NuWave Investment Management LLC Invests $635,000 in Yum! Brands, Inc. (YUM)
NuWave Investment Management LLC acquired a new stake in Yum! Brands, Inc. (NYSE:YUM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,780 shares of the restaurant operator’s stock, valued at approximately $635,000.
Several other institutional investors and hedge funds also recently made changes to their positions in YUM. Bank of New York Mellon Corp boosted its stake in shares of Yum! Brands by 18.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,910,196 shares of the restaurant operator’s stock valued at $582,270,000 after buying an additional 1,220,537 shares during the period. Alkeon Capital Management LLC purchased a new position in shares of Yum! Brands in the 3rd quarter valued at about $45,086,000. Davidson Kempner Capital Management LP boosted its stake in shares of Yum! Brands by 440.0% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 675,000 shares of the restaurant operator’s stock valued at $49,788,000 after buying an additional 550,000 shares during the period. Koch Industries Inc. purchased a new position in shares of Yum! Brands in the 2nd quarter valued at about $509,000. Finally, American Century Companies Inc. purchased a new position in shares of Yum! Brands in the 4th quarter valued at about $33,729,000. Institutional investors and hedge funds own 73.23% of the company’s stock.
Several equities research analysts recently weighed in on the company. Wells Fargo & Co decreased their target price on Yum! Brands from $85.00 to $82.00 and set a “market perform” rating for the company in a research note on Friday. Instinet cut Yum! Brands from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 30th. Nomura cut Yum! Brands from a “buy” rating to a “neutral” rating and set a $89.00 target price for the company. in a research note on Tuesday, January 30th. Cowen restated a “buy” rating and set a $91.00 target price on shares of Yum! Brands in a research note on Friday, November 3rd. Finally, BMO Capital Markets boosted their target price on Yum! Brands from $77.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, November 3rd. Fourteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $81.96.
Yum! Brands (NYSE:YUM) last issued its quarterly earnings data on Thursday, February 8th. The restaurant operator reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.16. Yum! Brands had a negative return on equity of 17.27% and a net margin of 22.80%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. equities research analysts expect that Yum! Brands, Inc. will post 3.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 14th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.82%. This is a boost from Yum! Brands’s previous quarterly dividend of $0.30. Yum! Brands’s payout ratio is currently 31.66%.
Yum! Brands announced that its Board of Directors has authorized a share buyback plan on Friday, November 17th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the restaurant operator to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other Yum! Brands news, CEO Brian R. Niccol sold 2,294 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $84.90, for a total value of $194,760.60. Following the completion of the sale, the chief executive officer now owns 10,160 shares in the company, valued at $862,584. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brian R. Niccol sold 927 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $83.46, for a total value of $77,367.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,325 shares of company stock valued at $363,065. 0.65% of the stock is owned by company insiders.
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Yum! Brands 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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