Rakuten Investment Management Inc. Takes $931,000 Position in Chagee Holdings Limited – Sponsored ADR $CHA

Rakuten Investment Management Inc. purchased a new position in shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 56,231 shares of the company’s stock, valued at approximately $931,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Taikang Asset Management Hong Kong Co Ltd purchased a new stake in shares of Chagee during the second quarter worth $1,828,000. Ovata Capital Management Ltd acquired a new position in Chagee during the second quarter worth about $587,000. Barings LLC purchased a new stake in Chagee during the 2nd quarter valued at about $11,302,000. Matthews International Capital Management LLC acquired a new stake in Chagee in the 2nd quarter valued at about $1,401,000. Finally, Long Corridor Asset Management Ltd purchased a new position in Chagee in the 2nd quarter worth approximately $3,264,000.

Chagee Stock Down 1.0%

Shares of Chagee stock opened at $12.27 on Friday. The business’s fifty day simple moving average is $13.17 and its 200-day simple moving average is $17.20. The firm has a market cap of $2.25 billion and a PE ratio of 13.94. Chagee Holdings Limited – Sponsored ADR has a 52 week low of $10.26 and a 52 week high of $41.80.

Chagee (NASDAQ:CHA) last issued its quarterly earnings data on Friday, November 28th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). The company had revenue of $450.67 million for the quarter, compared to analysts’ expectations of $458.31 million.

Chagee Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 8th. Chagee’s dividend payout ratio (DPR) is presently 98.86%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen raised Chagee from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a report on Monday, December 29th. JPMorgan Chase & Co. began coverage on shares of Chagee in a research report on Friday, November 14th. They set an “underweight” rating and a $14.20 price target on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Chagee in a research report on Wednesday, January 7th. They set a “hold” rating and a $14.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Chagee currently has an average rating of “Hold” and an average target price of $30.06.

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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.