CIBC Asset Management Inc grew its holdings in shares of Yum! Brands, Inc. (NYSE:YUM) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,293 shares of the restaurant operator’s stock after buying an additional 963 shares during the period. CIBC Asset Management Inc’s holdings in Yum! Brands were worth $3,338,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Nvwm LLC bought a new stake in shares of Yum! Brands during the 3rd quarter valued at $29,000. Capital Directions Investment Advisors LLC bought a new stake in shares of Yum! Brands during the 2nd quarter valued at $29,000. Ellevest Inc. boosted its holdings in shares of Yum! Brands by 129.8% during the 3rd quarter. Ellevest Inc. now owns 278 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 157 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new stake in shares of Yum! Brands during the 3rd quarter valued at $37,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Yum! Brands by 47.2% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 312 shares of the restaurant operator’s stock valued at $38,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 78.59% of the company’s stock.
In related news, CEO David W. Gibbs sold 1,452 shares of the stock in a transaction that occurred on Wednesday, December 15th. The shares were sold at an average price of $132.01, for a total value of $191,678.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony Lowings sold 6,662 shares of the stock in a transaction that occurred on Tuesday, November 9th. The stock was sold at an average price of $126.54, for a total transaction of $843,009.48. The disclosure for this sale can be found here. Insiders sold a total of 9,525 shares of company stock valued at $1,212,333 over the last three months. 0.37% of the stock is currently owned by insiders.
Yum! Brands (NYSE:YUM) last released its earnings results on Wednesday, October 27th. The restaurant operator reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.14. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.59 billion. Yum! Brands had a net margin of 24.50% and a negative return on equity of 17.76%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. As a group, analysts forecast that Yum! Brands, Inc. will post 4.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 10th. Investors of record on Friday, November 26th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.57%. The ex-dividend date was Wednesday, November 24th. Yum! Brands’s dividend payout ratio is 38.54%.
A number of equities analysts recently issued reports on YUM shares. Zacks Investment Research cut shares of Yum! Brands from a “buy” rating to a “hold” rating and set a $132.00 price target on the stock. in a research note on Tuesday, September 28th. MKM Partners upgraded shares of Yum! Brands from a “neutral” rating to a “buy” rating and upped their price target for the stock from $142.00 to $145.00 in a research note on Thursday, October 28th. Wells Fargo & Company dropped their price target on shares of Yum! Brands from $147.00 to $144.00 and set an “overweight” rating on the stock in a research note on Monday, October 18th. Bank of America started coverage on shares of Yum! Brands in a research note on Tuesday. They issued a “neutral” rating on the stock. Finally, Loop Capital initiated coverage on shares of Yum! Brands in a research note on Tuesday, October 5th. They issued a “hold” rating and a $120.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $133.42.
About Yum! Brands
Yum! Brands, Inc operates as a service restaurant company. The firm engages in the development, operation, franchise, and licenses a system of restaurants. It operates through the following segments: KFC Division, Pizza Hut Division, Taco Bell Division, and Habit Burger Grill Division. The KFC Division segment comprises of all operations of the KFC concept.
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