Alliancebernstein L.P. boosted its holdings in Yum! Brands, Inc. (NYSE:YUM) by 5.5% in the fourth quarter, HoldingsChannel reports. The firm owned 639,758 shares of the restaurant operator’s stock after purchasing an additional 33,603 shares during the quarter. Alliancebernstein L.P.’s holdings in Yum! Brands were worth $52,211,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in YUM. Bank of New York Mellon Corp grew its position in shares of Yum! Brands by 18.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,910,196 shares of the restaurant operator’s stock valued at $582,270,000 after acquiring an additional 1,220,537 shares during the period. Alkeon Capital Management LLC bought a new position in shares of Yum! Brands in the 3rd quarter valued at about $45,086,000. American Century Companies Inc. bought a new position in shares of Yum! Brands in the 4th quarter valued at about $33,729,000. Amundi Pioneer Asset Management Inc. grew its position in shares of Yum! Brands by 26.0% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,778,900 shares of the restaurant operator’s stock valued at $130,945,000 after acquiring an additional 366,900 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Yum! Brands by 28.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,236,678 shares of the restaurant operator’s stock valued at $100,925,000 after acquiring an additional 271,210 shares during the period. 75.60% of the stock is owned by institutional investors and hedge funds.
In other Yum! Brands news, CEO Brian R. Niccol sold 2,294 shares of Yum! Brands stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $84.90, for a total value of $194,760.60. Following the completion of the sale, the chief executive officer now owns 10,160 shares in the company, valued at approximately $862,584. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian R. Niccol sold 945 shares of Yum! Brands stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $79.90, for a total transaction of $75,505.50. Following the completion of the sale, the chief executive officer now owns 10,785 shares of the company’s stock, valued at approximately $861,721.50. The disclosure for this sale can be found here. Insiders sold a total of 4,343 shares of company stock valued at $361,203 in the last quarter. Corporate insiders own 0.65% of the company’s stock.
Yum! Brands (NYSE:YUM) last issued its quarterly earnings data on Thursday, February 8th. The restaurant operator reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.16. Yum! Brands had a net margin of 22.80% and a negative return on equity of 17.27%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company earned $0.79 EPS. The business’s revenue was down 16.4% on a year-over-year basis. equities analysts expect that Yum! Brands, Inc. will post 3.28 earnings per share for the current fiscal year.
Yum! Brands announced that its Board of Directors has authorized a stock repurchase program on Friday, November 17th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the restaurant operator to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Wednesday, February 14th were paid a $0.36 dividend. This is a boost from Yum! Brands’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.44 annualized dividend and a yield of 1.75%. Yum! Brands’s payout ratio is 28.57%.
A number of research analysts have recently commented on YUM shares. Zacks Investment Research raised shares of Yum! Brands from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Sunday, January 21st. Barclays reissued an “equal weight” rating and issued a $84.00 price objective (up previously from $79.00) on shares of Yum! Brands in a research report on Tuesday, January 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $89.00 price objective (down previously from $92.00) on shares of Yum! Brands in a research report on Friday, February 2nd. Wells Fargo & Co decreased their price objective on shares of Yum! Brands from $85.00 to $82.00 and set a “market perform” rating for the company in a research report on Friday, February 9th. Finally, Edward Jones raised shares of Yum! Brands from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Fourteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $82.26.
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About Yum! Brands
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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