Utah Retirement Systems cut its stake in shares of Yum! Brands, Inc. (NYSE:YUM) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,074 shares of the restaurant operator’s stock after selling 900 shares during the quarter. Utah Retirement Systems’ holdings in Yum! Brands were worth $5,370,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Street Advisors Inc. NC raised its holdings in Yum! Brands by 0.7% during the third quarter. Franklin Street Advisors Inc. NC now owns 90,149 shares of the restaurant operator’s stock worth $8,195,000 after buying an additional 594 shares during the last quarter. Howland Capital Management LLC raised its holdings in Yum! Brands by 0.4% during the third quarter. Howland Capital Management LLC now owns 162,136 shares of the restaurant operator’s stock worth $14,740,000 after buying an additional 600 shares during the last quarter. Stock Yards Bank & Trust Co. raised its holdings in Yum! Brands by 3.1% during the third quarter. Stock Yards Bank & Trust Co. now owns 20,082 shares of the restaurant operator’s stock worth $1,826,000 after buying an additional 603 shares during the last quarter. People s United Financial Inc. raised its holdings in Yum! Brands by 4.7% during the third quarter. People s United Financial Inc. now owns 13,632 shares of the restaurant operator’s stock worth $1,240,000 after buying an additional 618 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its holdings in Yum! Brands by 11.1% during the third quarter. Bradley Foster & Sargent Inc. CT now owns 6,545 shares of the restaurant operator’s stock worth $595,000 after buying an additional 653 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on YUM shares. ValuEngine upgraded shares of Yum! Brands from a “hold” rating to a “buy” rating in a report on Friday, September 7th. UBS Group set a $99.00 price objective on shares of Yum! Brands and gave the stock a “buy” rating in a report on Monday, September 10th. KeyCorp started coverage on shares of Yum! Brands in a report on Wednesday, October 3rd. They set a “sector weight” rating on the stock. BTIG Research upped their price objective on shares of Yum! Brands from $92.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, October 10th. Finally, Zacks Investment Research upgraded shares of Yum! Brands from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a report on Wednesday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.31.
Yum! Brands (NYSE:YUM) last announced its earnings results on Wednesday, October 31st. The restaurant operator reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.21. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. Yum! Brands had a net margin of 28.81% and a negative return on equity of 17.89%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. As a group, sell-side analysts expect that Yum! Brands, Inc. will post 3.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Monday, November 26th will be issued a $0.36 dividend. The ex-dividend date is Friday, November 23rd. This represents a $1.44 annualized dividend and a dividend yield of 1.59%. Yum! Brands’s dividend payout ratio is currently 48.65%.
Yum! Brands announced that its Board of Directors has approved a stock buyback plan on Friday, August 10th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the restaurant operator to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, CFO David W. Gibbs sold 6,369 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $87.83, for a total value of $559,389.27. Following the completion of the sale, the chief financial officer now owns 47,701 shares in the company, valued at $4,189,578.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David Eric Russell sold 7,340 shares of the stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $90.00, for a total transaction of $660,600.00. Following the completion of the sale, the vice president now owns 25,960 shares of the company’s stock, valued at approximately $2,336,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,289 shares of company stock valued at $6,401,458. 0.63% of the stock is currently owned by corporate insiders.
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Yum! Brands Company 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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