Daiwa Securities Group Inc. reduced its position in Yum! Brands, Inc. (NYSE:YUM) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,869 shares of the restaurant operator’s stock after selling 1,540 shares during the period. Daiwa Securities Group Inc.’s holdings in Yum! Brands were worth $2,352,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Advisors Investment Management LLC bought a new position in Yum! Brands during the 3rd quarter valued at $136,000. Willingdon Wealth Management lifted its stake in Yum! Brands by 2,110.0% during the 3rd quarter. Willingdon Wealth Management now owns 1,768 shares of the restaurant operator’s stock valued at $161,000 after acquiring an additional 1,688 shares in the last quarter. Legacy Financial Advisors Inc. lifted its stake in Yum! Brands by 54.3% during the 3rd quarter. Legacy Financial Advisors Inc. now owns 2,057 shares of the restaurant operator’s stock valued at $187,000 after acquiring an additional 724 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Yum! Brands during the 2nd quarter valued at $199,000. Finally, Douglass Winthrop Advisors LLC bought a new position in Yum! Brands during the 3rd quarter valued at $201,000. Institutional investors own 71.08% of the company’s stock.
Several equities analysts have weighed in on the company. Robert W. Baird raised their price objective on Yum! Brands from $94.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. Gordon Haskett assumed coverage on Yum! Brands in a research note on Thursday, October 18th. They set a “hold” rating and a $90.00 price objective on the stock. Stifel Nicolaus cut Yum! Brands from a “buy” rating to a “hold” rating and set a $94.00 price objective on the stock. in a research note on Tuesday, October 23rd. Zacks Investment Research upgraded Yum! Brands from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research note on Wednesday, October 17th. Finally, BTIG Research raised their price objective on Yum! Brands from $92.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, October 10th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Yum! Brands presently has an average rating of “Hold” and an average target price of $91.00.
YUM stock opened at $90.72 on Friday. The stock has a market cap of $27.90 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 1.86 and a beta of 0.85. Yum! Brands, Inc. has a twelve month low of $75.88 and a twelve month high of $92.21.
Yum! Brands (NYSE:YUM) last issued its quarterly earnings results on Wednesday, October 31st. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.21. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. Yum! Brands had a negative return on equity of 17.89% and a net margin of 28.81%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. As a group, equities research analysts expect that Yum! Brands, Inc. will post 3.7 earnings per share for the current fiscal year.
Yum! Brands announced that its Board of Directors has initiated a share buyback plan on Friday, August 10th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the restaurant operator to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, CEO Roger G. Eaton sold 44,823 shares of Yum! Brands stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $90.54, for a total transaction of $4,058,274.42. Following the completion of the sale, the chief executive officer now owns 160,726 shares in the company, valued at approximately $14,552,132.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP David Eric Russell sold 7,340 shares of Yum! Brands stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $90.00, for a total value of $660,600.00. Following the sale, the vice president now owns 25,960 shares of the company’s stock, valued at approximately $2,336,400. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,898 shares of company stock valued at $5,837,644. Corporate insiders own 0.63% of the company’s stock.
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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