41,186 Shares in Yum! Brands, Inc. (YUM) Purchased by Marshall Wace LLP
Marshall Wace LLP acquired a new position in Yum! Brands, Inc. (NYSE:YUM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 41,186 shares of the restaurant operator’s stock, valued at approximately $3,222,000.
Several other institutional investors and hedge funds have also made changes to their positions in YUM. Alps Advisors Inc. lifted its holdings in shares of Yum! Brands by 35,520.9% in the 2nd quarter. Alps Advisors Inc. now owns 920,088 shares of the restaurant operator’s stock worth $75,097,000 after acquiring an additional 917,505 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Yum! Brands by 3.8% in the 2nd quarter. BlackRock Inc. now owns 21,758,890 shares of the restaurant operator’s stock worth $1,701,978,000 after acquiring an additional 802,066 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Yum! Brands in the 2nd quarter worth approximately $41,120,000. Acadian Asset Management LLC lifted its holdings in shares of Yum! Brands by 419.3% in the 2nd quarter. Acadian Asset Management LLC now owns 598,783 shares of the restaurant operator’s stock worth $46,838,000 after acquiring an additional 483,467 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Yum! Brands by 57.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,311,033 shares of the restaurant operator’s stock worth $102,549,000 after acquiring an additional 475,994 shares during the last quarter. Hedge funds and other institutional investors own 71.37% of the company’s stock.
Shares of NYSE YUM opened at $88.29 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of -1.33. Yum! Brands, Inc. has a 52 week low of $72.61 and a 52 week high of $89.00. The firm has a market capitalization of $27.97 billion, a P/E ratio of 29.83, a PEG ratio of 1.97 and a beta of 0.86.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Monday, August 20th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Friday, August 17th. Yum! Brands’s payout ratio is currently 48.65%.
Yum! Brands declared that its Board of Directors has initiated a share buyback plan on Friday, August 10th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
A number of equities research analysts have recently weighed in on the stock. UBS Group set a $99.00 price objective on shares of Yum! Brands and gave the stock a “buy” rating in a report on Monday, September 10th. Citigroup lifted their target price on shares of Yum! Brands from $80.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 19th. BTIG Research raised shares of Yum! Brands from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 27th. They noted that the move was a valuation call. ValuEngine raised shares of Yum! Brands from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $88.00 target price on shares of Yum! Brands in a research note on Friday, August 3rd. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Yum! Brands presently has a consensus rating of “Buy” and a consensus price target of $86.76.
In other Yum! Brands news, CFO David W. Gibbs sold 6,369 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $87.83, for a total transaction of $559,389.27. Following the transaction, the chief financial officer now directly owns 47,701 shares of the company’s stock, valued at approximately $4,189,578.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.
Yum! Brands Company Profile
YUM! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. It operates in three segments: the KFC Division, the Pizza Hut Division, and the Taco Bell Division. The company operates restaurants under the KFC, Pizza Hut, and Taco Bell brands, which specialize in chicken, pizza, and Mexican-style food categories.
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