South State CORP. reduced its position in Yum! Brands, Inc. (NYSE:YUM) by 6.4% in the first quarter, Holdings Channel.com reports. The fund owned 5,520 shares of the restaurant operator’s stock after selling 375 shares during the quarter. South State CORP.’s holdings in Yum! Brands were worth $597,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in YUM. Vectors Research Management LLC bought a new position in shares of Yum! Brands in the fourth quarter valued at approximately $26,000. Reby Advisors LLC bought a new position in shares of Yum! Brands in the fourth quarter valued at approximately $26,000. Perennial Advisors LLC bought a new position in shares of Yum! Brands in the fourth quarter valued at approximately $28,000. GPS Wealth Strategies Group LLC bought a new position in shares of Yum! Brands in the first quarter valued at approximately $28,000. Finally, Ellevest Inc. boosted its position in shares of Yum! Brands by 175.8% in the fourth quarter. Ellevest Inc. now owns 273 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 174 shares during the period. Institutional investors own 77.27% of the company’s stock.
Shares of NYSE YUM traded up $0.79 during mid-day trading on Friday, hitting $119.50. The stock had a trading volume of 14,309 shares, compared to its average volume of 1,636,779. Yum! Brands, Inc. has a 1 year low of $84.17 and a 1 year high of $122.72. The business’s 50 day moving average price is $118.19. The stock has a market capitalization of $35.60 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 2.44 and a beta of 1.09.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 11th. Investors of record on Friday, May 28th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, May 27th. Yum! Brands’s payout ratio is 55.25%.
Yum! Brands declared that its Board of Directors has initiated a share buyback plan on Monday, May 10th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 5.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
YUM has been the subject of a number of analyst reports. Argus upgraded shares of Yum! Brands from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a research report on Wednesday, April 14th. JPMorgan Chase & Co. lifted their target price on shares of Yum! Brands from $106.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, April 12th. They noted that the move was a valuation call. Barclays lifted their target price on shares of Yum! Brands from $115.00 to $121.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 1st. Credit Suisse Group lifted their target price on shares of Yum! Brands from $108.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, April 29th. They noted that the move was a valuation call. Finally, Atlantic Securities started coverage on shares of Yum! Brands in a research report on Tuesday, April 6th. They set a “neutral” rating and a $118.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Yum! Brands currently has an average rating of “Hold” and an average price target of $118.65.
In other Yum! Brands news, CEO David W. Gibbs sold 1,282 shares of the business’s stock in a transaction on Monday, March 29th. The shares were sold at an average price of $108.00, for a total transaction of $138,456.00. Following the transaction, the chief executive officer now directly owns 22,256 shares of the company’s stock, valued at approximately $2,403,648. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David W. Gibbs sold 1,362 shares of the business’s stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $118.47, for a total transaction of $161,356.14. Following the transaction, the chief executive officer now directly owns 22,256 shares in the company, valued at $2,636,668.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,325 shares of company stock worth $7,267,062. 0.37% of the stock is owned by insiders.
Yum! Brands Profile
YUM! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. It operates through four segments: the KFC Division, the Pizza Hut Division, the Taco Bell Division, and the Habit Burger Grill Division. The company 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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