Brown Advisory Inc. Trims Stake in Yum! Brands, Inc. (YUM)
Brown Advisory Inc. trimmed its stake in shares of Yum! Brands, Inc. (NYSE:YUM) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,115 shares of the restaurant operator’s stock after selling 1,272 shares during the period. Brown Advisory Inc.’s holdings in Yum! Brands were worth $3,920,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Asset Advisors Investment Management LLC acquired a new position in shares of Yum! Brands during the third quarter worth approximately $136,000. Willingdon Wealth Management lifted its position in shares of Yum! Brands by 2,110.0% during the third quarter. Willingdon Wealth Management now owns 1,768 shares of the restaurant operator’s stock worth $161,000 after purchasing an additional 1,688 shares in the last quarter. Legacy Financial Advisors Inc. lifted its position in shares of Yum! Brands by 54.3% during the third quarter. Legacy Financial Advisors Inc. now owns 2,057 shares of the restaurant operator’s stock worth $187,000 after purchasing an additional 724 shares in the last quarter. Douglass Winthrop Advisors LLC acquired a new position in shares of Yum! Brands during the third quarter worth approximately $201,000. Finally, ACG Wealth acquired a new position in shares of Yum! Brands during the third quarter worth approximately $202,000. Institutional investors own 70.89% of the company’s stock.
YUM opened at $90.68 on Thursday. The firm has a market capitalization of $28.80 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 1.94 and a beta of 0.80. Yum! Brands, Inc. has a twelve month low of $75.88 and a twelve month high of $93.24.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 26th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $1.44 annualized dividend and a yield of 1.59%. Yum! Brands’s dividend payout ratio (DPR) is presently 48.65%.
Yum! Brands announced that its board has authorized a stock buyback program on Friday, August 10th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the restaurant operator to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
A number of brokerages have recently issued reports on YUM. Zacks Investment Research reiterated a “buy” rating and set a $97.00 target price on shares of Yum! Brands in a research report on Saturday, November 17th. ValuEngine upgraded shares of Yum! Brands from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Gordon Haskett started coverage on shares of Yum! Brands in a report on Thursday, October 18th. They issued a “hold” rating and a $90.00 price objective on the stock. Stifel Nicolaus lowered shares of Yum! Brands from a “buy” rating to a “hold” rating and set a $94.00 price objective on the stock. in a report on Tuesday, October 23rd. Finally, Cowen restated a “buy” rating and issued a $100.00 price objective on shares of Yum! Brands in a report on Sunday. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $91.31.
In other Yum! Brands news, CEO Roger G. Eaton sold 44,823 shares of the stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $90.54, for a total value of $4,058,274.42. Following the sale, the chief executive officer now directly owns 160,726 shares in the company, valued at $14,552,132.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David W. Gibbs sold 6,391 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $88.22, for a total transaction of $563,814.02. Following the completion of the sale, the chief financial officer now owns 39,380 shares in the company, valued at $3,474,103.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,289 shares of company stock worth $6,401,458. Company insiders own 0.63% of the company’s stock.
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Yum! Brands 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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