Cigna Investments Inc. New reduced its stake in Yum! Brands, Inc. (NYSE:YUM) by 10.9% during the second quarter, Holdings Channel reports. The firm owned 12,694 shares of the restaurant operator’s stock after selling 1,553 shares during the period. Cigna Investments Inc. New’s holdings in Yum! Brands were worth $936,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Yum! Brands by 2,392.9% in the first quarter. BlackRock Inc. now owns 20,053,997 shares of the restaurant operator’s stock valued at $1,281,452,000 after buying an additional 19,249,564 shares during the period. Morgan Stanley raised its position in shares of Yum! Brands by 82.4% in the first quarter. Morgan Stanley now owns 4,757,237 shares of the restaurant operator’s stock valued at $303,987,000 after buying an additional 2,148,751 shares during the period. Renaissance Technologies LLC raised its position in shares of Yum! Brands by 208.6% in the first quarter. Renaissance Technologies LLC now owns 2,625,400 shares of the restaurant operator’s stock valued at $167,763,000 after buying an additional 1,774,600 shares during the period. Pioneer Investment Management Inc. bought a new position in shares of Yum! Brands during the second quarter valued at about $104,149,000. Finally, California Public Employees Retirement System raised its position in shares of Yum! Brands by 86.7% in the first quarter. California Public Employees Retirement System now owns 1,802,224 shares of the restaurant operator’s stock valued at $114,612,000 after buying an additional 836,962 shares during the period. Institutional investors own 73.75% of the company’s stock.

Shares of Yum! Brands, Inc. (NYSE YUM) opened at 75.56 on Friday. The stock’s 50 day moving average is $74.41 and its 200-day moving average is $69.15. The stock has a market cap of $26.07 billion, a PE ratio of 20.06 and a beta of 0.82. Yum! Brands, Inc. has a 12-month low of $59.57 and a 12-month high of $76.62.

Yum! Brands (NYSE:YUM) last posted its quarterly earnings data on Thursday, August 3rd. The restaurant operator reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.42 billion. Yum! Brands had a net margin of 16.76% and a negative return on equity of 24.95%. Yum! Brands’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. Equities analysts expect that Yum! Brands, Inc. will post $2.82 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 4th. Investors of record on Friday, July 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.20 annualized dividend and a dividend yield of 1.59%. Yum! Brands’s dividend payout ratio (DPR) is presently 33.15%.

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YUM has been the subject of several research reports. Deutsche Bank AG reiterated a “hold” rating and issued a $71.00 target price (up from $68.00) on shares of Yum! Brands in a research report on Tuesday, May 30th. Royal Bank Of Canada boosted their price target on shares of Yum! Brands from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, May 4th. Zacks Investment Research raised shares of Yum! Brands from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research note on Thursday, July 20th. CIBC boosted their price target on shares of Yum! Brands from $75.00 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 30th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Yum! Brands from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $57.00 to $65.00 in a research note on Thursday, May 11th. Fifteen analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $78.64.

In related news, CEO Brian R. Niccol sold 1,471 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $72.64, for a total transaction of $106,853.44. Following the completion of the transaction, the chief executive officer now owns 6,712 shares in the company, valued at approximately $487,559.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David W. Gibbs sold 8,336 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $74.00, for a total transaction of $616,864.00. Following the transaction, the chief financial officer now owns 39,664 shares of the company’s stock, valued at approximately $2,935,136. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,294 shares of company stock valued at $833,488. 7.38% of the stock is currently owned by company 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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Institutional Ownership by Quarter for Yum! Brands (NYSE:YUM)

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