Marshall Wace LLP increased its holdings in Yum! Brands, Inc. (NYSE:YUM) by 761.8% during the 3rd quarter, Holdings Channel reports. The firm owned 354,929 shares of the restaurant operator’s stock after buying an additional 313,743 shares during the period. Marshall Wace LLP’s holdings in Yum! Brands were worth $32,267,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Asset Advisors Investment Management LLC bought a new position in Yum! Brands during the third quarter valued at $136,000. Willingdon Wealth Management increased its position in Yum! Brands by 2,110.0% during the third quarter. Willingdon Wealth Management now owns 1,768 shares of the restaurant operator’s stock valued at $161,000 after acquiring an additional 1,688 shares during the last quarter. Legacy Financial Advisors Inc. increased its position in Yum! Brands by 54.3% during the third quarter. Legacy Financial Advisors Inc. now owns 2,057 shares of the restaurant operator’s stock valued at $187,000 after acquiring an additional 724 shares during the last quarter. Douglass Winthrop Advisors LLC bought a new position in Yum! Brands during the third quarter valued at $201,000. Finally, Cpwm LLC bought a new position in Yum! Brands during the third quarter valued at $202,000. Institutional investors own 70.89% of the company’s stock.
In related news, VP David Eric Russell sold 7,340 shares of the company’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $90.00, for a total value of $660,600.00. Following the completion of the sale, the vice president now directly owns 25,960 shares of the company’s stock, valued at $2,336,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Roger G. Eaton sold 44,823 shares of the company’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $90.54, for a total transaction of $4,058,274.42. Following the completion of the sale, the chief executive officer now directly owns 160,726 shares of the company’s stock, valued at $14,552,132.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,289 shares of company stock valued at $6,401,458. 0.63% of the stock is owned by insiders.
A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Yum! Brands from a “buy” rating to a “hold” rating in a research report on Saturday, December 1st. Cowen reiterated a “buy” rating and set a $100.00 price objective on shares of Yum! Brands in a research report on Sunday, December 2nd. BTIG Research boosted their price objective on shares of Yum! Brands from $92.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. Gordon Haskett assumed coverage on shares of Yum! Brands in a research report on Thursday, October 18th. They set a “hold” rating and a $90.00 price objective on the stock. Finally, KeyCorp assumed coverage on shares of Yum! Brands in a research report on Wednesday, October 3rd. They set a “sector weight” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Yum! Brands has an average rating of “Hold” and an average target price of $91.31.
Shares of NYSE YUM traded up $0.04 during mid-day trading on Friday, reaching $91.54. The company had a trading volume of 43,871 shares, compared to its average volume of 2,026,532. The stock has a market cap of $28.32 billion, a PE ratio of 31.08, a PEG ratio of 1.91 and a beta of 0.80. Yum! Brands, Inc. has a 52 week low of $75.88 and a 52 week high of $93.24.
Yum! Brands (NYSE:YUM) last posted its quarterly earnings results on Wednesday, October 31st. The restaurant operator reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.21. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Yum! Brands had a net margin of 28.81% and a negative return on equity of 17.89%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. Research analysts forecast that Yum! Brands, Inc. will post 3.72 earnings per share for the current year.
Yum! Brands announced that its board has authorized a share buyback program on Friday, August 10th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the restaurant operator to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Monday, November 26th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, November 23rd. Yum! Brands’s payout ratio is presently 48.65%.
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About Yum! Brands
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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