Yum! Brands’ (YUM) “Buy” Rating Reaffirmed at Cowen and Company
Yum! Brands, Inc. (NYSE:YUM)‘s stock had its “buy” rating reaffirmed by analysts at Cowen and Company in a research note issued to investors on Friday. They currently have a $91.00 price target on the restaurant operator’s stock. Cowen and Company’s price objective points to a potential upside of 15.32% from the company’s previous close.
Several other brokerages have also issued reports on YUM. Jefferies Group LLC lifted their price target on shares of Yum! Brands from $66.00 to $75.00 and gave the company a “hold” rating in a report on Friday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $80.00 price target on shares of Yum! Brands in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $85.00 price target on shares of Yum! Brands in a report on Monday. Argus reaffirmed a “buy” rating and set a $88.00 price target (up from $80.00) on shares of Yum! Brands in a report on Wednesday, August 23rd. Finally, Zacks Investment Research lowered shares of Yum! Brands from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Eleven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Yum! Brands has a consensus rating of “Buy” and a consensus price target of $80.76.
Shares of Yum! Brands (YUM) traded up $4.60 during trading on Friday, hitting $78.91. 2,583,914 shares of the company traded hands, compared to its average volume of 1,871,481. The company has a market capitalization of $27,288.81, a P/E ratio of 28.27 and a beta of 0.86.
Yum! Brands (NYSE:YUM) last announced its quarterly earnings results on Thursday, November 2nd. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.39 billion. Yum! Brands had a net margin of 18.51% and a negative return on equity of 17.19%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 EPS. analysts predict that Yum! Brands will post 2.79 earnings per share for the current year.
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In other Yum! Brands news, CFO David W. Gibbs sold 8,336 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $74.00, for a total transaction of $616,864.00. Following the transaction, the chief financial officer now owns 39,664 shares in the company, valued at $2,935,136. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 7.38% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Yum! Brands by 3.3% during the second quarter. Vanguard Group Inc. now owns 22,604,873 shares of the restaurant operator’s stock worth $1,667,335,000 after buying an additional 711,910 shares during the last quarter. Magellan Asset Management Ltd raised its holdings in Yum! Brands by 2.0% during the second quarter. Magellan Asset Management Ltd now owns 15,446,852 shares of the restaurant operator’s stock worth $1,139,360,000 after buying an additional 308,387 shares during the last quarter. FMR LLC raised its holdings in Yum! Brands by 9.2% during the second quarter. FMR LLC now owns 3,011,009 shares of the restaurant operator’s stock worth $222,092,000 after buying an additional 254,573 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Yum! Brands by 5.9% during the second quarter. Ameriprise Financial Inc. now owns 2,405,149 shares of the restaurant operator’s stock worth $177,414,000 after buying an additional 133,158 shares during the last quarter. Finally, Coronation Fund Managers Ltd. raised its holdings in Yum! Brands by 8.5% during the second quarter. Coronation Fund Managers Ltd. now owns 2,169,235 shares of the restaurant operator’s stock worth $160,003,000 after buying an additional 170,386 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.
About Yum! Brands
YUM! Brands, Inc is engaged in restaurant business. As of December 31, 2016, the Company operated or franchised over 43,500 restaurants in more than 135 countries and territories operating under the KFC, Pizza Hut or Taco Bell (collectively the Concepts) brands. The Company operates through three segments: The KFC Division, which includes the operations of the KFC concept around the world; The Pizza Hut Division, which includes the operations of the Pizza Hut concept around the world, and The Taco Bell Division, which includes the operations of the Taco Bell concept around the world.
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