State of Alaska Department of Revenue raised its holdings in shares of Yum! Brands, Inc. (NYSE:YUM – Get Rating) by 8.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,082 shares of the restaurant operator’s stock after purchasing an additional 4,997 shares during the period. State of Alaska Department of Revenue’s holdings in Yum! Brands were worth $7,500,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Yum! Brands by 28.4% during the 4th quarter. BlackRock Inc. now owns 24,554,583 shares of the restaurant operator’s stock valued at $3,409,651,000 after buying an additional 5,430,918 shares during the period. Norges Bank bought a new position in Yum! Brands in the 4th quarter worth $285,977,000. Candlestick Capital Management LP bought a new position in Yum! Brands in the 1st quarter worth $112,597,000. Capital World Investors raised its holdings in Yum! Brands by 19.6% in the 1st quarter. Capital World Investors now owns 5,507,237 shares of the restaurant operator’s stock worth $652,773,000 after purchasing an additional 901,181 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Yum! Brands by 15.9% in the 1st quarter. Victory Capital Management Inc. now owns 4,066,497 shares of the restaurant operator’s stock worth $481,372,000 after purchasing an additional 558,053 shares during the period. 70.18% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Yum! Brands
In related news, Director Weir Mirian M. Graddick sold 1,215 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $118.30, for a total transaction of $143,734.50. Following the completion of the transaction, the director now owns 1,233 shares in the company, valued at approximately $145,863.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP David Eric Russell sold 4,454 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $118.52, for a total value of $527,888.08. Following the sale, the vice president now directly owns 17,266 shares in the company, valued at approximately $2,046,366.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Weir Mirian M. Graddick sold 1,215 shares of Yum! Brands stock in a transaction on Friday, August 12th. The stock was sold at an average price of $118.30, for a total transaction of $143,734.50. Following the sale, the director now owns 1,233 shares in the company, valued at $145,863.90. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.
Yum! Brands Price Performance
Yum! Brands (NYSE:YUM – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The restaurant operator reported $1.05 earnings per share 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 business earned $1.16 EPS. As a group, research analysts anticipate that Yum! Brands, Inc. will post 4.54 EPS for the current fiscal year.
Yum! Brands declared that its Board of Directors has initiated a stock buyback program on Monday, September 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the restaurant operator to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Yum! Brands Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 29th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Friday, August 26th. Yum! Brands’s payout ratio is 45.69%.
Analyst Ratings Changes
YUM has been the topic of a number of recent research reports. Citigroup decreased their target price on Yum! Brands from $148.00 to $145.00 in a report on Thursday, July 21st. The Goldman Sachs Group raised Yum! Brands from a “sell” rating to a “buy” rating and raised their price target for the company from $125.00 to $135.00 in a report on Monday, July 18th. Morgan Stanley decreased their price target on Yum! Brands from $146.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, July 18th. Sanford C. Bernstein assumed coverage on Yum! Brands in a report on Wednesday, September 7th. They set an “outperform” rating and a $144.00 price target on the stock. Finally, Argus cut Yum! Brands from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Yum! Brands presently has an average rating of “Moderate Buy” and a consensus price target of $137.93.
Yum! Brands 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.
- Get a free copy of the StockNews.com research report on Yum! Brands (YUM)
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