Peapack Gladstone Financial Corp Grows Position in Yum! Brands, Inc. (YUM)
Peapack Gladstone Financial Corp increased its position in shares of Yum! Brands, Inc. (NYSE:YUM) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,891 shares of the restaurant operator’s stock after purchasing an additional 73 shares during the period. Peapack Gladstone Financial Corp’s holdings in Yum! Brands were worth $508,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Yum! Brands by 1.0% during the 2nd quarter. Principal Financial Group Inc. now owns 985,546 shares of the restaurant operator’s stock worth $72,694,000 after purchasing an additional 9,754 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Yum! Brands by 25.7% during the 2nd quarter. Teachers Advisors LLC now owns 556,212 shares of the restaurant operator’s stock worth $41,026,000 after purchasing an additional 113,582 shares during the last quarter. Whalerock Point Partners LLC lifted its holdings in Yum! Brands by 3.0% during the 2nd quarter. Whalerock Point Partners LLC now owns 8,500 shares of the restaurant operator’s stock worth $627,000 after purchasing an additional 250 shares during the last quarter. Delta Lloyd Asset Management N.V. acquired a new stake in Yum! Brands during the 2nd quarter worth approximately $13,136,000. Finally, Bank of Montreal Can lifted its holdings in Yum! Brands by 81.5% during the 2nd quarter. Bank of Montreal Can now owns 754,879 shares of the restaurant operator’s stock worth $55,679,000 after purchasing an additional 338,941 shares during the last quarter. 72.06% of the stock is owned by institutional investors and hedge funds.
In related news, CFO David W. Gibbs sold 8,336 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $74.00, for a total value of $616,864.00. Following the sale, the chief financial officer now directly owns 39,664 shares of the company’s stock, valued at $2,935,136. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.38% of the stock is owned by company insiders.
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YUM has been the subject of several research reports. Robert W. Baird reissued a “hold” rating and set a $78.00 price target on shares of Yum! Brands in a report on Friday, September 8th. Zacks Investment Research raised Yum! Brands from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Thursday, July 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of Yum! Brands in a report on Monday, September 11th. Oppenheimer Holdings, Inc. lifted their price objective on Yum! Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Finally, CIBC lifted their price objective on Yum! Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $79.89.
Shares of Yum! Brands, Inc. (YUM) traded up 1.81% on Friday, hitting $75.93. The stock had a trading volume of 2,748,361 shares. Yum! Brands, Inc. has a 1-year low of $59.57 and a 1-year high of $78.14. The firm has a market capitalization of $26.18 billion, a price-to-earnings ratio of 20.16 and a beta of 0.81. The firm has a 50 day moving average of $75.66 and a 200-day moving average of $71.93.
Yum! Brands (NYSE:YUM) last posted its earnings results on Thursday, August 3rd. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.07. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Yum! Brands had a negative return on equity of 24.95% and a net margin of 16.76%. Yum! Brands’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. Equities analysts predict that Yum! Brands, Inc. will post $2.81 earnings per share for the current year.
About Yum! Brands
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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