth $215,101,000 after buying an additional 956,175 shares during the period. FMR LLC increased its stake in Yum China Holdings by 7.4% during the 2nd quarter. FMR LLC now owns 6,576,492 shares of the company’s stock worth $259,311,000 after buying an additional 455,254 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Yum China Holdings by 62.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,167,324 shares of the company’s stock worth $164,318,000 after buying an additional 1,605,418 shares during the period.
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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