Corebridge Financial Inc. Lowers Stock Position in Yum! Brands, Inc. $YUM

Key Points

• Corebridge Financial Inc. has reduced its stake in Yum! Brands by 3.6%, now holding 71,972 shares worth approximately $11.3 million.
• Analysts have varied expectations for Yum! Brands, with target prices ranging from $151.00 to $200.00, and a consensus rating of "Hold".
• The company recently reported earnings per share of $1.44, missing estimates by $0.02, with revenues of $1.93 billion for the quarter.

Corebridge Financial Inc. decreased its position in Yum! Brands, Inc. (NYSE:YUM - Free Report) by 3.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,972 shares of the restaurant operator's stock after selling 2,691 shares during the period. Corebridge Financial Inc.'s holdings in Yum! Brands were worth $11,326,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Greykasell Wealth Strategies Inc. acquired a new position in Yum! Brands in the 1st quarter worth about $25,000. Manchester Capital Management LLC increased its position 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 valued at $25,000 after buying an additional 71 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Yum! Brands during the 1st quarter worth approximately $32,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Yum! Brands during the 1st quarter valued at approximately $38,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in Yum! Brands in the 1st quarter valued at $41,000. 82.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on YUM. Morgan Stanley dropped their target price on shares of Yum! Brands from $153.00 to $151.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Melius began coverage on shares of Yum! Brands in a research note on Monday, July 14th. They set a "buy" rating and a $200.00 price objective for the company. TD Cowen decreased their target price on shares of Yum! Brands from $158.00 to $156.00 and set a "hold" rating on the stock in a research note on Tuesday, August 5th. Sanford C. Bernstein set a $164.00 price target on Yum! Brands in a research report on Tuesday, August 5th. Finally, TD Securities reaffirmed a "hold" rating and issued a $158.00 price target on shares of Yum! Brands in a report on Wednesday, April 30th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $161.23.

Insider Activity at Yum! Brands

In other news, CEO Scott Mezvinsky sold 263 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $139.92, for a total transaction of $36,798.96. Following the completion of the sale, the chief executive officer owned 1,755 shares in the company, valued at approximately $245,559.60. The trade was a 13.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Tracy L. Skeans sold 12,220 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $148.24, for a total transaction of $1,811,492.80. 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 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Yum! Brands Price Performance

Shares of YUM opened at $147.22 on Wednesday. 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 simple moving average of $146.37 and a two-hundred day simple moving average of $148.21. The stock has a market cap of $40.86 billion, a PE ratio of 29.04, a P/E/G ratio of 2.29 and a beta of 0.73.

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

Yum! Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 1.9%. Yum! Brands's dividend payout ratio (DPR) is presently 56.02%.

Yum! Brands 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.

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