Klingenstein Fields & Co. LP Sells 2,493 Shares of Yum! Brands, Inc. (NYSE:YUM)

Klingenstein Fields & Co. LP cut its stake in Yum! Brands, Inc. (NYSE:YUM) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,465 shares of the restaurant operator’s stock after selling 2,493 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Yum! Brands were worth $16,124,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Yum! Brands in the 4th quarter valued at about $418,692,000. GAMMA Investing LLC increased its stake in shares of Yum! Brands by 14,795.6% during the first quarter. GAMMA Investing LLC now owns 769,805 shares of the restaurant operator’s stock worth $121,137,000 after purchasing an additional 764,637 shares during the period. Northern Trust Corp lifted its holdings in Yum! Brands by 20.4% during the 4th quarter. Northern Trust Corp now owns 3,545,872 shares of the restaurant operator’s stock worth $475,714,000 after purchasing an additional 601,361 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Yum! Brands in the 4th quarter valued at $59,289,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Yum! Brands in the 4th quarter valued at $43,944,000. Institutional investors and hedge funds own 82.37% of the company’s stock.

Analyst Upgrades and Downgrades

YUM has been the subject of a number of research reports. The Goldman Sachs Group raised Yum! Brands from a “neutral” rating to a “buy” rating and set a $167.00 target price for the company in a report on Wednesday, June 4th. Piper Sandler boosted their price objective on shares of Yum! Brands from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Barclays raised their target price on shares of Yum! Brands from $163.00 to $167.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. TD Securities reiterated a “hold” rating and issued a $158.00 price target on shares of Yum! Brands in a research note on Wednesday, April 30th. Finally, Robert W. Baird lowered their price objective on Yum! Brands from $176.00 to $174.00 and set an “outperform” rating on the stock in a research note on Monday, April 7th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Yum! Brands has an average rating of “Hold” and an average target price of $157.86.

Yum! Brands Price Performance

YUM opened at $150.36 on Wednesday. The firm has a market capitalization of $41.79 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 2.23 and a beta of 0.74. Yum! Brands, Inc. has a one year low of $122.13 and a one year high of $163.30. The company has a fifty day moving average price of $145.50 and a 200-day moving average price of $143.76.

Yum! Brands (NYSE:YUM) last posted its earnings results on Wednesday, April 30th. The restaurant operator reported $1.30 EPS for the quarter, topping the consensus estimate of $1.29 by $0.01. Yum! Brands had a negative return on equity of 20.80% and a net margin of 18.42%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, analysts expect that Yum! Brands, Inc. will post 5.94 earnings per share for the current year.

Yum! Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 27th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, May 27th. Yum! Brands’s dividend payout ratio is currently 56.57%.

Insider Activity at Yum! Brands

In other Yum! Brands news, CEO Scott Mezvinsky sold 272 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $148.28, for a total value of $40,332.16. Following the completion of the transaction, the chief executive officer owned 1,755 shares of the company’s stock, valued at $260,231.40. The trade was a 13.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David W. Gibbs sold 7,063 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $145.57, for a total transaction of $1,028,160.91. Following the completion of the transaction, the chief executive officer owned 157,893 shares of the company’s stock, valued at $22,984,484.01. This trade represents a 4.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,742 shares of company stock valued at $1,861,504. 0.33% of the stock is currently owned by company insiders.

About Yum! Brands

Yum! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. The company operates through the KFC Division, the Taco Bell Division, the Pizza Hut Division, and the Habit Burger Grill Division segments. It also operates restaurants under the KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill brands, which specialize in chicken, pizza, made-to-order chargrilled burgers, sandwiches, Mexican-style food categories, and other food products.