The Manufacturers Life Insurance Company increased its stake in Yum China Holdings, Inc. (NYSE:YUMC) by 8.1% during the fourth quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The fund now owns 1,641,652 shares of the company’s stock, valued at $79,095,000, representing about 0.43% of Yum China’s outstanding shares.
Other institutional investors have also adjusted their positions in Yum China. Coldstream Capital Management Inc. grew its holdings by 22.8%, while Voya Investment Management LLC increased its stake by 15.1%. Adage Capital Partners GP L.L.C., White Oak Capital Partners Pte. Ltd., and MGO One Seven LLC established new positions in the company during the fourth quarter.
In related news, Yum China CEO Joey Wat sold 37,252 shares on March 5th, reducing his holdings by 8.87%. Insider Jeff Kuai also sold 3,900 shares on February 17th, decreasing his position by 6.45%. In total, insiders sold 45,152 shares worth $2,242,176 in the last three months.
Yum China stock opened at $46.67 on Wednesday, with a market capitalization of $17.50 billion. The company recently announced a quarterly dividend of $0.24 per share, payable on March 27th, representing a 2.06% dividend yield.
Analysts have given Yum China a mixed outlook. Daiwa America upgraded the stock to a “strong-buy” rating on April 9th, while StockNews.com downgraded it to a “hold” rating on February 25th. The consensus price target is $48.70, with an average rating of “Buy”.
