Bank of America Corp DE Sells 28,520 Shares of Yum China $YUMC

Key Points

• Bank of America reduced its Yum China stake by 0.8%, selling 28,520 shares in the first quarter. It still held 3.47 million shares worth approximately $169.1 million, while institutional investors collectively owned 85.58% of the company.
• Yum China reported quarterly EPS of $0.70, beating estimates by $0.03, and revenue of $3.14 billion, up 12.6% year over year and above expectations.
• The company declared a quarterly dividend of $0.075, equivalent to a 0.6% annual yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $59.21, compared with the stock’s reported price of $47.51.

Bank of America Corp DE trimmed its holdings in shares of Yum China (NYSE:YUMC - Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,467,225 shares of the company's stock after selling 28,520 shares during the quarter. Bank of America Corp DE owned about 0.99% of Yum China worth $169,131,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of YUMC. Ashoka WhiteOak Capital Pte Ltd boosted its stake in shares of Yum China by 0.7% in the fourth quarter. Ashoka WhiteOak Capital Pte Ltd now owns 28,350 shares of the company's stock valued at $1,342,000 after buying an additional 200 shares during the period. Glenview Trust Co increased its stake in Yum China by 4.3% during the 4th quarter. Glenview Trust Co now owns 4,904 shares of the company's stock worth $234,000 after acquiring an additional 200 shares during the period. Truist Financial Corp raised its holdings in Yum China by 0.3% in the 4th quarter. Truist Financial Corp now owns 68,009 shares of the company's stock valued at $3,247,000 after acquiring an additional 211 shares in the last quarter. Biltmore Family Office LLC raised its holdings in Yum China by 3.1% in the 4th quarter. Biltmore Family Office LLC now owns 7,111 shares of the company's stock valued at $339,000 after acquiring an additional 216 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. lifted its position in shares of Yum China by 2.7% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 8,258 shares of the company's stock valued at $394,000 after acquiring an additional 221 shares during the period. Institutional investors and hedge funds own 85.58% of the company's stock.

Yum China Price Performance

Yum China stock opened at $47.51 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.83 and a current ratio of 1.01. Yum China has a 52 week low of $40.15 and a 52 week high of $58.39. The stock has a market capitalization of $16.59 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.26 and a beta of 0.09. The stock has a fifty day moving average of $43.36 and a 200-day moving average of $47.95.

Yum China (NYSE:YUMC - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.05 billion. Yum China had a return on equity of 15.73% and a net margin of 7.84%.The business's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. On average, sell-side analysts expect that Yum China will post 2.95 earnings per share for the current fiscal year.

Yum China Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, August 27th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 27th. Yum China's dividend payout ratio is presently 42.49%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on YUMC shares. Wall Street Zen raised Yum China from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. The Goldman Sachs Group reaffirmed a "buy" rating and set a $59.00 price objective on shares of Yum China in a research report on Thursday, July 30th. Finally, Weiss Ratings downgraded shares of Yum China from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.21.

Yum China Company Profile

Yum China Holdings, Inc operates as the largest quick-service restaurant company in China, through its ownership and franchising of brands such as KFC, Pizza Hut and Taco Bell. The company's core business encompasses full-service and fast‐casual dining, takeout and delivery channels, as well as ancillary services including loyalty programs and digital ordering platforms. Yum China's restaurants offer a diverse menu that adapts global brand concepts to local consumer preferences, featuring items such as soy‐marinated chicken, customized pizzas and region‐inspired side dishes.

In addition to its signature brands, Yum China has expanded its portfolio to include innovative concepts tailored to evolving market trends, such as plant‐based offerings, self‐service kiosks and mobile app integrations.

Want to see what other hedge funds are holding YUMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Yum China (NYSE:YUMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source