Royal London Asset Management Ltd. purchased a new stake in shares of Yum! Brands, Inc. (NYSE:YUM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 142,754 shares of the restaurant operator’s stock, valued at approximately $11,170,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of YUM. Millennium Management LLC increased its stake in Yum! Brands by 447.8% during the second quarter. Millennium Management LLC now owns 1,404,786 shares of the restaurant operator’s stock valued at $109,882,000 after acquiring an additional 1,148,364 shares during the period. Alps Advisors Inc. grew its stake in shares of Yum! Brands by 35,520.9% in the 2nd quarter. Alps Advisors Inc. now owns 920,088 shares of the restaurant operator’s stock valued at $75,097,000 after purchasing an additional 917,505 shares during the period. BlackRock Inc. grew its stake in shares of Yum! Brands by 3.8% in the 2nd quarter. BlackRock Inc. now owns 21,758,890 shares of the restaurant operator’s stock valued at $1,701,978,000 after purchasing an additional 802,066 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Yum! Brands in the 2nd quarter valued at approximately $41,120,000. Finally, Acadian Asset Management LLC grew its stake in shares of Yum! Brands by 419.3% in the 2nd quarter. Acadian Asset Management LLC now owns 598,783 shares of the restaurant operator’s stock valued at $46,838,000 after purchasing an additional 483,467 shares during the period. Hedge funds and other institutional investors own 71.37% of the company’s stock.
Several equities research analysts have recently weighed in on YUM shares. UBS Group set a $99.00 price objective on Yum! Brands and gave the company a “buy” rating in a research note on Monday, September 10th. BMO Capital Markets reiterated a “hold” rating and issued a $88.00 price objective on shares of Yum! Brands in a research note on Friday, August 3rd. Citigroup upped their price objective on Yum! Brands from $80.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, June 19th. BTIG Research upgraded Yum! Brands from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 27th. They noted that the move was a valuation call. Finally, ValuEngine lowered Yum! Brands from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Yum! Brands presently has an average rating of “Buy” and an average price target of $86.76.
Yum! Brands (NYSE:YUM) last issued its quarterly earnings data on Thursday, August 2nd. The restaurant operator reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate 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 revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. analysts expect that Yum! Brands, Inc. will post 3.5 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Monday, August 20th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.61%. The ex-dividend date was Friday, August 17th. Yum! Brands’s payout ratio is presently 48.65%.
Yum! Brands declared that its Board of Directors has authorized a stock buyback plan on Friday, August 10th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the restaurant operator to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, 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 transaction of $559,389.27. Following the sale, the chief financial officer now owns 47,701 shares of the company’s stock, valued at approximately $4,189,578.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.
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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