Bank of America Corp DE lessened its stake in shares of Yum! Brands, Inc. (NYSE:YUM – Get Rating) by 4.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,720,625 shares of the restaurant operator’s stock after selling 166,620 shares during the period. Bank of America Corp DE’s holdings in Yum! Brands were worth $441,006,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Yum! Brands by 28.4% during the fourth quarter. BlackRock Inc. now owns 24,554,583 shares of the restaurant operator’s stock valued at $3,409,651,000 after acquiring an additional 5,430,918 shares in the last quarter. Norges Bank purchased a new position in Yum! Brands during the fourth quarter valued at approximately $285,977,000. Candlestick Capital Management LP purchased a new position in Yum! Brands during the first quarter valued at approximately $112,597,000. Capital World Investors grew its stake in Yum! Brands by 19.6% during the first quarter. Capital World Investors now owns 5,507,237 shares of the restaurant operator’s stock valued at $652,773,000 after acquiring an additional 901,181 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Yum! Brands by 15.9% during the first quarter. Victory Capital Management Inc. now owns 4,066,497 shares of the restaurant operator’s stock valued at $481,372,000 after acquiring an additional 558,053 shares in the last quarter. Hedge funds and other institutional investors own 70.18% of the company’s stock.
Wall Street Analyst Weigh In
YUM has been the subject of several recent analyst reports. Argus cut shares of Yum! Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Barclays dropped their target price on shares of Yum! Brands from $124.00 to $120.00 and set an “equal weight” rating for the company in a research report on Thursday, June 9th. Morgan Stanley lowered their price objective on shares of Yum! Brands from $146.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Sanford C. Bernstein began coverage on shares of Yum! Brands in a report on Wednesday, September 7th. They issued an “outperform” rating and a $144.00 price objective for the company. Finally, The Goldman Sachs Group upgraded shares of Yum! Brands from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $125.00 to $135.00 in a report on Monday, July 18th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $137.93.
Insider Buying and Selling at Yum! Brands
Yum! Brands Stock Up 0.5 %
Shares of NYSE YUM opened at $115.72 on Monday. Yum! Brands, Inc. has a 52 week low of $108.37 and a 52 week high of $139.85. The firm’s fifty day moving average is $117.05 and its 200 day moving average is $116.90. The company has a market cap of $32.93 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.14 and a beta of 1.03.
Yum! Brands (NYSE:YUM – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The restaurant operator reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Yum! Brands had a net margin of 22.17% and a negative return on equity of 15.45%. During the same quarter in the previous year, the company earned $1.16 EPS. Equities research analysts anticipate that Yum! Brands, Inc. will post 4.54 earnings per share for the current year.
Yum! Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 29th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Friday, August 26th. Yum! Brands’s payout ratio is currently 45.69%.
Yum! Brands declared that its Board of Directors has initiated a share buyback program on Monday, September 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the restaurant operator to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Yum! Brands Company Profile
YUM! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. It operates through four segments: the KFC Division, the Taco Bell Division, the Pizza Hut Division, and the Habit Burger Grill Division. The company operates restaurants under the KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill brands, which specialize in chicken, pizza, made-to-order chargrilled burgers, sandwiches, Mexican-style food categories, and other food products.
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