First National Bank & Trust Co. of Newtown lowered its holdings in shares of Yum! Brands, Inc. (NYSE:YUM) by 7.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,874 shares of the restaurant operator’s stock after selling 904 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Yum! Brands were worth $1,080,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC grew its stake in Yum! Brands by 447.8% in the second quarter. Millennium Management LLC now owns 1,404,786 shares of the restaurant operator’s stock valued at $109,882,000 after acquiring an additional 1,148,364 shares during the period. Alps Advisors Inc. boosted its position in shares of Yum! Brands by 35,520.9% during the second quarter. Alps Advisors Inc. now owns 920,088 shares of the restaurant operator’s stock valued at $75,097,000 after buying an additional 917,505 shares during the last quarter. BlackRock Inc. boosted its position in shares of Yum! Brands by 3.8% during the second quarter. BlackRock Inc. now owns 21,758,890 shares of the restaurant operator’s stock valued at $1,701,978,000 after buying an additional 802,066 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Yum! Brands during the second quarter valued at approximately $41,120,000. Finally, Acadian Asset Management LLC boosted its position in shares of Yum! Brands by 419.3% during the second quarter. Acadian Asset Management LLC now owns 598,783 shares of the restaurant operator’s stock valued at $46,838,000 after buying an additional 483,467 shares during the last quarter. 71.08% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on YUM. Stifel Nicolaus cut Yum! Brands from a “buy” rating to a “hold” rating and set a $94.00 target price on the stock. in a research report on Tuesday, October 23rd. Gordon Haskett began coverage on Yum! Brands in a research report on Thursday, October 18th. They set a “hold” rating and a $90.00 target price on the stock. Zacks Investment Research cut Yum! Brands from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. BTIG Research lifted their target price on Yum! Brands from $92.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. Finally, KeyCorp began coverage on Yum! Brands in a research report on Wednesday, October 3rd. They set a “sector weight” rating on the stock. Fourteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $88.56.
Yum! Brands stock traded up $0.57 during mid-day trading on Tuesday, reaching $86.04. 17,302 shares of the company’s stock were exchanged, compared to its average volume of 1,769,253. The firm has a market capitalization of $27.22 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86. Yum! Brands, Inc. has a one year low of $74.26 and a one year high of $92.21.
Yum! Brands (NYSE:YUM) last issued its quarterly earnings results on Thursday, August 2nd. The restaurant operator reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Yum! Brands had a negative return on equity of 17.36% and a net margin of 27.95%. Yum! Brands’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share. On average, research analysts anticipate that Yum! Brands, Inc. will post 3.5 EPS for the current fiscal year.
Yum! Brands announced that its Board of Directors has approved a share buyback program on Friday, August 10th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the restaurant operator to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
About Yum! Brands
YUM! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. It operates in three segments: the KFC Division, the Pizza Hut Division, and the Taco Bell Division. The company operates restaurants under the KFC, Pizza Hut, and Taco Bell brands, which specialize in chicken, pizza, and Mexican-style food categories.
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