BlackRock’s Latest Report on China and 5 Stocks to Watch

3. Yum China Holdings, Inc. (NYSE:YUMC)

BlackRock’s Stake Value: $1.33 billion

Number of Hedge Fund Holders: 26

Yum China Holdings, Inc. (NYSE:YUMC) is a food conglomerate which operates a number of brands in China, including KFC, Pizza Hut, Taco Bell, Little Sheep, and East Dawning, among others. BlackRock’s stake in the company amounted to 32.02 million shares at the close of the first quarter, representing 0.03% of its total portfolio and carrying a price tag of $1.33 billion.

In early May, the firm reported that the Omicron wave in China had caused significant volatility in its business operations during the first quarter, and this trend looks set to continue in the second quarter. The worsening US-China trade relations could also put further strain on the company shares. As of May 16, shares of Yum China Holdings, Inc. (NYSE:YUMC) have lost 19.43% in the year to date.

Out of all the hedge funds tracked by Insider Monkey, 26 reported owning stakes in Yum China Holdings, Inc. (NYSE:YUMC) at the end of the fourth quarter with a combined value of $842.5 million. This shows a downward trend from the preceding quarter where 30 hedge funds held $832.6 million worth of positions in the firm. Ray Dalio’s Bridgewater Associates held 1.62 million shares of Yum China Holdings, Inc. (NYSE:YUMC) at the end of the first quarter, with a price tag of $67.5 million, making it the firm’s leading shareholder.