Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Yum! Brands, Inc. (NYSE:YUM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 166,001 shares of the restaurant operator's stock, valued at approximately $26,537,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Yum! Brands as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Yum! Brands during the 2nd quarter valued at about $4,186,811,000. Capital International Investors increased its holdings in shares of Yum! Brands by 20.0% in the fourth quarter. Capital International Investors now owns 19,419,826 shares of the restaurant operator's stock worth $2,938,139,000 after purchasing an additional 3,240,190 shares during the last quarter. State Street Corp lifted its position in shares of Yum! Brands by 1.0% in the fourth quarter. State Street Corp now owns 13,164,814 shares of the restaurant operator's stock worth $1,991,573,000 after buying an additional 124,720 shares in the last quarter. Geode Capital Management LLC boosted its stake in Yum! Brands by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 8,800,382 shares of the restaurant operator's stock valued at $1,334,427,000 after buying an additional 121,304 shares during the last quarter. Finally, Norges Bank purchased a new position in Yum! Brands during the 4th quarter valued at approximately $706,799,000. Hedge funds and other institutional investors own 82.37% of the company's stock.
Yum! Brands Price Performance
Shares of NYSE YUM opened at $157.42 on Tuesday. Yum! Brands, Inc. has a 1-year low of $137.33 and a 1-year high of $170.14. The business's 50 day moving average is $153.48 and its two-hundred day moving average is $155.97. The stock has a market capitalization of $42.96 billion, a P/E ratio of 19.80, a PEG ratio of 2.48 and a beta of 0.55.
Yum! Brands (NYSE:YUM - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The restaurant operator reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.04. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.18 billion. Yum! Brands had a negative return on equity of 24.57% and a net margin of 25.42%.The company's revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the company earned $1.44 EPS. As a group, equities research analysts anticipate that Yum! Brands, Inc. will post 6.42 earnings per share for the current fiscal year.
Yum! Brands announced that its board has authorized a share buyback program on Tuesday, June 16th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the restaurant operator to purchase up to 9.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. TD Cowen reaffirmed a "buy" rating and issued a $180.00 price objective on shares of Yum! Brands in a research note on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $174.00 target price on shares of Yum! Brands in a research report on Friday, July 31st. JPMorgan Chase & Co. reduced their price target on shares of Yum! Brands from $170.00 to $160.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 4th. Evercore reaffirmed an "outperform" rating on shares of Yum! Brands in a research note on Tuesday, June 16th. Finally, Citigroup increased their price objective on shares of Yum! Brands from $175.00 to $178.00 and gave the company a "neutral" rating in a research report on Sunday, July 12th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Yum! Brands has a consensus rating of "Moderate Buy" and an average price target of $174.65.
View Our Latest Analysis on Yum! Brands
Insider Activity at Yum! Brands
In other Yum! Brands news, CEO Aaron Powell sold 6,001 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $160.42, for a total transaction of $962,680.42. Following the transaction, the chief executive officer owned 12,003 shares in the company, valued at $1,925,521.26. The trade was a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Lee Turner sold 261 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $153.15, for a total transaction of $39,972.15. Following the completion of the sale, the chief executive officer directly owned 63,771 shares in the company, valued at approximately $9,766,528.65. This represents a 0.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 19,043 shares of company stock worth $2,978,180 in the last ninety days. Corporate insiders own 0.14% of the company's stock.
Yum! Brands Profile
(
Free Report)
Yum! Brands, Inc NYSE: YUM is a global quick-service restaurant company that develops, operates and franchises a portfolio of well-known restaurant brands. The company's principal brands are KFC, Pizza Hut and Taco Bell, each focused on distinct product categories—KFC on fried chicken and related menu items, Pizza Hut on pizza and complementary offerings, and Taco Bell on Mexican-inspired quick-service food. Yum! is headquartered in Louisville, Kentucky and was formed as Tricon Global Restaurants in 1997 when PepsiCo spun off its restaurant businesses, later adopting the Yum! Brands name.
The company's operating model centers on brand development, system growth and franchising; a large portion of its restaurants are operated by independent franchisees, and Yum! generates revenue through franchise royalties and fees in addition to sales from company-operated locations.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Yum! Brands, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Yum! Brands wasn't on the list.
While Yum! Brands currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
