Insider Trading Fri 8/16/24

Notable purchases -- Execs add to WBTN; notable sales -- President & CEO active in ABG 

Buyers:

• ACDC 10% owner THRC Holdings bought 470,000 shares of Class A common stock at $5.88 - $6.25 worth approx. $2.8 mln.
• ALTI 10% owner bought 110,388 shares of Class A Common Stock at $3.79 - $4.05 worth approx. $433K.
• APEI 10% owner bought 89,042 shares worth approx. $1.2 mln.
• BSM Director bought 34,200 common units representing limited partner interests at $14.62 worth approx. $500K.
• CPNG 10% owner Greenoaks bought 501,300 shares of Class A Common Stock at $22.3.0 - $22.59 worth more than $11.2 mln. CFO also disclosed the sale of 200,000 shares at $22.62 - $23.04 worth $4.55 mln primarily for the purpose of offsetting certain Korea and U.S. tax liabilities and other related costs incurred and to be incurred.
• CRK 10% owner Arkoma Drilling bought 2,945,694 shares at $10.13 - $10.59 worth approx. $30.7 mln.
• FET President & Chief Executive Officer bought 13,500 shares at $15.00 - $16.28 worth ~$214K.
• FLNC Director bought 10,000 shares of Class A Common Stock at $16.77 - $16.82 worth approx. $168K.
• GRWG Chief Executive Officer Lampert and the President Salaman bought 210,593 shares combined at $1.785 - $1.91 worth nearly $400K.
• HHS Director bought 73,900 shares at $7.08 - $7.30 worth approx. $534K.
• INTT Director bought 10,900 shares at $6.77 - $6.80 worth ~$74K.
• KTOS President / Chief Executive Officer bought 12,396 shares at $20.00 to $20.31 worth approx. $250K.
• LAW Director bought 25,000 shares at $5.24 - $5.43 worth approx. $135K.
• NVT Director bought 7,566 shares at $65.61 - $66.12 worth approx. $497K.
• QTRX President & Chief Executive Officer bought 19,000 shares at $10.88 - $10.90 worth approx. $207K.
• SAFT Director bought 1,000 shares at $78.80 worth ~$79K.
• TMCI Chief Executive Officer bought 85,000 shares at $5.95 - $6.07 worth approx. $510K.
• WBTN Chief Strategy Officer, Chief Financial Officer, Chief Operating Officer and Director bought 23,522 shares combined at $12.93 - $13.00 worth approx. $305K.
• YUMC General Manager, KFC bought 3,700 shares at HK$270.4 per share worth ~$128K (converted to U.S. dollars using an exchange rate of 7.8).

Sellers:

• ABG President & CEO sold 8,190 shares at $230.67 - $234.37 worth more than $1.9 mln as part of his annual financial planning strategy for asset diversification and estate planning purposes.
• ATR President, Asia sold 7,200 shares at $146.44 - $146.58 worth approx. $1.1 mln.
• COST Director sold 620 shares at $876.50 worth approx. $543K.
• NXST President, Networks sold 3,930 shares at $160.61 worth ~$631K.
• PEG EVP & General Counsel sold 19,127 shares worth ~$1.5 mln.
• REG East Regional President & COO sold 4,250 shares at $70.36 worth approx. $299K.

Insider Trading Fri 11/24/23

Notable purchases -- CEOs active in HTLD, YUMC; notable sales -- execs active in SFM, RPD, APPF

Buyers:

• Impinj (PI) 10% owner bought 37,513 shares worth approx. $3.11 mln.
• Heartland Express (HTLD) CEO bought 95,602 shares worth approx. $1.25 mln.
• Yum China (YUMC) CEO bought 14K shares worth approx. $647K.

Sellers:

• Sprouts Farmers Market (SFM) CEO sold 61,092 shares worth approx. $2.50 mln.
• Rapid7 (RPD) COO sold 38,577 shares worth approx. $2.02 mln.
• AppFolio (APPF) CEO sold 7,430 shares worth approx. $1.49 mln.

=Yum China (YUMC) reported earnings on Tue 1 Nov 22 (a/h)

 

Yum China beats by $0.19, reports revs in-line; comps were flat, with flat growth at KFC and +2% growth at Pizza Hut, excluding FX

• Reports Q3 (Sep) earnings of $0.49 per share, excluding non-recurring items, $0.19 better than the S&P Capital IQ Consensus of $0.30; revenues rose 5.1% year/year to $2.69 bln vs the $2.71 bln S&P Capital IQ Consensus.
  • Total system sales increased 5% yr/yr, with increases of 5% at KFC and 7% at Pizza Hut, excluding F/X.
    
