British Columbia Investment Management Corp reduced its stake in Yum Brands Inc. (NYSE:YUM) by 23.1% during the third quarter, Holdings Channel reports. The fund owned 121,523 shares of the restaurant operator’s stock after selling 36,522 shares during the period. British Columbia Investment Management Corp’s holdings in Yum Brands were worth $11,036,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Klingenstein Fields & Co. LLC raised its position in shares of Yum Brands by 3.3% in the second quarter. Klingenstein Fields & Co. LLC now owns 281,427 shares of the restaurant operator’s stock valued at $23,336,000 after buying an additional 9,080 shares during the period. Trexquant Investment LP acquired a new stake in Yum Brands during the second quarter valued at about $2,173,000. Smith Asset Management Group LP acquired a new stake in Yum Brands during the second quarter valued at about $16,815,000. CWM LLC raised its stake in Yum Brands by 25.1% in the second quarter. CWM LLC now owns 217,409 shares of the restaurant operator’s stock valued at $18,028,000 after buying an additional 43,650 shares during the last quarter. Finally, Cullinan Associates Inc. raised its stake in Yum Brands by 4.7% in the third quarter. Cullinan Associates Inc. now owns 67,150 shares of the restaurant operator’s stock valued at $6,098,000 after buying an additional 3,000 shares during the last quarter. 78.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Yum Brands Inc. (NYSE:YUM) traded up 0.30% during mid-day trading on Friday, hitting $63.34. 871,985 shares of the stock traded hands. The firm has a 50 day moving average of $61.97 and a 200 day moving average of $62.14. The stock has a market cap of $23.25 billion, a price-to-earnings ratio of 16.30 and a beta of 0.78. Yum Brands Inc. has a 12 month low of $46.43 and a 12 month high of $66.13.
Yum Brands (NYSE:YUM) last posted its quarterly earnings data on Wednesday, October 5th. The restaurant operator reported $1.09 EPS for the quarter, missing the consensus estimate of $1.10 by $0.01. The firm had revenue of $3.32 billion for the quarter. Yum Brands had a negative return on equity of 589.18% and a net margin of 12.62%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. On average, equities analysts expect that Yum Brands Inc. will post $2.40 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 4th. Investors of record on Wednesday, October 19th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, October 17th. This is a positive change from Yum Brands’s previous quarterly dividend of $0.46. Yum Brands’s payout ratio is 51.91%.
Several research firms have issued reports on YUM. BTIG Research restated a “hold” rating on shares of Yum Brands in a research report on Sunday, September 4th. Barclays PLC upped their price target on shares of Yum Brands from $88.00 to $92.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 12th. Deutsche Bank AG increased their target price on shares of Yum Brands from $83.00 to $86.00 and gave the stock a “hold” rating in a report on Friday, September 30th. RBC Capital Markets lowered shares of Yum Brands from a “top pick” rating to an “outperform” rating and set a $97.00 target price for the company. in a report on Friday, September 23rd. They noted that the move was a valuation call. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $98.00 target price on shares of Yum Brands in a report on Wednesday, October 5th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Yum Brands currently has a consensus rating of “Hold” and an average price target of $91.72.
In other Yum Brands news, CFO David W. Gibbs sold 14,487 shares of the company’s stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $89.92, for a total transaction of $1,302,671.04. Following the transaction, the chief financial officer now owns 48,261 shares in the company, valued at approximately $4,339,629.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Roger G. Eaton sold 53,518 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $91.72, for a total transaction of $4,908,670.96. Following the transaction, the chief executive officer now owns 245,736 shares in the company, valued at approximately $22,538,905.92. The disclosure for this sale can be found here. Corporate insiders own 7.38% of the company’s stock.
About Yum Brands
YUM! Brands, Inc (YUM) is engaged in restaurant business. The Company develops, operates, franchises and licenses an across the world system of restaurants, which prepare, package and sell a menu of food items, primarily through the three concepts of KFC, Pizza Hut and Taco Bell (the Concepts). YUM operates through four segments: YUM China (China Division), which includes all operations in mainland China; The KFC Division, which includes all operations of the KFC concept outside of China Division; The Pizza Hut Division, which includes all operations of the Pizza Hut concept outside of China Division, and the Taco Bell Division, which includes all operations of the Taco Bell concept.