Zurcher Kantonalbank Zurich Cantonalbank Sells 8,400 Shares of Yum China Holdings Inc (YUMC)
Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Yum China Holdings Inc (NYSE:YUMC) by 7.8% during the second quarter, Holdings Channel reports. The institutional investor owned 99,676 shares of the company’s stock after selling 8,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Yum China were worth $3,834,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Genesis Asset Managers LLP purchased a new stake in Yum China in the 2nd quarter worth approximately $200,754,000. Tyers Asset Management LLC boosted its position in Yum China by 51.8% in the 1st quarter. Tyers Asset Management LLC now owns 26,348 shares of the company’s stock worth $1,094,000 after purchasing an additional 8,988 shares in the last quarter. Swiss National Bank boosted its position in Yum China by 8.5% in the 1st quarter. Swiss National Bank now owns 838,443 shares of the company’s stock worth $34,795,000 after purchasing an additional 65,600 shares in the last quarter. Motley Fool Asset Management LLC boosted its position in Yum China by 729.0% in the 1st quarter. Motley Fool Asset Management LLC now owns 207,251 shares of the company’s stock worth $8,601,000 after purchasing an additional 182,251 shares in the last quarter. Finally, ARGI Investment Services LLC boosted its position in Yum China by 10.7% in the 1st quarter. ARGI Investment Services LLC now owns 63,746 shares of the company’s stock worth $2,645,000 after purchasing an additional 6,139 shares in the last quarter. Hedge funds and other institutional investors own 83.52% of the company’s stock.
Yum China stock opened at $34.86 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.51 and a current ratio of 1.74. Yum China Holdings Inc has a 12 month low of $32.10 and a 12 month high of $48.75. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 1.59 and a beta of 0.92.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Wednesday, August 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Tuesday, August 28th. Yum China’s payout ratio is 28.17%.
Several equities research analysts have commented on YUMC shares. Zacks Investment Research upgraded Yum China from a “sell” rating to a “hold” rating in a research report on Saturday, May 5th. UBS Group lowered Yum China from an “outperform” rating to a “market perform” rating in a research report on Friday. Oppenheimer lowered Yum China from an “outperform” rating to a “market perform” rating and set a $33.00 price objective on the stock. in a research report on Friday. Macquarie lowered Yum China from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 2nd. Finally, Bank of America lowered Yum China from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $44.30 to $34.00 in a research report on Thursday, July 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Yum China has a consensus rating of “Hold” and a consensus price target of $46.06.
In other news, insider Aiken Yuen sold 1,805 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $38.96, for a total transaction of $70,322.80. Following the completion of the transaction, the insider now directly owns 2,337 shares of the company’s stock, valued at approximately $91,049.52. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joey Wat bought 24,400 shares of Yum China stock in a transaction dated Thursday, June 7th. The shares were acquired at an average cost of $40.97 per share, with a total value of $999,668.00. Following the completion of the purchase, the chief executive officer now owns 21,991 shares in the company, valued at $900,971.27. The disclosure for this purchase can be found here. Corporate insiders own 0.37% of the company’s stock.
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, and Little Sheep brands, which specialize in chicken, pizza, hot pot cooking, Chinese food, and Mexican-style food categories.
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