Yum China Holdings Inc (YUMC) Upgraded at Zacks Investment Research
Yum China Holdings Inc (NASDAQ:YUMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Yum China Holdings, Inc. is a licensee of Yum! Brands primarily in mainland China. The company have rights to KFC, China’s quick-service restaurant concept, Pizza Hut, casual dining restaurant brand and Taco Bell. Yum China Holdings, Inc. is based in Shanghai, China. “
A number of other brokerages have also weighed in on YUMC. Nomura initiated coverage on shares of Yum China Holdings in a research report on Monday, October 9th. They set a “buy” rating and a $51.60 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $45.00 target price on shares of Yum China Holdings in a research report on Monday, October 9th. Bank of America Corporation reiterated a “neutral” rating and set a $45.10 target price (up previously from $41.60) on shares of Yum China Holdings in a research report on Friday, October 6th. Instinet reiterated a “buy” rating and set a $51.60 target price (up previously from $51.50) on shares of Yum China Holdings in a research report on Monday, October 9th. Finally, Deutsche Bank AG lowered shares of Yum China Holdings from a “buy” rating to a “hold” rating and increased their target price for the stock from $34.72 to $36.61 in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Yum China Holdings currently has a consensus rating of “Hold” and a consensus price target of $42.35.
Yum China Holdings (NASDAQ:YUMC) last posted its quarterly earnings results on Thursday, October 5th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.04). The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.98 billion. Yum China Holdings had a net margin of 10.84% and a return on equity of 30.55%. Yum China Holdings’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.
Yum China Holdings declared that its board has approved a share repurchase plan on Thursday, October 5th that permits the company to repurchase $550.00 million in shares. This repurchase authorization permits the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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In other news, insider Angela Ai sold 17,678 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $43.05, for a total value of $761,037.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Danny Tan sold 2,124 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $41.84, for a total transaction of $88,868.16. The disclosure for this sale can be found here. Insiders sold 41,986 shares of company stock valued at $1,686,687 over the last 90 days.
Hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its position in shares of Yum China Holdings by 3.9% in the second quarter. Parkside Financial Bank & Trust now owns 2,719 shares of the company’s stock valued at $107,000 after acquiring an additional 102 shares during the period. San Francisco Sentry Investment Group CA purchased a new stake in Yum China Holdings in the second quarter valued at approximately $157,000. Nippon Life Insurance Co. purchased a new stake in Yum China Holdings in the second quarter valued at approximately $162,000. Tower Research Capital LLC TRC purchased a new stake in Yum China Holdings in the second quarter valued at approximately $176,000. Finally, Goelzer Investment Management Inc. purchased a new stake in Yum China Holdings in the third quarter valued at approximately $201,000.
Yum China Holdings Company Profile
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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