California Public Employees Retirement System lifted its stake in Yum! Brands, Inc. (NYSE:YUM) by 19.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,999,881 shares of the restaurant operator’s stock after buying an additional 327,242 shares during the quarter. California Public Employees Retirement System’s holdings in Yum! Brands were worth $199,608,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of YUM. TIAA CREF Investment Management LLC lifted its stake in Yum! Brands by 37.4% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,424,785 shares of the restaurant operator’s stock valued at $129,527,000 after acquiring an additional 388,027 shares during the period. Legal & General Group Plc lifted its stake in Yum! Brands by 4.8% during the 3rd quarter. Legal & General Group Plc now owns 1,756,233 shares of the restaurant operator’s stock valued at $159,642,000 after acquiring an additional 80,542 shares during the period. Morgan Stanley lifted its stake in Yum! Brands by 8.7% during the 3rd quarter. Morgan Stanley now owns 1,449,142 shares of the restaurant operator’s stock valued at $131,742,000 after acquiring an additional 116,110 shares during the period. Great Lakes Advisors LLC acquired a new stake in Yum! Brands during the 3rd quarter valued at approximately $559,000. Finally, Federated Investors Inc. PA lifted its stake in Yum! Brands by 608.2% during the 3rd quarter. Federated Investors Inc. PA now owns 721,958 shares of the restaurant operator’s stock valued at $65,633,000 after acquiring an additional 620,015 shares during the period. 75.02% of the stock is owned by institutional investors and hedge funds.
YUM has been the subject of several analyst reports. Goldman Sachs Group cut shares of Yum! Brands from a “neutral” rating to a “sell” rating and decreased their target price for the company from $83.00 to $76.00 in a research note on Friday, January 11th. Zacks Investment Research cut shares of Yum! Brands from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. Robert W. Baird reiterated an “outperform” rating and issued a $112.00 target price on shares of Yum! Brands in a research note on Monday, April 29th. JPMorgan Chase & Co. cut shares of Yum! Brands from an “overweight” rating to a “neutral” rating and set a $94.00 target price for the company. in a research note on Tuesday, March 19th. Finally, BMO Capital Markets boosted their target price on shares of Yum! Brands to $100.00 and gave the company a “market perform” rating in a research note on Friday, February 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $98.17.
Yum! Brands (NYSE:YUM) last posted its earnings results on Wednesday, May 1st. The restaurant operator reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Yum! Brands had a net margin of 24.61% and a negative return on equity of 13.06%. The business’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Research analysts anticipate that Yum! Brands, Inc. will post 3.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Thursday, May 16th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, May 15th. Yum! Brands’s payout ratio is presently 53.00%.
In related news, CEO Greg Creed sold 32,502 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $94.31, for a total value of $3,065,263.62. Following the completion of the sale, the chief executive officer now owns 38,119 shares of the company’s stock, valued at approximately $3,595,002.89. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP David Eric Russell sold 5,872 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $100.00, for a total transaction of $587,200.00. Following the completion of the sale, the vice president now directly owns 23,653 shares of the company’s stock, valued at approximately $2,365,300. The disclosure for this sale can be found here. In the last three months, insiders sold 79,486 shares of company stock valued at $7,556,673. 0.67% of the stock is owned by insiders.
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Yum! Brands Company Profile
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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