  • Same-store sales were flat yr/yr, with flat growth at KFC and an increase of 2% at Pizza Hut, excluding F/X.
    
  • Opened 239 net new stores during the quarter; total store count reached 12,409 as of September 30, 2022.
    
  • Restaurant margin was 18.8%, compared with 12.2% in the prior year period.

Earnings this week : Oct 31 - Nov 4, 22 (wk 44)

Monday (Oct 31)

• Morning:  CNA GPN HWM NSP JELD ON PEG SAIA XPO
• Afternoon: ACHC ADUS AFL AWK AMKR ANET CAR AXNX NTB BCC CHE CINF CIVI CNO PLOW FLS GT HLIT HTLF HLF HOLX IMAX KMT KFRC LSCC LEG VAC NXPI OGS OTTR PSMT RMBS RRX RHP SBAC SON SYK TREX VRNS VNO WMB

Tuesday (Nov 1)

• Morning: ABMD AJRD AGCO AME ARCB ARNC AVA TECH BCOR BPMC BP CTLT CNP CIGI CVLT DEA ETN ECL ECVT LLY NPO EPD ETRN ESPR FOXA BEN IT HLNE HSC HAYW HSIC IDXX INCY ICPT IPGP KKR LCII LEA LDOS LGIH LPX MPC TAP MPLX MYGN NBIX NEM PFE PSX PBI PINC PACK RGEN SAFE STNG SEE SPG SIRI SOFI SUN SYY TRI BLD TRTN UBER WAB WAT WEC XYL ZBRA
• Afternoon:  AEIS AMD ABNB AYX AIG ANDE APAM AMK AIZ ATCO ATRC BTG BAND BLKB BFAM BRX CZR CWH CDLX CAKE CHGG CHK CRUS CLX CRK CNDT CACC DENN DVN EIX EA ET EXEL EXR FMC FCPT FRPT FRSH HRB THG PEAK HURN INSP INST IRTC JRVR KAI KAR LFUS LTHM MGY MTCH MCK MRCY MSTR MIR MDLZ NMIH OI OKE OSPN PAYC PUMP PRO PRU PSA RNR REZI SPNE SCI SIMO TSLX SKY SNCY SMCI UNVR UNM VRSK VRAY VOYA WU YUMC ZETA ZI

Wednesday (Nov 2)

• Morning:  ACIW ALKS ATI APO ASTE AVNS AVDX AVNT BDC EAT BR BIP CHRW GOOS CDW FUN CVE CRL CLH CVS DIN DFIN DT EDIT EMR ENOV ENTG ETR EL EXPI RACE FDP FYBR GNRC THRM HZNP HUM INGN JLL LIVN LL MLM MTRN MLCO NNN NYT DNOW ODP OMCL PARA PSN RDWR RITM ROK SABR SMG SBGI SITE SHC SHOO TEL TT TRMB TUP UTHR VSH VMC XHR YUM ZBH
• Afternoon:  TXG ACAD ALB ALGT ALL ATUS AFG AMPL ANSS APA ACA ACLS BKH BKNG BCOV CRC CPE CDAY CF CTSH CFLT CLR CXW CCRN CW ELF ESTE EBAY ECPG EPR EQIX EQH ETSY ES EVTC EVGO EVOP EVH FARO FSLY FSR FLT FTNT GFL GKOS HTGC HST TWNK HUBS HBM HPP ICLR NARI INFN IR NGVT IIPR FROG KMPR KW LHCG LSI LNC LUMN MBI  MRO MRVI MATX MET MTG MGM MKSI MC NRDS  NSA NVRO NE NUS NTR OHI ONL ORA PLMR PK PYCR PDCE PDM PAA POWI PCOR PTRA PTC QRVO QCOM QLYS QDEL RDN RPD RYN O RGNX RCII RVLV RLJ HOOD ROKU RPT RSI SRPT SIGI SITM STAA SRI RGR SUM SLF SU RUN TNDM SKT RIG TTMI TPC UDMY RARE VCYT VMEO VSTO HCC WCN WTS WERN WES WSC WK WWE YELL ZG

Thursday (Nov 3)

