Brightworth Invests $5.56 Million in Yum! Brands, Inc. (YUM)
Brightworth purchased a new stake in shares of Yum! Brands, Inc. (NYSE:YUM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 75,547 shares of the restaurant operator’s stock, valued at approximately $5,561,000. Yum! Brands accounts for about 1.3% of Brightworth’s holdings, making the stock its 20th largest position.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Yum! Brands by 2,392.9% in the first quarter. BlackRock Inc. now owns 20,053,997 shares of the restaurant operator’s stock worth $1,281,452,000 after acquiring an additional 19,249,564 shares in the last quarter. Morgan Stanley boosted its holdings in Yum! Brands by 82.4% in the first quarter. Morgan Stanley now owns 4,757,237 shares of the restaurant operator’s stock worth $303,987,000 after acquiring an additional 2,148,751 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Yum! Brands by 208.6% in the first quarter. Renaissance Technologies LLC now owns 2,625,400 shares of the restaurant operator’s stock worth $167,763,000 after acquiring an additional 1,774,600 shares in the last quarter. Pioneer Investment Management Inc. acquired a new stake in Yum! Brands in the second quarter worth about $104,149,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Yum! Brands in the second quarter worth about $102,713,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.
In other news, CFO David W. Gibbs sold 8,336 shares of Yum! Brands stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $74.00, for a total value of $616,864.00. Following the completion of the sale, the chief financial officer now owns 39,664 shares of the company’s stock, valued at $2,935,136. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.65% of the stock is owned by insiders.
YUM has been the subject of several recent analyst reports. Deutsche Bank AG reissued a “hold” rating and issued a $75.00 price target (up previously from $71.00) on shares of Yum! Brands in a report on Monday, July 10th. Zacks Investment Research raised Yum! Brands from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Thursday, July 20th. Sanford C. Bernstein reissued an “outperform” rating and issued a $80.00 price target on shares of Yum! Brands in a report on Tuesday, July 25th. BidaskClub raised Yum! Brands from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Finally, BMO Capital Markets raised their price target on Yum! Brands from $66.00 to $77.00 and gave the stock a “market perform” rating in a report on Thursday, August 3rd. Eleven analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $79.34.
Yum! Brands, Inc. (NYSE:YUM) traded up 0.50% during trading on Wednesday, reaching $74.82. The company’s stock had a trading volume of 682,415 shares. Yum! Brands, Inc. has a 52 week low of $59.43 and a 52 week high of $78.14. The company has a 50 day moving average price of $75.41 and a 200-day moving average price of $73.44. The company has a market capitalization of $25.80 billion, a PE ratio of 19.86 and a beta of 0.81.
Yum! Brands (NYSE:YUM) last released its quarterly earnings results on Thursday, August 3rd. The restaurant operator reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.42 billion. Yum! Brands had a negative return on equity of 24.95% and a net margin of 16.76%. Yum! Brands’s revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. Equities research analysts anticipate that Yum! Brands, Inc. will post $2.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Tuesday, November 14th. Yum! Brands’s dividend payout ratio is currently 33.15%.
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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