Korea Investment CORP lowered its stake in shares of Yum! Brands, Inc. (NYSE:YUM) by 9.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,155 shares of the restaurant operator’s stock after selling 11,200 shares during the quarter. Korea Investment CORP’s holdings in Yum! Brands were worth $8,109,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of YUM. BlackRock Inc. increased its holdings in shares of Yum! Brands by 2,392.9% during the first quarter. BlackRock Inc. now owns 20,053,997 shares of the restaurant operator’s stock valued at $1,281,452,000 after acquiring an additional 19,249,564 shares in the last quarter. Morgan Stanley increased its holdings in shares of Yum! Brands by 82.4% during the first quarter. Morgan Stanley now owns 4,757,237 shares of the restaurant operator’s stock valued at $303,987,000 after acquiring an additional 2,148,751 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Yum! Brands by 208.6% during the first quarter. Renaissance Technologies LLC now owns 2,625,400 shares of the restaurant operator’s stock valued at $167,763,000 after acquiring an additional 1,774,600 shares in the last quarter. Pioneer Investment Management Inc. acquired a new position in shares of Yum! Brands during the second quarter valued at about $104,149,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Yum! Brands during the second quarter valued at about $102,713,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Yum! Brands from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Thursday, July 20th. CIBC upped their price objective on shares of Yum! Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Robert W. Baird restated a “hold” rating and set a $78.00 price objective on shares of Yum! Brands in a report on Thursday, October 12th. BMO Capital Markets upped their price objective on shares of Yum! Brands from $66.00 to $77.00 and gave the company a “market perform” rating in a report on Thursday, August 3rd. Finally, Cowen and Company restated a “buy” rating and set a $85.00 price objective on shares of Yum! Brands in a report on Friday, September 8th. Eleven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $78.57.
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Yum! Brands (NYSE:YUM) last posted its quarterly earnings results on Thursday, August 3rd. The restaurant operator reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.07. Yum! Brands had a negative return on equity of 24.95% and a net margin of 16.76%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.61%. Yum! Brands’s dividend payout ratio (DPR) is presently 33.15%.
In other news, CFO David W. Gibbs sold 8,336 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $74.00, for a total value of $616,864.00. Following the completion of the transaction, the chief financial officer now directly owns 39,664 shares of the company’s stock, valued at $2,935,136. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.38% of the stock is owned by insiders.
About Yum! Brands
YUM! Brands, Inc is engaged in restaurant business. As of December 31, 2016, the Company operated or franchised over 43,500 restaurants in more than 135 countries and territories operating under the KFC, Pizza Hut or Taco Bell (collectively the Concepts) brands. The Company operates through three segments: The KFC Division, which includes the operations of the KFC concept around the world; The Pizza Hut Division, which includes the operations of the Pizza Hut concept around the world, and The Taco Bell Division, which includes the operations of the Taco Bell concept around the world.
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