Cullen Frost Bankers Inc. lowered its stake in shares of Yum! Brands, Inc. (NYSE:YUM) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,048 shares of the restaurant operator’s stock after selling 2,315 shares during the period. Cullen Frost Bankers Inc.’s holdings in Yum! Brands were worth $3,550,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Asset Advisors Investment Management LLC purchased a new stake in shares of Yum! Brands during the 3rd quarter valued at $136,000. Cerebellum GP LLC purchased a new stake in shares of Yum! Brands during the 2nd quarter valued at $172,000. Qube Research & Technologies Ltd purchased a new stake in shares of Yum! Brands during the 2nd quarter valued at $199,000. Douglass Winthrop Advisors LLC purchased a new stake in shares of Yum! Brands during the 3rd quarter valued at $201,000. Finally, ACG Wealth purchased a new stake in shares of Yum! Brands during the 3rd quarter valued at $202,000. Institutional investors own 71.08% of the company’s stock.
Several analysts have recently commented on the company. Stifel Nicolaus lowered Yum! Brands from a “buy” rating to a “hold” rating and set a $94.00 price objective for the company. in a report on Tuesday, October 23rd. Gordon Haskett assumed coverage on Yum! Brands in a report on Thursday, October 18th. They set a “hold” rating and a $90.00 price objective for the company. Zacks Investment Research upgraded Yum! Brands from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Wednesday, October 17th. BTIG Research increased their price objective on Yum! Brands from $92.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $88.00 price objective on shares of Yum! Brands in a report on Friday, August 3rd. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $88.76.
Yum! Brands (NYSE:YUM) last issued its earnings results on Thursday, August 2nd. The restaurant operator reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.08. The company had revenue of $1.37 billion during 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%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. As a group, analysts forecast that Yum! Brands, Inc. will post 3.5 earnings per share for the current fiscal year.
Yum! Brands declared that its Board of Directors has initiated a share buyback program on Friday, August 10th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the restaurant operator to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, CFO David W. Gibbs sold 6,366 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $87.87, for a total value of $559,380.42. Following the completion of the transaction, the chief financial officer now owns 47,764 shares in the company, valued at approximately $4,197,022.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David W. Gibbs sold 6,369 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $87.83, for a total value of $559,389.27. Following the completion of the transaction, the chief financial officer now owns 47,701 shares of the company’s stock, valued at approximately $4,189,578.83. The disclosure for this sale can be found here. Insiders sold a total of 20,075 shares of company stock valued at $1,779,370 in the last 90 days. 0.63% of the stock is currently owned by company insiders.
Yum! Brands Profile
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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