Bank of Montreal Can Acquires 60,039 Shares of Yum! Brands, Inc. (YUM)
Bank of Montreal Can raised its holdings in shares of Yum! Brands, Inc. (NYSE:YUM) by 19.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 373,903 shares of the restaurant operator’s stock after acquiring an additional 60,039 shares during the period. Bank of Montreal Can’s holdings in Yum! Brands were worth $33,992,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Douglass Winthrop Advisors LLC bought a new position in Yum! Brands during the third quarter valued at approximately $201,000. Indiana Trust & Investment Management CO bought a new position in Yum! Brands during the third quarter valued at approximately $254,000. LFA Lugano Financial Advisors SA bought a new position in Yum! Brands during the third quarter valued at approximately $221,000. Biltmore Wealth Management LLC bought a new position in Yum! Brands during the third quarter valued at approximately $760,000. Finally, DNB Asset Management AS grew its position in Yum! Brands by 2.3% during the third quarter. DNB Asset Management AS now owns 42,026 shares of the restaurant operator’s stock valued at $3,821,000 after acquiring an additional 949 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.
YUM has been the topic of a number of recent research reports. UBS Group set a $99.00 price target on shares of Yum! Brands and gave the company a “buy” rating in a research report on Monday, September 10th. BTIG Research upgraded shares of Yum! Brands from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 27th. They noted that the move was a valuation call. BMO Capital Markets restated a “hold” rating and issued a $88.00 target price on shares of Yum! Brands in a report on Friday, August 3rd. Zacks Investment Research cut shares of Yum! Brands from a “buy” rating to a “hold” rating in a report on Thursday. Finally, KeyCorp initiated coverage on shares of Yum! Brands in a report on Wednesday, October 3rd. They issued a “sector weight” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $88.56.
Shares of Yum! Brands stock opened at $89.40 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of -1.33. Yum! Brands, Inc. has a 52-week low of $74.18 and a 52-week high of $92.21. The company has a market capitalization of $28.99 billion, a PE ratio of 30.20, a PEG ratio of 2.04 and a beta of 0.86.
Yum! Brands (NYSE:YUM) last issued its earnings results on Thursday, August 2nd. The restaurant operator reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. Yum! Brands had a net margin of 27.95% and a negative return on equity of 17.36%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the business earned $0.68 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. As a group, analysts predict that Yum! Brands, Inc. will post 3.5 EPS for the current year.
Yum! Brands announced that its board has authorized a stock repurchase plan on Friday, August 10th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the restaurant operator to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Yum! Brands Company 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.
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