California Public Employees Retirement System grew its stake in shares of Yum! Brands, Inc. (NYSE:YUM) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 932,416 shares of the restaurant operator’s stock after buying an additional 65,954 shares during the period. California Public Employees Retirement System owned 0.28% of Yum! Brands worth $68,635,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC boosted its holdings in shares of Yum! Brands by 11.3% during the third quarter. Janney Montgomery Scott LLC now owns 68,546 shares of the restaurant operator’s stock worth $5,046,000 after purchasing an additional 6,951 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Yum! Brands during the third quarter worth $117,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Yum! Brands by 11.7% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 35,920 shares of the restaurant operator’s stock worth $2,645,000 after purchasing an additional 3,750 shares during the last quarter. Beacon Investment Advisory Services Inc. acquired a new stake in shares of Yum! Brands during the third quarter worth $603,000. Finally, Capital Guardian Trust Co. boosted its holdings in shares of Yum! Brands by 71.5% during the third quarter. Capital Guardian Trust Co. now owns 463,556 shares of the restaurant operator’s stock worth $34,122,000 after purchasing an additional 193,261 shares during the last quarter. Institutional investors and hedge funds own 73.91% of the company’s stock.
YUM has been the topic of several analyst reports. Argus restated a “buy” rating and set a $88.00 price objective (up previously from $80.00) on shares of Yum! Brands in a report on Wednesday, August 23rd. Cowen reiterated a “buy” rating and issued a $85.00 target price on shares of Yum! Brands in a report on Friday, September 8th. Robert W. Baird reiterated a “hold” rating and issued a $78.00 target price on shares of Yum! Brands in a report on Friday, September 8th. Oppenheimer lifted their target price on Yum! Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Finally, CIBC lifted their target price on Yum! Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Twelve investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Yum! Brands presently has a consensus rating of “Buy” and a consensus price target of $80.95.
In other Yum! Brands news, CEO Brian R. Niccol sold 3,588 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $79.90, for a total transaction of $286,681.20. Following the transaction, the chief executive officer now owns 15,075 shares in the company, valued at $1,204,492.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brian R. Niccol sold 927 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $83.46, for a total value of $77,367.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,833 shares of company stock worth $711,907. 0.65% of the stock is currently owned by insiders.
Shares of Yum! Brands, Inc. (NYSE:YUM) traded down $0.46 on Wednesday, hitting $81.99. The company’s stock had a trading volume of 1,628,500 shares, compared to its average volume of 2,202,500. The firm has a market capitalization of $27,785.13, a PE ratio of 29.45, a PEG ratio of 2.30 and a beta of 0.89. Yum! Brands, Inc. has a 12 month low of $62.36 and a 12 month high of $84.29. The company has a debt-to-equity ratio of -1.55, a quick ratio of 1.41 and a current ratio of 1.42.
Yum! Brands (NYSE:YUM) last issued its quarterly earnings data 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. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Yum! Brands had a negative return on equity of 17.19% and a net margin of 18.51%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. analysts predict that Yum! Brands, Inc. will post 2.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, November 14th. Yum! Brands’s dividend payout ratio is presently 37.04%.
Yum! Brands declared that its Board of Directors has approved a share buyback program on Friday, November 17th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the restaurant operator to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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About Yum! Brands
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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