Mirae Asset Global Investments Co. Ltd. Sells 5,780 Shares of Yum! Brands, Inc. $YUM

Key Points

• Mirae Asset Global Investments Co. Ltd. decreased its stake in Yum! Brands by 8.0%, selling 5,780 shares during the second quarter, leaving them with 66,666 shares valued at approximately $9.88 million.
• Yum! Brands reported a quarterly EPS of $1.44, which fell short of analysts' estimates by $0.02, and generated a revenue of $1.93 billion, slightly below expectations.
• The company declared a quarterly dividend of $0.71 per share, representing an annualized dividend of $2.84 and a dividend yield of 1.9%.

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of Yum! Brands, Inc. (NYSE:YUM - Free Report) by 8.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,666 shares of the restaurant operator's stock after selling 5,780 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Yum! Brands were worth $9,879,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC increased its position in shares of Yum! Brands by 5.6% in the second quarter. Fortitude Family Office LLC now owns 1,277 shares of the restaurant operator's stock worth $189,000 after purchasing an additional 68 shares during the period. Manchester Capital Management LLC grew its stake in Yum! Brands by 78.0% during 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 in the last quarter. Geneos Wealth Management Inc. increased its holdings in Yum! Brands by 7.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,048 shares of the restaurant operator's stock valued at $165,000 after buying an additional 71 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Yum! Brands by 0.8% in the 1st quarter. Valeo Financial Advisors LLC now owns 9,178 shares of the restaurant operator's stock valued at $1,444,000 after buying an additional 72 shares in the last quarter. Finally, PGIM Custom Harvest LLC lifted its holdings in shares of Yum! Brands by 4.3% during the 1st quarter. PGIM Custom Harvest LLC now owns 1,857 shares of the restaurant operator's stock worth $292,000 after acquiring an additional 76 shares during the period. 82.37% of the stock is owned by institutional investors and hedge funds.

Yum! Brands Stock Down 0.5%

Shares of YUM opened at $150.61 on Monday. The stock has a market cap of $41.80 billion, a PE ratio of 29.71, a PEG ratio of 2.35 and a beta of 0.72. Yum! Brands, Inc. has a 12-month low of $122.13 and a 12-month high of $163.30. The business has a 50-day simple moving average of $147.05 and a two-hundred day simple moving average of $147.13.

Yum! Brands (NYSE:YUM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The restaurant operator reported $1.44 EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $1.94 billion. During the same period in the previous year, the business posted $1.35 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts expect that Yum! Brands, Inc. will post 5.94 EPS for the current year.

Yum! Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.84 annualized dividend and a dividend yield of 1.9%. Yum! Brands's dividend payout ratio (DPR) is presently 56.02%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on YUM. Piper Sandler lifted their price objective on shares of Yum! Brands from $155.00 to $157.00 and gave the company a "neutral" rating in a research note on Thursday. Redburn Atlantic upgraded Yum! Brands from a "neutral" rating to a "buy" rating and lifted their price target for the company from $145.00 to $177.00 in a research note on Tuesday, June 10th. Sanford C. Bernstein set a $164.00 price objective on Yum! Brands in a research report on Tuesday, August 5th. TD Cowen reduced their price objective on Yum! Brands from $158.00 to $156.00 and set a "hold" rating on the stock in a research note on Tuesday, August 5th. Finally, Morgan Stanley lowered their target price on Yum! Brands from $153.00 to $151.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Eleven research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, Yum! Brands has a consensus rating of "Hold" and an average target price of $161.32.

Insider Buying and Selling at Yum! Brands

In related news, CEO Scott Mezvinsky sold 275 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $152.59, for a total transaction of $41,962.25. Following the completion of the transaction, the chief executive officer directly owned 1,755 shares of the company's stock, valued at $267,795.45. This trade represents a 13.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Weir Mirian M. Graddick sold 2,038 shares of Yum! Brands stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $145.30, for a total value of $296,121.40. Following the transaction, the director directly owned 1,233 shares in the company, valued at $179,154.90. The trade was a 62.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,195 shares of company stock worth $5,348,137 over the last ninety days. 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.

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