• Morning: FLWS GOLF ADT WMS AER AGIO APD ALIT AIMC ABC APG APTV ARW AAWW ATHM BALL BALY GOLD BHC BCE BKI BRKR CSII CARS LNG CQP CIM IMOS CI CCOI COMM COP CROX CMI CYBR DDOG DCPH DLX DEN DSEY DNB ESMT EPAM EXC FSS FIS FOCS FTDR ROCK GIL GOGO GTN GPRE HLMN HII H IDA INGR NSIT IBP NTLA ICE IDCC ITCI IRM IRWD ITRI ITT ISEE JCI K KTB KYMR LANC LNTH TREE LXP MAC MTSI MAR MDU MFA MGPI MRNA MODV MUR NKLA NVMI OGE OGN PCRX PZZA BTU MD PTON PENN DOC PNW PTLO PBH PWR REGN QSR RCL SPNS SRE SHAK SWI SPR SRCL STOR STRA TNK TPX TX TEVA THRY USPH UNIT VIRT VNT W WCC WLK WOW ZTS
• Afternoon:  ADPT ATGE AES AL ATSG ALKT MDRX AOSL ALTR AEE AMH COLD AMGN AMN APPN TEAM AVB BIGC BILL BL SQ BE MNRL CABO CMBM CDNA CVNA CE CHUY NET CDXS CGNX COIN COLL CODI ED CRSR CTVA CTRA CYRX CWK CUTR CYTK DH DRH BOOM DASH DOUG DEI DBX DXC LOCO NVST EOG EXAS EXPE FATE FRT FND FOXF FRG FNKO GDDY GPRO GDYN GH HRT HMN ICFI ILMN PODD IOVA KTOS LPI LGF.A LYV MTZ MAXR MAX MED MELI MTD MCHP MNTV MNST MSI MP NFG NKTR LASR NDLS LPRO OTEX OPEN OEC OUT PCTY PYPL PBA PEN PECO PLYA PRAA PGNY LUNG KWR QNST RMAX REG RGA RKT SGMO SDGR SEM SWKS SM SPT SPXC SBUX STEM STEP SYNA TMST TPIC TRUP TWLO OLED UPLD VTR VIAV VIR SPCE WBD WPM WW YELP

Friday (Nov 4)  

• Morning:  ACMR ADNT AMCX AXL AMRX ABR BEP CAH CBOE CNK DBRG D DKNG DUK ENB ESNT EVRG FLR FUBO GTES EAF HSY HUN IMGN TILE KOP LAMR MGA MBUU MOG.A PNM PPL PRLB QRTEA SYNH TU WPC

-=Yum China (YUMC) provides business update: Delta variant significantly impacted restaurant industry

 

Yum China provides business update: Delta variant impacted 16 provinces, significantly impacted the restaurant industry; adjusted operating profit expected to be reduced by 50-60% in Q3

• At the peak of the outbreak in August 2021, more than 500 stores in 17 provinces were closed or offered only takeaway and delivery services.
• Same-store sales in August 2021 declined by mid-teens percentage year over year, or close to an approximately -20% decline compared to August 2019.
  • This was mainly due to a same-store dine-in sales decline in that month of approximately -20% to -30%, and a sharp drop in sales at co's transportation and tourist locations of approximately -40% to -50% year over year, also on a same-store basis.
• While the outbreak has subsided in recent days and restaurant traffic is gradually recovering, operations continue to be heavily impacted, and the co expects a recovery of same-store sales to take time.
• Adjusted operating profit, which excludes special items, may be reduced by approximately 50% to 60% for the third quarter of 2021.
• Co added, "YUMC will accelerate its store network expansion, expecting to open 1,300 gross new stores in 2021, strengthen offerings for dine-in, delivery, takeaway and retail, and invest in digital and technology."

=Yum China (YUMC) reported earnings on Tue 30 Oct 2018 (a/h)

Yum China beats by $0.05, misses on revs

Reports Q3 (Sep) earnings of $0.51 per share, $0.05 better than the S&P Capital IQ Consensus of $0.46; revenues rose 3.8% year/year to $2.21 bln vs the $2.24 bln S&P Capital IQ Consensus.

Total system sales grew 4% year over year, with 6% growth at KFC partially offset by 2% decline at Pizza Hut, excluding F/X.

Same-store sales declined 1% year over year, with a 1% increase at KFC and a 5% decrease at Pizza Hut, excluding F/X.

Restaurant margin was 17.6%, as compared with 18.0% in the prior year period.

