Magellan Asset Management Ltd Purchases 338,339 Shares of Yum! Brands, Inc. (NYSE:YUM)
Magellan Asset Management Ltd raised its position in shares of Yum! Brands, Inc. (NYSE:YUM) by 2.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 15,768,541 shares of the restaurant operator’s stock after acquiring an additional 338,339 shares during the quarter. Yum! Brands comprises 5.0% of Magellan Asset Management Ltd’s holdings, making the stock its 10th biggest holding. Magellan Asset Management Ltd owned approximately 0.05% of Yum! Brands worth $1,573,858,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Yum! Brands by 2.7% in the first quarter. BlackRock Inc. now owns 22,186,539 shares of the restaurant operator’s stock worth $2,214,439,000 after acquiring an additional 591,322 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Yum! Brands by 6,899.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,916,798 shares of the restaurant operator’s stock worth $64,000 after acquiring an additional 5,832,264 shares during the period. Sustainable Growth Advisers LP boosted its holdings in shares of Yum! Brands by 0.4% in the first quarter. Sustainable Growth Advisers LP now owns 4,507,107 shares of the restaurant operator’s stock worth $449,854,000 after acquiring an additional 19,362 shares during the period. Northern Trust Corp boosted its holdings in shares of Yum! Brands by 2.0% in the fourth quarter. Northern Trust Corp now owns 3,931,459 shares of the restaurant operator’s stock worth $361,380,000 after acquiring an additional 78,678 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Yum! Brands by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,883,831 shares of the restaurant operator’s stock worth $356,348,000 after acquiring an additional 260,681 shares during the period. 74.91% of the stock is owned by institutional investors and hedge funds.
In other Yum! Brands news, VP David Eric Russell sold 5,872 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $100.00, for a total transaction of $587,200.00. Following the sale, the vice president now owns 23,653 shares in the company, valued at $2,365,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Greg Creed sold 44,949 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $105.82, for a total value of $4,756,503.18. Following the sale, the chief executive officer now owns 158,745 shares in the company, valued at approximately $16,798,395.90. The disclosure for this sale can be found here. Insiders have sold 58,200 shares of company stock valued at $6,085,268 in the last three months. 0.67% of the stock is owned by corporate insiders.
Yum! Brands (NYSE:YUM) last posted its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. Yum! Brands had a negative return on equity of 13.06% and a net margin of 24.61%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. On average, equities analysts predict that Yum! Brands, Inc. will post 3.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Thursday, May 16th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Wednesday, May 15th. Yum! Brands’s dividend payout ratio is 53.00%.
A number of equities analysts have recently commented on YUM shares. Citigroup cut their price target on Yum! Brands from $104.00 to $103.00 and set a “neutral” rating for the company in a report on Thursday, April 4th. Zacks Investment Research lowered Yum! Brands from a “buy” rating to a “hold” rating in a report on Saturday, February 16th. Evercore ISI started coverage on Yum! Brands in a report on Tuesday. They issued an “outperform” rating and a $120.00 price target for the company. JPMorgan Chase & Co. lowered Yum! Brands from an “overweight” rating to a “neutral” rating and set a $94.00 price target for the company. in a report on Tuesday, March 19th. Finally, Mizuho lowered Yum! Brands from a “buy” rating to a “neutral” rating and set a $84.00 price target for the company. in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $101.00.
Yum! Brands 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.
Recommended Story: Trade War
Want to see what other hedge funds are holding YUM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Yum! Brands, Inc. (NYSE:YUM).
Receive News & Ratings for Yum! Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yum! Brands and related companies with MarketBeat.com's FREE daily email newsletter.