State of Michigan Retirement System increased its position in shares of Yum! Brands, Inc. (NYSE:YUM) by 10.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,895 shares of the restaurant operator’s stock after purchasing an additional 7,541 shares during the quarter. State of Michigan Retirement System’s holdings in Yum! Brands were worth $6,683,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in YUM. State of Alaska Department of Revenue lifted its position in shares of Yum! Brands by 7.6% during the first quarter. State of Alaska Department of Revenue now owns 115,999 shares of the restaurant operator’s stock worth $7,948,000 after purchasing an additional 8,156 shares in the last quarter. J. W. Coons Advisors LLC purchased a new position in Yum! Brands in the 1st quarter valued at about $299,000. Diversified Trust Co purchased a new position in Yum! Brands in the 2nd quarter valued at about $353,000. The Manufacturers Life Insurance Company grew its stake in shares of Yum! Brands by 16.1% during the first quarter. The Manufacturers Life Insurance Company now owns 331,045 shares of the restaurant operator’s stock valued at $22,686,000 after acquiring an additional 45,857 shares in the last quarter. Finally, City Holding Co. increased its position in shares of Yum! Brands by 21.9% during the second quarter. City Holding Co. now owns 13,403 shares of the restaurant operator’s stock worth $1,165,000 after acquiring an additional 2,410 shares during the last quarter. Institutional investors own 74.94% of the company’s stock.
In other news, CEO David W. Gibbs sold 2,251 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $87.68, for a total value of $197,367.68. Following the completion of the transaction, the chief executive officer now owns 76,048 shares of the company’s stock, valued at $6,667,888.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David W. Gibbs sold 2,318 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $91.28, for a total value of $211,587.04. Following the transaction, the chief executive officer now directly owns 76,048 shares in the company, valued at $6,941,661.44. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.
YUM has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Yum! Brands from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. BMO Capital Markets raised their price target on shares of Yum! Brands from $93.00 to $95.00 and gave the stock a “market perform” rating in a research report on Thursday, April 30th. CSFB upped their price target on shares of Yum! Brands from $79.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Stifel Nicolaus raised shares of Yum! Brands from a “hold” rating to a “buy” rating and raised their price objective for the stock from $87.00 to $95.00 in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Yum! Brands from $91.00 to $102.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Seventeen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $101.55.
Shares of YUM opened at $91.05 on Friday. The firm has a fifty day moving average of $89.28 and a 200-day moving average of $89.05. The company has a market cap of $27.40 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 2.58 and a beta of 0.95. Yum! Brands, Inc. has a 1 year low of $54.95 and a 1 year high of $119.72.
Yum! Brands (NYSE:YUM) last issued its quarterly earnings data on Thursday, July 30th. The restaurant operator reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.30. Yum! Brands had a net margin of 18.78% and a negative return on equity of 12.42%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm posted $0.93 EPS. Yum! Brands’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, equities analysts expect that Yum! Brands, Inc. will post 2.89 EPS for the current fiscal year.
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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