Vident Investment Advisory LLC Buys Shares of 5,775 Yum! Brands, Inc. (YUM)
Vident Investment Advisory LLC bought a new stake in Yum! Brands, Inc. (NYSE:YUM) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,775 shares of the restaurant operator’s stock, valued at approximately $425,000.
A number of other large investors have also recently added to or reduced their stakes in YUM. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Yum! Brands in the 2nd quarter valued at about $102,713,000. Bank of New York Mellon Corp lifted its holdings in Yum! Brands by 18.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,910,196 shares of the restaurant operator’s stock valued at $582,270,000 after purchasing an additional 1,220,537 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Yum! Brands by 224.3% during the 2nd quarter. Prudential Financial Inc. now owns 1,549,775 shares of the restaurant operator’s stock worth $114,311,000 after acquiring an additional 1,071,899 shares during the period. Frontier Capital Management Co. LLC purchased a new position in shares of Yum! Brands during the 2nd quarter worth about $56,123,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Yum! Brands by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 22,604,873 shares of the restaurant operator’s stock worth $1,667,335,000 after acquiring an additional 711,910 shares during the period. Institutional investors own 73.91% of the company’s stock.
Several research analysts have recently weighed in on the stock. Oppenheimer increased their price objective on shares of Yum! Brands from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, September 8th. Robert W. Baird reiterated a “hold” rating and set a $78.00 price objective on shares of Yum! Brands in a report on Friday, September 8th. Jefferies Group increased their price objective on shares of Yum! Brands from $66.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. J P Morgan Chase & Co reiterated a “buy” rating and set a $80.00 price objective on shares of Yum! Brands in a report on Monday, October 2nd. Finally, Mizuho set a $74.00 price objective on shares of Yum! Brands and gave the stock a “hold” rating in a report on Wednesday, November 1st. Twelve investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $80.95.
Yum! Brands (NYSE:YUM) last issued its quarterly earnings data on Thursday, November 2nd. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Yum! Brands had a net margin of 18.51% and a negative return on equity of 17.19%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company earned $1.09 earnings per share. Yum! Brands’s revenue for the quarter was down 5.4% on a year-over-year basis. equities research analysts forecast that Yum! Brands, Inc. will post 2.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.46%. The ex-dividend date was Tuesday, November 14th. Yum! Brands’s dividend payout ratio (DPR) is 37.04%.
Yum! Brands declared that its board has approved a stock buyback plan on Friday, November 17th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the restaurant operator to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, CEO Brian R. Niccol sold 3,588 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $79.90, for a total transaction of $286,681.20. Following the completion of the transaction, the chief executive officer now directly owns 15,075 shares in the company, valued at approximately $1,204,492.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brian R. Niccol sold 927 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $83.46, for a total value of $77,367.42. The disclosure for this sale can be found here. Insiders sold 8,833 shares of company stock valued at $711,907 in the last ninety days. 7.38% of the stock is owned by corporate insiders.
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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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