Share Repurchase Authorization Increased by $850 million to an Aggregate of $1.4 billion

Co stated, "Pizza Hut recorded a 5% decline in same-store sales during the quarter, as healthy growth in delivery was offset by lower dine-in traffic. We made further progress on the revitalization program as we launched a refreshed brand identity, improved our value proposition, expanded our digital capabilities to include tableside ordering via mobile, and generated greater delivery traffic through our own channels."

-=Yum China Holdings (YUMC) to be acquired by private equity?

HONG KONG (Reuters) - Investment firms are exploring a buyout of Yum China Holdings Inc. in what could be one of Asia's biggest M&A deals this year, sources close to the situation told Reuters.

Yum China, which has a current market cap of $13 billion, was spun off from the KFC and Pizza Hut owner Yum Brands! Inc in 2016 and later listed on the New York Stock Exchange.

The firm itself has been discussing internally about switching to the Hong Kong bourse for a listing, because of the city's proximity to the Chinese market, potentially higher valuation and its convenient timezone for executives, a separate source with knowledge of the plan told Reuters.

Chinese investment firm Hillhouse Capital Group is planning to lead a consortium to buy the KFC and Pizza Hut operator in China, said four of the people. The firm, which has received commitments of over $10 billion for a new fund, has tapped lenders for potential financing of the deal and other investors to join them in the bid, two of them said.

Global investment house KKR & Co and Hong Kong-based regional firm Baring Private equity Asia are also weighing up investing in the buyout, according to two sources, who added that no final decision has been made.

Bloomberg first reported on investors in the Yum China buyout on Tuesday. The report said Chinese sovereign fund China Investment Corp (CIC) and DCP Capital, the investment firm run by former KKR & Co. senior executives, are part of the Hillhouse consortium, adding that Primavera Capital Group, a current investor in Yum China, could also join the bidding group.

Reuters could not independently verify if the investors are all working as one bidding group. A separate source with knowledge of the situation said there could be more than one consortium of bidders.

A spokesman for Yum China said the company does not comment on market rumours or speculation when asked about the buyout intent and the Hong Kong listing plan. Yum Brands did not immediately respond to a request for comment.

Hillhouse and Baring declined to comment. KKR, CIC, DCP and Primavera did not immediately respond to requests for comments.

Chinese investment firm Primavera Capital and Ant Financial Services Group bought a minority stake in Yum China for $460 million as part of the spin-off deal in September 2016. Both are still shareholders in the company. Ant declined to comment.

Two sources said a KKR-led consortium, which included Baring, CIC and Chinese investment firm Hopu Investments, had discussions with Yum Brands! about taking a controlling stake in its China business two years ago but failed to get a deal done.

Yum China shares are down 15 percent this year but its Monday's closing price - $34.22 per share, is still above its listing price at $24.51 on Nov. 1 2016. It has lost about $1 billion in market cap since reports about the potential buyout first came out in late July.

Its second-quarter net income increased 13 percent year-on-year but Pizza Hut continued to face challenges in China's competitive casual dining space, its CEO said on Aug. 1.

Former Yum China chairman and chief executive officer Sam Su, who was pivotal in the company's expansion in China, now serves as an operating partner at Hillhouse Capital.

-=YUMC : downgraded to Underperform from Neutral at BofA/Merrill

oo=Yum China (YUMC) reported earnings on Tue 1 May 2018 (a/h)

Yum China (YUMC) shares fell after the closing bell after the company's first-quarter same-store sales came up short of expectations, weighed down by a weak performance at Pizza Hut.


Estimates: Wall Street expects the company — which runs KFC, Pizza Hut and Taco Bell locations in China — to report earnings per share of 49 cents, up 11%. System-wide same-store sales are expected to rise 3.3%, with a 3.8% gain at KFC and a 0.3% dip at Pizza Hut, according to Consensus Metrix.

Results: Same-store sales rose 3%. EPS came in at 53 cents. Same-store sales rose 5% at KFC but fell 5% at Pizza Hut.

Total revenues rose 15% to $2.2 billion.

Stock: Shares tumbled 7% after hours in the stock market today. Yum Brands (YUM), the parent company of the three fast-food chains that spun off Yum China in 2016, was unchanged after hours. Yum Brands reports on Wednesday.

=Yum China Holdings (YUMC) reported earnings on Wed 5 July 2017 (a/h)

July 6 (Reuters) - Yum China Holdings Inc, the operator of KFC, Pizza Hut and Taco Bell in the world's second-largest economy, posted quarterly sales slightly below estimates, dragged down by sluggish growth at Pizza Hut amid a turnaround drive.

