Teachers Retirement System of The State of Kentucky reduced its stake in shares of Yum! Brands, Inc. (NYSE:YUM) by 15.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,450 shares of the restaurant operator’s stock after selling 5,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Yum! Brands were worth $2,768,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of YUM. Asset Advisors Investment Management LLC bought a new position in shares of Yum! Brands in the third quarter worth about $136,000. Willingdon Wealth Management increased its stake in shares of Yum! Brands by 2,110.0% in the third quarter. Willingdon Wealth Management now owns 1,768 shares of the restaurant operator’s stock worth $161,000 after purchasing an additional 1,688 shares during the period. Legacy Financial Advisors Inc. increased its stake in shares of Yum! Brands by 54.3% in the third quarter. Legacy Financial Advisors Inc. now owns 2,057 shares of the restaurant operator’s stock worth $187,000 after purchasing an additional 724 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Yum! Brands in the second quarter worth about $199,000. Finally, Douglass Winthrop Advisors LLC bought a new position in shares of Yum! Brands in the third quarter worth about $201,000. Institutional investors own 73.08% of the company’s stock.
YUM stock opened at $87.03 on Friday. Yum! Brands, Inc. has a twelve month low of $75.88 and a twelve month high of $92.21. The stock has a market cap of $27.18 billion, a P/E ratio of 29.40, a PEG ratio of 1.85 and a beta of 0.85.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Monday, November 26th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, November 23rd. Yum! Brands’s dividend payout ratio (DPR) is presently 48.65%.
Yum! Brands announced that its board has authorized a share repurchase program on Friday, August 10th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the restaurant operator to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
A number of research firms have recently commented on YUM. Zacks Investment Research reiterated a “buy” rating and issued a $97.00 price objective on shares of Yum! Brands in a research note on Saturday, November 17th. ValuEngine upgraded Yum! Brands from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Gordon Haskett began coverage on Yum! Brands in a research note on Thursday, October 18th. They issued a “hold” rating and a $90.00 price objective on the stock. Stifel Nicolaus lowered Yum! Brands from a “buy” rating to a “hold” rating and set a $94.00 price objective on the stock. in a research note on Tuesday, October 23rd. Finally, BTIG Research lifted their price objective on Yum! Brands from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, October 10th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $90.75.
In related news, CFO David W. Gibbs sold 6,391 shares of Yum! Brands stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $88.22, for a total transaction of $563,814.02. Following the sale, the chief financial officer now directly owns 39,380 shares of the company’s stock, valued at $3,474,103.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP David Eric Russell sold 7,340 shares of Yum! Brands stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $90.00, for a total value of $660,600.00. Following the sale, the vice president now directly owns 25,960 shares in the company, valued at $2,336,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,289 shares of company stock worth $6,401,458. 0.63% of the stock is owned by company insiders.
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Yum! Brands Profile
YUM! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. It operates in three segments: the KFC Division, the Pizza Hut Division, and the Taco Bell Division. The company operates restaurants under the KFC, Pizza Hut, and Taco Bell brands, which specialize in chicken, pizza, and Mexican-style food categories.
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