Chagee (NASDAQ:CHA) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Chagee (NASDAQ:CHA) from an underweight rating to a neutral rating in a report issued on Friday, Marketbeat.com reports. They currently have $11.50 price target on the stock, down from their prior price target of $12.40.

A number of other brokerages have also weighed in on CHA. Zacks Research upgraded Chagee from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Wall Street Zen upgraded Chagee from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Jefferies Financial Group started coverage on Chagee in a report on Wednesday, January 7th. They set a “hold” rating and a $14.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chagee has an average rating of “Hold” and an average target price of $29.67.

Chagee Price Performance

Chagee stock opened at $10.31 on Friday. Chagee has a 1 year low of $9.95 and a 1 year high of $41.80. The firm’s 50 day moving average price is $12.18 and its 200-day moving average price is $15.63. The stock has a market cap of $1.89 billion and a P/E ratio of 11.72.

Chagee (NASDAQ:CHA) last issued its earnings results on Friday, November 28th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $450.67 million for the quarter, compared to analysts’ expectations of $458.31 million.

Chagee Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 8th. Chagee’s payout ratio is currently 98.86%.

Institutional Investors Weigh In On Chagee

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fosun International Ltd lifted its holdings in shares of Chagee by 19,295.0% in the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after acquiring an additional 7,408,691 shares during the last quarter. Schroder Investment Management Group bought a new stake in Chagee in the third quarter worth about $46,150,000. UBS Group AG boosted its position in shares of Chagee by 212.5% during the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock valued at $16,298,000 after buying an additional 669,583 shares during the period. Marshall Wace LLP bought a new position in shares of Chagee during the second quarter valued at approximately $13,764,000. Finally, Barings LLC purchased a new stake in shares of Chagee in the second quarter worth approximately $11,302,000.

About Chagee

Our Mission With every cup of our tea, we aspire to foster a global connection of people and cultures. Our Vision To modernize the tea-drinking experience through technology and innovation. Our Core Values “Customer First” is the foundational philosophy of how we make decisions and run our business. “Caring for Partners” is the core value that defines how we interact with consumers, franchise partners, suppliers, and employees. “Quality, Health, and Convenience” is the guiding principle of how we make our products.