Canada Pension Plan Investment Board lowered its stake in Yum! Brands, Inc. (NYSE:YUM) by 16.3% during the second quarter, Holdings Channel reports. The institutional investor owned 398,364 shares of the restaurant operator’s stock after selling 77,658 shares during the period. Canada Pension Plan Investment Board’s holdings in Yum! Brands were worth $29,383,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of YUM. Howland Capital Management LLC increased its stake in shares of Yum! Brands by 11.7% in the first quarter. Howland Capital Management LLC now owns 157,474 shares of the restaurant operator’s stock valued at $10,063,000 after buying an additional 16,432 shares in the last quarter. South State Corp increased its stake in shares of Yum! Brands by 13.9% in the first quarter. South State Corp now owns 56,768 shares of the restaurant operator’s stock valued at $3,627,000 after buying an additional 6,931 shares in the last quarter. Windsor Capital Management LLC increased its stake in shares of Yum! Brands by 7.6% in the first quarter. Windsor Capital Management LLC now owns 9,855 shares of the restaurant operator’s stock valued at $629,000 after buying an additional 693 shares in the last quarter. Parametrica Management Ltd bought a new stake in shares of Yum! Brands during the first quarter valued at $311,000. Finally, Morgan Stanley increased its stake 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 in the last quarter. 73.75% of the stock is owned by hedge funds and other institutional investors.

Shares of Yum! Brands, Inc. (NYSE YUM) opened at 75.56 on Friday. The firm has a 50-day moving average price of $74.41 and a 200 day moving average price of $69.15. The stock has a market cap of $26.05 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 issued its 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. Yum! Brands had a negative return on equity of 24.95% and a net margin of 16.76%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm posted $0.75 EPS. The business’s revenue was down 4.0% compared to the same quarter last year. Equities research analysts predict that Yum! Brands, Inc. will post $2.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 4th. Shareholders of record on Friday, July 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Wednesday, July 12th. Yum! Brands’s payout ratio is currently 33.15%.

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YUM has been the subject of a number of recent analyst reports. Zacks Investment Research raised Yum! Brands from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, August 1st. BidaskClub raised Yum! Brands from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Cowen and Company raised their target price on Yum! Brands from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $78.00 target price (up previously from $75.00) on shares of Yum! Brands in a report on Tuesday, May 30th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $75.00 target price (up previously from $71.00) on shares of Yum! Brands in a report on Monday, July 10th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $78.64.

In other Yum! Brands news, CEO Brian R. Niccol sold 1,487 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $73.82, for a total value of $109,770.34. Following the transaction, the chief executive officer now directly owns 6,719 shares of the company’s stock, valued at approximately $495,996.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brian R. Niccol sold 1,471 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $72.64, for a total value of $106,853.44. Following the completion of the transaction, the chief executive officer now directly owns 6,712 shares in the company, valued at $487,559.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,294 shares of company stock worth $833,488. Insiders own 7.38% of the company’s stock.

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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