M&R Capital Management Inc. decreased its stake in Yum! Brands, Inc. (NYSE:YUM) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,296 shares of the restaurant operator’s stock after selling 1,000 shares during the period. M&R Capital Management Inc.’s holdings in Yum! Brands were worth $831,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Yum! Brands in the second quarter valued at approximately $102,713,000. Bank of New York Mellon Corp raised its position in shares of Yum! Brands by 18.2% in the third quarter. Bank of New York Mellon Corp now owns 7,910,196 shares of the restaurant operator’s stock valued at $582,270,000 after purchasing an additional 1,220,537 shares during the period. Prudential Financial Inc. raised its position in shares of Yum! Brands by 224.3% in the second quarter. Prudential Financial Inc. now owns 1,549,775 shares of the restaurant operator’s stock valued at $114,311,000 after purchasing an additional 1,071,899 shares during the period. Frontier Capital Management Co. LLC bought a new stake in shares of Yum! Brands in the second quarter valued at approximately $56,123,000. Finally, Vanguard Group Inc. raised its position in shares of Yum! Brands by 3.3% in the second quarter. Vanguard Group Inc. now owns 22,604,873 shares of the restaurant operator’s stock valued at $1,667,335,000 after purchasing an additional 711,910 shares during the period. 73.90% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of Yum! Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, September 8th. Robert W. Baird reaffirmed a “hold” rating and set a $78.00 price objective on shares of Yum! Brands in a research note on Friday, September 8th. Jefferies Group boosted their price objective on shares of Yum! Brands from $66.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, November 3rd. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $80.00 price objective on shares of Yum! Brands in a research note on Monday, October 2nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $77.00 price objective (up previously from $66.00) on shares of Yum! Brands in a research note on Wednesday, August 9th. Twelve equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Yum! Brands has an average rating of “Buy” and an average price target of $80.95.
Yum! Brands (NYSE:YUM) last released its quarterly earnings results on Thursday, November 2nd. The restaurant operator reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. Yum! Brands had a net margin of 18.51% and a negative return on equity of 17.19%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. sell-side analysts forecast that Yum! Brands, Inc. will post 2.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.44%. Yum! Brands’s dividend payout ratio is presently 37.04%.
Yum! Brands announced that its Board of Directors has authorized a share buyback program on Friday, November 17th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the restaurant operator to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other news, CFO David W. Gibbs sold 4,318 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $80.56, for a total value of $347,858.08. Following the completion of the sale, the chief financial officer now directly owns 39,396 shares in the company, valued at approximately $3,173,741.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian R. Niccol sold 927 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $83.46, for a total transaction of $77,367.42. The disclosure for this sale can be found here. In the last three months, insiders sold 8,833 shares of company stock valued at $711,907. Corporate insiders own 7.38% of the company’s stock.
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Yum! Brands Company Profile
YUM! Brands, Inc is engaged in restaurant business. As of December 31, 2016, the Company operated or franchised over 43,500 restaurants in more than 135 countries and territories operating under the KFC, Pizza Hut or Taco Bell (collectively the Concepts) brands. The Company operates through three segments: The KFC Division, which includes the operations of the KFC concept around the world; The Pizza Hut Division, which includes the operations of the Pizza Hut concept around the world, and The Taco Bell Division, which includes the operations of the Taco Bell concept around the world.
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