Occidental Asset Management LLC lowered its stake in Yum! Brands, Inc. (NYSE:YUM) by 12.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,560 shares of the restaurant operator’s stock after selling 503 shares during the quarter. Occidental Asset Management LLC’s holdings in Yum! Brands were worth $394,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Cullen Frost Bankers Inc. raised its stake in Yum! Brands by 10.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 43,072 shares of the restaurant operator’s stock worth $4,767,000 after buying an additional 4,248 shares during the period. TRUE Private Wealth Advisors acquired a new stake in Yum! Brands during the 2nd quarter worth $54,000. Jacobs & Co. CA raised its stake in Yum! Brands by 0.8% during the 2nd quarter. Jacobs & Co. CA now owns 36,828 shares of the restaurant operator’s stock worth $4,075,000 after buying an additional 303 shares during the period. Ardevora Asset Management LLP raised its stake in Yum! Brands by 1.0% during the 2nd quarter. Ardevora Asset Management LLP now owns 313,424 shares of the restaurant operator’s stock worth $34,687,000 after buying an additional 3,100 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in Yum! Brands by 58.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 512,792 shares of the restaurant operator’s stock worth $56,786,000 after buying an additional 190,006 shares during the period. 74.97% of the stock is currently owned by institutional investors.
Shares of NYSE YUM traded up $0.52 during midday trading on Thursday, reaching $116.07. 625,634 shares of the company were exchanged, compared to its average volume of 1,465,942. The company’s 50-day moving average price is $113.16. The stock has a market capitalization of $35.49 billion, a PE ratio of 36.62, a P/E/G ratio of 2.46 and a beta of 0.53. Yum! Brands, Inc. has a one year low of $82.14 and a one year high of $119.72.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Monday, August 19th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.45%. Yum! Brands’s payout ratio is presently 53.00%.
In related news, CEO Greg Creed sold 44,949 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $105.82, for a total value of $4,756,503.18. Following the sale, the chief executive officer now owns 158,745 shares of the company’s stock, valued at $16,798,395.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Scott Catlett sold 1,015 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $116.63, for a total transaction of $118,379.45. Following the completion of the sale, the general counsel now directly owns 5,376 shares in the company, valued at approximately $627,002.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,162 shares of company stock worth $5,888,587. Insiders own 0.67% of the company’s stock.
YUM has been the topic of several research analyst reports. Tigress Financial reaffirmed a “buy” rating on shares of Yum! Brands in a research note on Friday, July 12th. BTIG Research raised their price objective on Yum! Brands to $130.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their price objective on Yum! Brands from $100.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. MKM Partners began coverage on Yum! Brands in a report on Tuesday. They set a “neutral” rating and a $125.00 target price for the company. Finally, Credit Suisse Group began coverage on Yum! Brands in a report on Tuesday, June 25th. They set a “neutral” rating and a $106.00 target price for the company. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $110.65.
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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