Allstate Corp Buys 3,470 Shares of Yum! Brands, Inc. $YUM

Key Points

• Allstate Corp increased its stake in Yum! Brands, Inc. (NYSE:YUM) by 41.1% during the first quarter, owning a total of 11,911 shares valued at approximately $1,874,000.
• Yum! Brands declared a quarterly dividend of $0.71 per share, resulting in an annualized yield of 1.9%, with the payment date set for September 12.
• Despite reporting a miss on earnings per share for the last quarter, Yum! Brands had a revenue increase of 9.6% year-over-year, with current analyst consensus rating at "Hold" and an average target price of $161.23.

Allstate Corp lifted its stake in Yum! Brands, Inc. (NYSE:YUM - Free Report) by 41.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,911 shares of the restaurant operator's stock after buying an additional 3,470 shares during the period. Allstate Corp's holdings in Yum! Brands were worth $1,874,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Yum! Brands during the first quarter valued at approximately $25,000. Manchester Capital Management LLC increased its stake in shares of Yum! Brands by 78.0% in the first quarter. Manchester Capital Management LLC now owns 162 shares of the restaurant operator's stock worth $25,000 after buying an additional 71 shares during the period. Wayfinding Financial LLC bought a new stake in Yum! Brands during the 1st quarter valued at $32,000. Financial Gravity Asset Management Inc. purchased a new stake in Yum! Brands during the 1st quarter valued at $38,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in Yum! Brands during the 1st quarter valued at $41,000. 82.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on YUM shares. Sanford C. Bernstein set a $164.00 price objective on shares of Yum! Brands in a research note on Tuesday, August 5th. JPMorgan Chase & Co. cut their target price on Yum! Brands from $162.00 to $160.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. TD Securities reaffirmed a "hold" rating and set a $158.00 price target on shares of Yum! Brands in a research report on Wednesday, April 30th. Piper Sandler increased their price objective on Yum! Brands from $150.00 to $155.00 and gave the stock a "neutral" rating in a report 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 report on Monday, April 28th. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $161.23.

Yum! Brands Price Performance

YUM stock opened at $147.7230 on Friday. Yum! Brands, Inc. has a 1 year low of $122.13 and a 1 year high of $163.30. The firm has a 50-day moving average of $146.12 and a 200 day moving average of $148.05. The company has a market cap of $41.00 billion, a P/E ratio of 29.14, a PEG ratio of 2.31 and a beta of 0.73.

Yum! Brands (NYSE:YUM - Get Free Report) last posted its earnings results on Tuesday, August 5th. The restaurant operator reported $1.44 earnings per share for the quarter, missing analysts' consensus estimates of $1.46 by ($0.02). Yum! Brands had a negative return on equity of 21.01% and a net margin of 18.11%.The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the company posted $1.35 EPS. The firm's revenue was up 9.6% on a year-over-year basis. On average, equities research analysts expect that Yum! Brands, Inc. will post 5.94 earnings per share for the current fiscal year.

Yum! Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Yum! Brands's dividend payout ratio is presently 56.02%.

Insider Transactions at Yum! Brands

In other news, Director Weir Mirian M. Graddick sold 2,038 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $145.30, for a total value of $296,121.40. Following the sale, the director directly owned 1,233 shares of the company's stock, valued at $179,154.90. This represents a 62.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Mezvinsky sold 272 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $148.28, for a total transaction of $40,332.16. Following the completion of the transaction, the chief executive officer owned 1,755 shares of the company's stock, valued at approximately $260,231.40. The trade was 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 29,284 shares of company stock worth $4,310,663 in the last ninety days. 0.33% of the stock is owned by company insiders.

About Yum! Brands

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.

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