The firm, which spun off from Yum Brands Inc late last year, said same-store sales rose 3 percent in the second quarter of 2017, driven by a 4 percent jump at fried chicken chain KFC. Pizza Hut's same-store sales were flat.

Yum, China's biggest fast food chain with over 7,685 outlets, has been looking to rev up growth in the market which has slowed since 2012, hit by food safety scares, changing consumer tastes and a wider economic slowdown.

The Pizza Hut division, which has been off-setting stronger growth at KFC since before Yum China's listing, fell short of analyst estimates of a 1.5 percent same-store sales rise, according to research firm Consensus Metrix.

Joey Wat, Yum China's president and chief operating officer, told analysts after the results that the pizza unit had been struggling and there were "quite a few key aspects of the fundamentals of the business that we have to fix".

"There is a still a long way to go to turn around Pizza Hut and we are working diligently to get things done," she said.

KFC's growth was stronger, helping push overall same-store sales above the average analyst estimate of a rise of 2.4 percent.

Shares in the company eased, however, on the concerns over Pizza Hut.

Yum China has been trying to turn around the unit by simplifying its menu, as well as making a push on mobile payments and delivery. It recently bought a controlling stake in local food-delivery service Daojia.

The fast food chain's net income rose to $107 million, or 27 cents per share, in the quarter, from $77 million, or 21 cents per share, a year earlier, which management said was helped by an industry wide tax reform. Margins also widened.

Total revenue fell 0.4 percent to $1.59 billion, slightly missing the average analyst estimate of $1.60 billion, according to Thomson Reuters I/B/E/S.

=Yum China Holdings (YUMC) reported earnings on Wed 5 Apr 2017 (a/h)

Yum China Holdings (YUMC) reported a 21% increase in fiscal first quarter net income, and a 1% rise in same-store sales.

Yum China reported net income of $175 million, or 45 cents per share, in the quarter that ended to Feb. 28 and included Chinese New Year spending. The company said it opened 133 new restaurants during the quarter; Yum China began trading as a separate company last October after it was carved out of Yum Brands (YUM).

From the release:

• Net income increased 21% to $175 million.
• Operating profit grew 22%, and 27% excluding F/X, primarily aided by the impact of retail tax structure reform. F/X negatively impacted operating profit by $12 million.
• Basic earnings per share increased 14% to $0.45 and diluted EPS increased 12% to $0.44.
• Same-store sales grew 1%, including growth of 1% at KFC and 2% at Pizza Hut Casual Dining
• Restaurant margin for Yum China increased 3.7 percentage points to 23.0%, primarily aided by the impact of retail tax structure reform and profit generated from additional sales at KFC and Pizza Hut Casual Dining, partially offset by wage inflation and commodity inflation.

Earlier this week, AB analysts said the stock could rise to $31, and the stock was recently trading at $30.99. However, AB projected lower sales growth in the quarter.

Yum China said its 7,600 restaurants represent a big lead on western and Chinese competitors, according to a prepared release. Its conference call on results will be held at 8 p.m. EST. See our post Yum China Earnings: Stock Has 15% Upside, AB Says.

YUMC — NR

Yum China (YUMC) began trading on the NYSE on 25 October 2016

• The Louisville, KY-based restaurant company, which operates quick-serve names like KFC, Pizza Hut and Taco Bell, span off its Yum China division.

2 weeks later:

Yum China Holdings, Inc. operates as a restaurant company in China. As of November 1, 2016, the company had 7,300 restaurants in approximately 1,100 cities. It holds exclusive right to operate and sub-license the KFC, Pizza Hut, and Taco Bell brands in China, as well as owns the East Dawning and Little Sheep concepts. The company was incorporated in 2016 and is headquartered in Shanghai, China.

Milestones in China

• 1987 – KFC opens its first China location in Beijing
• 1990 – Pizza Hut opens its first China location in Beijing
• 2001 – Pizza Hut Home Service launches in Shanghai
• 2004 – KFC opens its 1,000th restaurant in China
• 2005 – First East Dawning restaurant opens in Shanghai
• 2012 – Yum! Brands acquires Little Sheep
• 2013 – Pizza Hut Casual Dining opens its 1,000th restaurant in China
• 2015 – KFC opens its 5,000th restaurant in China
• 2016 – Separated from Yum! Brands and became an independent company, listed on the New York Stock Exchange