Bank of Nova Scotia acquired a new stake in Yum China Holdings Inc (NASDAQ:YUMC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 639,000 shares of the company’s stock, valued at approximately $25,196,000. Bank of Nova Scotia owned about 0.17% of Yum China Holdings as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in YUMC. Comerica Bank increased its holdings in Yum China Holdings by 8.6% in the first quarter. Comerica Bank now owns 28,737 shares of the company’s stock valued at $985,000 after buying an additional 2,273 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in Yum China Holdings by 209.0% in the first quarter. Neuberger Berman Group LLC now owns 54,686 shares of the company’s stock valued at $1,487,000 after buying an additional 36,987 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Yum China Holdings by 41.0% in the first quarter. Alliancebernstein L.P. now owns 340,372 shares of the company’s stock valued at $9,258,000 after buying an additional 99,020 shares during the last quarter. Credit Agricole S A increased its holdings in Yum China Holdings by 10.9% in the first quarter. Credit Agricole S A now owns 189,510 shares of the company’s stock valued at $5,155,000 after buying an additional 18,558 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Yum China Holdings in the first quarter valued at about $408,000.
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Shares of Yum China Holdings Inc (YUMC) traded down 0.07% during trading on Wednesday, reaching $42.48. The company’s stock had a trading volume of 776,150 shares. Yum China Holdings Inc has a 1-year low of $23.79 and a 1-year high of $43.47. The stock has a market capitalization of $16.31 billion and a price-to-earnings ratio of 31.24. The company’s 50-day moving average price is $39.24 and its 200 day moving average price is $39.24.
Yum China Holdings (NASDAQ:YUMC) last posted its quarterly earnings results on Thursday, October 5th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.04). Yum China Holdings had a return on equity of 16.35% and a net margin of 7.09%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $0.52 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts anticipate that Yum China Holdings Inc will post $1.43 EPS for the current year.
The firm also recently declared a special dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, November 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 29th.
Yum China Holdings announced that its board has authorized a stock buyback program on Thursday, October 5th that permits the company to buyback $550.00 million in shares. This buyback authorization permits the company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Chu sold 22,184 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $37.72, for a total transaction of $836,780.48. Following the sale, the insider now directly owns 23,457 shares of the company’s stock, valued at approximately $884,798.04. The disclosure for this sale can be found here. Insiders sold 24,928 shares of company stock valued at $947,863 in the last three months.
Several analysts recently weighed in on YUMC shares. Morgan Stanley boosted their price objective on 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. boosted their price objective on Yum China Holdings from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, October 6th. Deutsche Bank AG raised Yum China Holdings from a “hold” rating to a “buy” rating and set a $45.30 price objective for the company in a report on Friday, October 6th. Zacks Investment Research lowered Yum China Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. Finally, Bank of America Corporation restated a “neutral” rating and issued a $41.60 target price on shares of Yum China Holdings in a research note on Sunday, July 30th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $42.35.
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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