Sequoia Financial Advisors LLC acquired a new position in shares of Yum Brands Inc. (NYSE:YUM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 77,030 shares of the restaurant operator’s stock, valued at approximately $6,387,000. Yum Brands comprises approximately 1.8% of Sequoia Financial Advisors LLC’s holdings, making the stock its 14th largest position.
Several other institutional investors have also added to or reduced their stakes in the stock. Panagora Asset Management Inc. increased its position in Yum Brands by 1,512.2% in the first quarter. Panagora Asset Management Inc. now owns 425,308 shares of the restaurant operator’s stock worth $34,811,000 after buying an additional 398,927 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Yum Brands during the first quarter valued at $41,760,000. Smith Asset Management Group LP purchased a new stake in shares of Yum Brands during the second quarter valued at $16,815,000. CWM LLC increased its stake in shares of Yum Brands by 25.1% in the second quarter. CWM LLC now owns 217,409 shares of the restaurant operator’s stock valued at $18,028,000 after buying an additional 43,650 shares during the period. Finally, Peconic Partners LLC purchased a new stake in shares of Yum Brands during the first quarter valued at $6,548,000. Hedge funds and other institutional investors own 76.09% of the company’s stock.
Yum Brands Inc. (NYSE:YUM) traded down 0.66% during midday trading on Tuesday, hitting $86.16. 3,137,573 shares of the stock were exchanged. Yum Brands Inc. has a 12-month low of $64.58 and a 12-month high of $91.99. The firm has a 50 day moving average of $89.23 and a 200-day moving average of $85.64. The stock has a market cap of $32.40 billion, a price-to-earnings ratio of 25.97 and a beta of 0.76.
Yum Brands (NYSE:YUM) last posted its earnings results on Wednesday, October 5th. The restaurant operator reported $1.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by $0.01. Yum Brands had a net margin of 12.62% and a negative return on equity of 589.18%. The business had revenue of $3.32 billion for the quarter. During the same period in the prior year, the business earned $1.00 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities analysts expect that Yum Brands Inc. will post $3.70 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 4th. Shareholders of record on Wednesday, October 19th will be issued a dividend of $0.51 per share. This is an increase from Yum Brands’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 2.37%. The ex-dividend date is Monday, October 17th. Yum Brands’s dividend payout ratio (DPR) is 46.82%.
Several equities research analysts have weighed in on YUM shares. Citigroup Inc. raised their target price on shares of Yum Brands from $88.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, September 9th. Jefferies Group restated a “hold” rating and issued a $85.00 target price on shares of Yum Brands in a research note on Friday, October 7th. Zacks Investment Research downgraded shares of Yum Brands from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. Morgan Stanley raised their target price on shares of Yum Brands from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 28th. Finally, Nomura restated a “buy” rating and issued a $95.00 target price (up from $92.00) on shares of Yum Brands in a research note on Wednesday, June 22nd. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $92.46.
In other Yum Brands news, CEO Roger G. Eaton sold 53,518 shares of the firm’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $91.72, for a total transaction of $4,908,670.96. Following the completion of the transaction, the chief executive officer now directly owns 245,736 shares in the company, valued at approximately $22,538,905.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Muktesh Pant sold 91,228 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $89.94, for a total transaction of $8,205,046.32. Following the transaction, the chief executive officer now owns 62,660 shares of the company’s stock, valued at $5,635,640.40. The disclosure for this sale can be found here. Company insiders own 7.38% of the company’s stock.
About Yum Brands
YUM! Brands, Inc (YUM) is engaged in restaurant business. The Company develops, operates, franchises and licenses an across the world system of restaurants, which prepare, package and sell a menu of food items, primarily through the three concepts of KFC, Pizza Hut and Taco Bell (the Concepts). YUM operates through four segments: YUM China (China Division), which includes all operations in mainland China; The KFC Division, which includes all operations of the KFC concept outside of China Division; The Pizza Hut Division, which includes all operations of the Pizza Hut concept outside of China Division, and the Taco Bell Division, which includes all operations of the Taco Bell concept.
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