Westpac Banking Corp lowered its position in Yum! Brands, Inc. (NYSE:YUM) by 11.8% during the first quarter, Holdings Channel reports. The firm owned 46,198 shares of the restaurant operator’s stock after selling 6,201 shares during the period. Westpac Banking Corp’s holdings in Yum! Brands were worth $3,291,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in YUM. Bank of New York Mellon Corp raised its stake in shares of Yum! Brands by 11.9% in the first quarter. Bank of New York Mellon Corp now owns 7,100,759 shares of the restaurant operator’s stock worth $453,737,000 after buying an additional 755,288 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of Yum! Brands by 5.4% in the fourth quarter. Loomis Sayles & Co. L P now owns 6,361,889 shares of the restaurant operator’s stock worth $402,899,000 after buying an additional 323,309 shares during the period. FMR LLC raised its stake in shares of Yum! Brands by 6.2% in the fourth quarter. FMR LLC now owns 3,910,042 shares of the restaurant operator’s stock worth $247,623,000 after buying an additional 228,283 shares during the period. Norges Bank bought a new stake in shares of Yum! Brands during the fourth quarter worth about $244,932,000. Finally, Coronation Fund Managers Ltd. raised its stake in shares of Yum! Brands by 11.1% in the first quarter. Coronation Fund Managers Ltd. now owns 1,998,849 shares of the restaurant operator’s stock worth $127,727,000 after buying an additional 199,984 shares during the period. 74.84% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Yum! Brands (NYSE:YUM)

Yum! Brands, Inc. (YUM) opened at 72.78 on Friday. Yum! Brands, Inc. has a 52-week low of $56.89 and a 52-week high of $74.50. The company’s 50 day moving average price is $70.85 and its 200 day moving average price is $66.29. The firm has a market cap of $25.34 billion, a PE ratio of 18.33 and a beta of 0.74.

Yum! Brands (NYSE:YUM) last posted its quarterly earnings results on Wednesday, May 3rd. The restaurant operator reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. Yum! Brands had a negative return on equity of 37.63% and a net margin of 15.44%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the company posted $0.95 earnings per share. Yum! Brands’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts predict that Yum! Brands, Inc. will post $2.77 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 4th. Investors of record on Friday, July 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Wednesday, July 12th. Yum! Brands’s payout ratio is currently 31.17%.

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A number of research analysts have recently weighed in on the company. BMO Capital Markets reiterated a “hold” rating and set a $66.00 price target on shares of Yum! Brands in a report on Monday, May 22nd. Royal Bank Of Canada lifted their price target on Yum! Brands from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. BidaskClub downgraded Yum! Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Deutsche Bank AG reiterated a “hold” rating and set a $71.00 price target (up previously from $68.00) on shares of Yum! Brands in a report on Tuesday, May 30th. Finally, CIBC lifted their price target on Yum! Brands from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Yum! Brands presently has a consensus rating of “Hold” and a consensus target price of $77.70.

In related news, CEO Brian R. Niccol sold 1,471 shares of Yum! Brands stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $72.64, for a total transaction of $106,853.44. Following the completion of the transaction, the chief executive officer now owns 6,712 shares in the company, valued at $487,559.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David W. Gibbs sold 8,125 shares of Yum! Brands stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $68.83, for a total value of $559,243.75. Following the transaction, the chief financial officer now owns 39,181 shares of the company’s stock, valued at approximately $2,696,828.23. The disclosure for this sale can be found here. Company insiders own 7.38% of the company’s stock.

Yum! Brands Company 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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