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

JPMorgan Chase & Co. upgraded shares of Chagee (NASDAQ:CHA) from an underweight rating to a neutral rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The brokerage currently has $11.50 target price on the stock, down from their prior target price of $12.40.

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

Chagee Price Performance

CHA opened at $10.31 on Friday. The company has a market capitalization of $1.89 billion and a price-to-earnings ratio of 11.72. The business’s 50-day moving average price is $12.18 and its two-hundred day moving average price is $15.73. Chagee has a 1 year low of $9.95 and a 1 year high of $41.80.

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

Chagee Announces Dividend

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

Institutional Investors Weigh In On Chagee

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in Chagee during the second quarter worth approximately $26,000. Quantbot Technologies LP bought a new position in shares of Chagee during the 3rd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Chagee by 3,141.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock worth $34,000 after acquiring an additional 2,796 shares during the last quarter. Geode Capital Management LLC bought a new stake in Chagee in the 4th quarter valued at $147,000. Finally, Federated Hermes Inc. acquired a new stake in Chagee during the 2nd quarter valued at $172,000.

Chagee Company Profile

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.