Chevy Chase Trust Holdings Inc. Raises Position in Yum! Brands, Inc. (YUM)
Chevy Chase Trust Holdings Inc. increased its position in shares of Yum! Brands, Inc. (NYSE:YUM) by 5.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 309,376 shares of the restaurant operator’s stock after acquiring an additional 15,384 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.09% of Yum! Brands worth $22,773,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Magnetar Financial LLC lifted its holdings in Yum! Brands by 153.3% during the 3rd quarter. Magnetar Financial LLC now owns 38,135 shares of the restaurant operator’s stock worth $2,807,000 after buying an additional 23,081 shares during the period. King Luther Capital Management Corp lifted its holdings in Yum! Brands by 270.2% during the 3rd quarter. King Luther Capital Management Corp now owns 40,397 shares of the restaurant operator’s stock worth $2,974,000 after buying an additional 29,485 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Yum! Brands by 4.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 44,425 shares of the restaurant operator’s stock worth $3,272,000 after buying an additional 2,027 shares during the period. ARGI Investment Services LLC lifted its holdings in Yum! Brands by 1.2% during the 3rd quarter. ARGI Investment Services LLC now owns 62,838 shares of the restaurant operator’s stock worth $4,623,000 after buying an additional 752 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in Yum! Brands by 13.6% during the 3rd quarter. Private Advisor Group LLC now owns 23,729 shares of the restaurant operator’s stock worth $1,797,000 after buying an additional 2,836 shares during the period. Institutional investors and hedge funds own 73.91% of the company’s stock.
In related news, CEO Brian R. Niccol sold 927 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $83.46, for a total transaction of $77,367.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David W. Gibbs sold 4,318 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $80.56, for a total value of $347,858.08. Following the transaction, the chief financial officer now directly owns 39,396 shares in the company, valued at $3,173,741.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,833 shares of company stock worth $711,907. 0.65% of the stock is owned by company insiders.
Yum! Brands (NYSE:YUM) last announced its quarterly earnings data on Thursday, November 2nd. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. Yum! Brands had a negative return on equity of 17.19% and a net margin of 18.51%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. research analysts predict that Yum! Brands, Inc. will post 2.81 EPS for the current fiscal year.
Yum! Brands declared that its board has authorized a share repurchase program on Friday, November 17th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Tuesday, November 14th. Yum! Brands’s dividend payout ratio is 70.18%.
Several research analysts have commented on YUM shares. Robert W. Baird reaffirmed a “hold” rating and set a $78.00 target price on shares of Yum! Brands in a report on Friday, September 8th. Zacks Investment Research raised Yum! Brands from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $83.00 target price on shares of Yum! Brands in a report on Monday, September 11th. CIBC lifted their target price on Yum! Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, September 8th. Finally, Oppenheimer lifted their target price on Yum! Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, September 8th. Twelve equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Yum! Brands has a consensus rating of “Buy” and a consensus target price of $80.95.
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Yum! Brands Profile
YUM! Brands, Inc is engaged in restaurant business. As of December 31, 2016, the Company operated or franchised over 43,500 restaurants in more than 135 countries and territories operating under the KFC, Pizza Hut or Taco Bell (collectively the Concepts) brands. The Company operates through three segments: The KFC Division, which includes the operations of the KFC concept around the world; The Pizza Hut Division, which includes the operations of the Pizza Hut concept around the world, and The Taco Bell Division, which includes the operations of the Taco Bell concept around the world.
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