Yum China $YUMC Shares Sold by Legacy Wealth Asset Management LLC

Key Points

• Legacy Wealth Asset Management LLC has reduced its stake in Yum China by 14.1%, selling 7,809 shares during the second quarter, bringing its total holdings to 47,636 shares valued at about $2.13 million.
• Yum China reported a net income of $0.58 earnings per share for the latest quarter, slightly surpassing analyst estimates, with revenue of $2.79 billion.
• The company declared a quarterly dividend of $0.24, representing an annualized yield of 2.1% and a payout ratio of 39.67%.

Legacy Wealth Asset Management LLC trimmed its position in Yum China (NYSE:YUMC - Free Report) by 14.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,636 shares of the company's stock after selling 7,809 shares during the period. Legacy Wealth Asset Management LLC's holdings in Yum China were worth $2,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its position in shares of Yum China by 355.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,001,107 shares of the company's stock valued at $45,280,000 after acquiring an additional 781,117 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Yum China during the 2nd quarter worth about $805,000. Nordea Investment Management AB grew its position in Yum China by 1.6% during the 2nd quarter. Nordea Investment Management AB now owns 1,026,244 shares of the company's stock worth $45,740,000 after purchasing an additional 15,896 shares during the period. Allianz Asset Management GmbH grew its position in Yum China by 11.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 96,124 shares of the company's stock worth $4,298,000 after purchasing an additional 9,880 shares during the period. Finally, Bayforest Capital Ltd acquired a new stake in Yum China during the 2nd quarter worth about $500,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Yum China Stock Up 2.4%

YUMC stock opened at $44.89 on Tuesday. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.63 and a beta of 0.18. The company has a current ratio of 1.39, a quick ratio of 1.22 and a debt-to-equity ratio of 0.01. Yum China has a 12 month low of $41.00 and a 12 month high of $53.99. The firm has a 50-day moving average of $44.03 and a two-hundred day moving average of $44.65.

Yum China (NYSE:YUMC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.80 billion. Yum China had a net margin of 8.04% and a return on equity of 14.13%. The business's revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 EPS. As a group, analysts forecast that Yum China will post 2.54 earnings per share for the current fiscal year.

Yum China Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 2nd were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. Yum China's dividend payout ratio (DPR) is currently 39.67%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Yum China in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Yum China currently has a consensus rating of "Buy" and an average target price of $60.00.

About Yum China

Yum China Holdings, Inc owns, operates, and franchises restaurants in the People's Republic of China. The company operates through KFC, Pizza Hut, and All Other segments. It operates restaurants under the KFC, Pizza Hut, Taco Bell, Lavazza, Little Sheep, and Huang Ji Huang concepts. The company also operates V-Gold Mall, a mobile e-commerce platform to sell products; and offers online food deliver services.

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