Cresset Asset Management LLC Has $1.96 Million Holdings in Yum! Brands, Inc. $YUM

Key Points

• Cresset Asset Management LLC reduced its holdings in Yum! Brands by 18.7% during the first quarter, owning 12,452 shares valued at approximately $1.96 million after selling 2,856 shares.
• Several hedge funds made significant changes to their positions in Yum! Brands, with GAMMA Investing LLC boosting its holdings by 14,795.6% and Northern Trust Corp increasing by 20.4%.
• Yum! Brands reported a quarterly earnings miss with earnings per share of $1.44, falling short of analyst expectations of $1.46, despite a year-over-year revenue growth of 9.6%.

Cresset Asset Management LLC cut its position in shares of Yum! Brands, Inc. (NYSE:YUM - Free Report) by 18.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,452 shares of the restaurant operator's stock after selling 2,856 shares during the quarter. Cresset Asset Management LLC's holdings in Yum! Brands were worth $1,959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in YUM. Manchester Capital Management LLC boosted 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 worth $25,000 after buying an additional 71 shares during the period. Greykasell Wealth Strategies Inc. acquired a new stake in Yum! Brands in the 1st quarter valued at approximately $25,000. Wayfinding Financial LLC bought a new position in Yum! Brands during the 1st quarter valued at $32,000. Itau Unibanco Holding S.A. boosted its stake in Yum! Brands by 436.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 279 shares of the restaurant operator's stock valued at $37,000 after purchasing an additional 227 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Yum! Brands in the 1st quarter worth $38,000. 82.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

YUM has been the subject of several recent analyst reports. The Goldman Sachs Group raised Yum! Brands from a "neutral" rating to a "buy" rating and set a $167.00 target price for the company in a research report on Wednesday, June 4th. Redburn Atlantic upgraded Yum! Brands from a "neutral" rating to a "buy" rating and boosted their target price for the company from $145.00 to $177.00 in a research note on Tuesday, June 10th. Guggenheim restated a "buy" rating and issued a $167.00 target price (up previously from $165.00) on shares of Yum! Brands in a research note on Monday, August 4th. Barclays reaffirmed an "overweight" rating and issued a $164.00 price target (down previously from $167.00) on shares of Yum! Brands in a research report on Tuesday, August 5th. Finally, Piper Sandler boosted their price target on Yum! Brands from $150.00 to $155.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Ten research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Yum! Brands presently has an average rating of "Hold" and a consensus price target of $161.23.

Yum! Brands Trading Down 0.2%

YUM traded down $0.2870 on Friday, hitting $147.7230. 1,995,333 shares of the stock traded hands, compared to its average volume of 2,270,952. Yum! Brands, Inc. has a 52 week low of $122.13 and a 52 week high of $163.30. The firm has a market capitalization of $41.00 billion, a PE ratio of 29.14, a P/E/G ratio of 2.31 and a beta of 0.73. The business has a fifty day moving average price of $146.12 and a two-hundred day moving average price of $148.05.

Yum! Brands (NYSE:YUM - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm earned $1.35 earnings per share. The company's revenue was up 9.6% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, September 2nd. Yum! Brands's payout ratio is currently 56.02%.

Insider Transactions at Yum! Brands

In other Yum! Brands news, COO Tracy L. Skeans sold 12,220 shares of Yum! Brands stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $148.24, for a total transaction of $1,811,492.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Gibbs sold 7,117 shares of Yum! Brands stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $146.60, for a total value of $1,043,352.20. Following the sale, the chief executive officer directly owned 102,893 shares in the company, valued at $15,084,113.80. The trade was a 6.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,284 shares of company stock valued at $4,310,663. 0.33% of the stock is currently owned by insiders.

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.