Allspring Global Investments Holdings LLC Sells 26,516 Shares of Yum! Brands, Inc. (NYSE:YUM)

Allspring Global Investments Holdings LLC cut its position in shares of Yum! Brands, Inc. (NYSE:YUM - Free Report) by 25.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,489 shares of the restaurant operator's stock after selling 26,516 shares during the period. Allspring Global Investments Holdings LLC's holdings in Yum! Brands were worth $12,632,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in YUM. Centerline Wealth Advisors LLC bought a new position in shares of Yum! Brands during the 1st quarter worth approximately $258,000. Illinois Municipal Retirement Fund boosted its holdings in Yum! Brands by 55.3% during the first quarter. Illinois Municipal Retirement Fund now owns 98,157 shares of the restaurant operator's stock worth $15,446,000 after buying an additional 34,932 shares in the last quarter. PDS Planning Inc boosted its holdings in Yum! Brands by 20.0% during the first quarter. PDS Planning Inc now owns 1,918 shares of the restaurant operator's stock worth $302,000 after buying an additional 320 shares in the last quarter. Cottonwood Capital Advisors LLC purchased a new stake in Yum! Brands during the first quarter worth $203,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Yum! Brands by 5.1% during the first quarter. Robeco Institutional Asset Management B.V. now owns 26,105 shares of the restaurant operator's stock valued at $4,108,000 after purchasing an additional 1,266 shares in the last quarter. 82.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Yum! Brands from $148.00 to $151.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. The Goldman Sachs Group upgraded shares of Yum! Brands from a "neutral" rating to a "buy" rating and set a $167.00 price target for the company in a research note on Wednesday, June 4th. Piper Sandler boosted their price objective on shares of Yum! Brands from $150.00 to $155.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Morgan Stanley boosted their price objective on shares of Yum! Brands from $147.00 to $151.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Finally, Oppenheimer reiterated an "outperform" rating and issued a $185.00 price objective on shares of Yum! Brands in a research note on Monday, April 28th. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Yum! Brands has a consensus rating of "Hold" and an average price target of $157.86.

Yum! Brands Stock Performance

Shares of NYSE YUM traded up $0.22 during midday trading on Monday, hitting $150.22. 1,748,486 shares of the stock traded hands, compared to its average volume of 2,003,790. The company has a market cap of $41.76 billion, a PE ratio of 29.92, a P/E/G ratio of 2.25 and a beta of 0.74. Yum! Brands, Inc. has a one year low of $122.13 and a one year high of $163.30. The business has a 50 day moving average price of $145.68 and a two-hundred day moving average price of $144.20.

Yum! Brands (NYSE:YUM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.01. Yum! Brands had a negative return on equity of 20.80% and a net margin of 18.42%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The business's revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities research analysts forecast that Yum! Brands, Inc. will post 5.94 EPS for the current fiscal year.

Yum! Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $2.84 annualized dividend and a dividend yield of 1.89%. Yum! Brands's dividend payout ratio (DPR) is presently 56.57%.

Insider Activity

In related news, CEO David W. Gibbs sold 7,063 shares of Yum! Brands stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $145.57, for a total transaction of $1,028,160.91. Following the sale, the chief executive officer directly owned 157,893 shares in the company, valued at $22,984,484.01. The trade was a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott Mezvinsky sold 272 shares of Yum! Brands stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $148.28, for a total value of $40,332.16. Following the sale, the chief executive officer owned 1,755 shares in the company, valued at $260,231.40. This represents a 13.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,742 shares of company stock worth $1,861,504 over the last quarter. Corporate insiders own 0.33% of the company's stock.

Yum! Brands Company Profile

Yum! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. The company operates through the KFC Division, the Taco Bell Division, the Pizza Hut Division, and the Habit Burger Grill Division segments. It also operates restaurants under the KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill brands, which specialize in chicken, pizza, made-to-order chargrilled burgers, sandwiches, Mexican-style food categories, and other food products.