Renaissance Technologies LLC purchased a new stake in Yum! Brands, Inc. (NYSE:YUM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 722,100 shares of the restaurant operator’s stock, valued at approximately $58,931,000. Renaissance Technologies LLC owned approximately 0.21% of Yum! Brands as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Cornerstone Capital Management Holdings LLC. raised its holdings in shares of Yum! Brands by 1.7% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 144,519 shares of the restaurant operator’s stock worth $10,636,000 after buying an additional 2,411 shares in the last quarter. AXA raised its holdings in shares of Yum! Brands by 0.9% in the 3rd quarter. AXA now owns 176,344 shares of the restaurant operator’s stock worth $12,980,000 after buying an additional 1,559 shares in the last quarter. Alkeon Capital Management LLC acquired a new position in shares of Yum! Brands in the 3rd quarter worth approximately $45,086,000. Bank of Montreal Can raised its holdings in shares of Yum! Brands by 3.0% in the 4th quarter. Bank of Montreal Can now owns 486,284 shares of the restaurant operator’s stock worth $39,686,000 after buying an additional 13,975 shares in the last quarter. Finally, Vident Investment Advisory LLC acquired a new position in shares of Yum! Brands in the 3rd quarter worth approximately $425,000. 75.60% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on YUM shares. Edward Jones raised Yum! Brands from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Zacks Investment Research raised Yum! Brands from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Saturday, January 13th. Nomura cut Yum! Brands from a “buy” rating to a “neutral” rating and set a $89.00 target price for the company. in a report on Tuesday, January 30th. Barclays reissued an “equal weight” rating and issued a $84.00 target price (up from $79.00) on shares of Yum! Brands in a report on Tuesday, January 16th. Finally, Deutsche Bank increased their target price on Yum! Brands from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Monday, February 12th. Fourteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Yum! Brands has a consensus rating of “Hold” and an average target price of $82.26.
Yum! Brands (NYSE:YUM) last released its quarterly earnings results on Thursday, February 8th. The restaurant operator reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.16. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.59 billion. Yum! Brands had a negative return on equity of 17.27% and a net margin of 22.80%. Yum! Brands’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 EPS. analysts anticipate that Yum! Brands, Inc. will post 3.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Wednesday, February 14th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 13th. This is a positive change from Yum! Brands’s previous quarterly dividend of $0.30. This represents a $1.44 dividend on an annualized basis and a yield of 1.75%. Yum! Brands’s dividend payout ratio is 28.57%.
Yum! Brands declared that its Board of Directors has approved a share buyback plan on Friday, November 17th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the restaurant operator to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other Yum! Brands news, CEO Brian R. Niccol sold 1,104 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $82.37, for a total value of $90,936.48. Following the transaction, the chief executive officer now directly owns 5,509 shares in the company, valued at approximately $453,776.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian R. Niccol sold 2,294 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $84.90, for a total value of $194,760.60. Following the completion of the transaction, the chief executive officer now owns 10,160 shares in the company, valued at $862,584. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,343 shares of company stock worth $361,203. 0.65% of the stock is owned by corporate insiders.
Yum! Brands Company Profile
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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