Equitable Holdings Inc. acquired a new position in shares of Yum! Brands, Inc. (NYSE:YUM – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 3,484 shares of the restaurant operator’s stock, valued at approximately $557,000.
A number of other institutional investors have also recently bought and sold shares of YUM. Hsbc Holdings PLC lifted its stake in shares of Yum! Brands by 5.9% in the 4th quarter. Hsbc Holdings PLC now owns 569,676 shares of the restaurant operator’s stock valued at $86,197,000 after purchasing an additional 31,836 shares during the last quarter. Bleakley Financial Group LLC acquired a new stake in shares of Yum! Brands in the first quarter worth about $1,589,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Yum! Brands by 5.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 584,953 shares of the restaurant operator’s stock worth $88,030,000 after buying an additional 30,075 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Yum! Brands during the 4th quarter worth about $1,264,000. Finally, QRG Capital Management Inc. increased its holdings in shares of Yum! Brands by 19.8% during the 1st quarter. QRG Capital Management Inc. now owns 103,807 shares of the restaurant operator’s stock valued at $16,140,000 after acquiring an additional 17,189 shares during the last quarter. Institutional investors and hedge funds own 82.37% of the company’s stock.
Yum! Brands Stock Up 2.2%
Shares of YUM opened at $154.08 on Friday. The stock’s 50-day moving average price is $153.48 and its 200 day moving average price is $155.81. The firm has a market capitalization of $42.05 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 2.50 and a beta of 0.55. Yum! Brands, Inc. has a 12-month low of $137.33 and a 12-month high of $170.14.
Yum! Brands Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.75 per share. The ex-dividend date is Wednesday, September 9th. This represents a $3.00 dividend on an annualized basis and a yield of 1.9%. Yum! Brands’s payout ratio is currently 37.74%.
Yum! Brands declared that its board has approved a share buyback plan on Tuesday, June 16th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the restaurant operator to purchase up to 9.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. Evercore restated an “outperform” rating on shares of Yum! Brands in a report on Tuesday, June 16th. TD Cowen reissued a “buy” rating and issued a $180.00 price target on shares of Yum! Brands in a research report on Tuesday, June 16th. Morgan Stanley upgraded shares of Yum! Brands from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $180.00 to $185.00 in a research note on Wednesday, June 3rd. Argus lowered their target price on shares of Yum! Brands from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $174.00 target price on shares of Yum! Brands in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.65.
Check Out Our Latest Report on Yum! Brands
Insider Transactions at Yum! Brands
In other news, VP David Eric Russell sold 7,961 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $153.15, for a total value of $1,219,227.15. Following the completion of the transaction, the vice president owned 11,960 shares in the company, valued at approximately $1,831,674. This represents a 39.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott Mezvinsky sold 268 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $153.15, for a total transaction of $41,044.20. Following the transaction, the chief executive officer directly owned 483 shares of the company’s stock, valued at $73,971.45. The trade was a 35.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 19,043 shares of company stock worth $2,978,180. 0.14% of the stock is currently owned by company insiders.
Yum! Brands Company Profile
Yum! Brands, Inc (NYSE: YUM) is a global quick-service restaurant company that develops, operates and franchises a portfolio of well-known restaurant brands. The company’s principal brands are KFC, Pizza Hut and Taco Bell, each focused on distinct product categories—KFC on fried chicken and related menu items, Pizza Hut on pizza and complementary offerings, and Taco Bell on Mexican-inspired quick-service food. Yum! is headquartered in Louisville, Kentucky and was formed as Tricon Global Restaurants in 1997 when PepsiCo spun off its restaurant businesses, later adopting the Yum! Brands name.
The company’s operating model centers on brand development, system growth and franchising; a large portion of its restaurants are operated by independent franchisees, and Yum! generates revenue through franchise royalties and fees in addition to sales from company-operated locations.
Featured Articles
- Five stocks we like better than Yum! Brands
- From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens
- These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash
- Venture Into High-Volatility Corners of the Market With These 3 ETFs
- 3 Retail Stocks to Watch After a Big Consumer Earnings Week
Want to see what other hedge funds are holding YUM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Yum! Brands, Inc. (NYSE:YUM – Free Report).
Receive News & Ratings for Yum! Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yum! Brands and related companies with MarketBeat.com's FREE daily email newsletter.
