Millennium Management LLC increased its position in Yum! Brands, Inc. (NYSE:YUM) by 447.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,404,786 shares of the restaurant operator’s stock after buying an additional 1,148,364 shares during the quarter. Millennium Management LLC owned about 0.44% of Yum! Brands worth $109,882,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in YUM. Sustainable Growth Advisers LP lifted its holdings in shares of Yum! Brands by 100.7% in the first quarter. Sustainable Growth Advisers LP now owns 4,285,804 shares of the restaurant operator’s stock valued at $364,850,000 after buying an additional 2,150,761 shares during the period. Alps Advisors Inc. lifted its holdings in shares of Yum! Brands by 35,520.9% in the second quarter. Alps Advisors Inc. now owns 920,088 shares of the restaurant operator’s stock valued at $75,097,000 after buying an additional 917,505 shares during the period. BlackRock Inc. lifted its holdings in shares of Yum! Brands by 3.8% in the second quarter. BlackRock Inc. now owns 21,758,890 shares of the restaurant operator’s stock valued at $1,701,978,000 after buying an additional 802,066 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Yum! Brands in the second quarter valued at $41,120,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Yum! Brands by 419.3% in the second quarter. Acadian Asset Management LLC now owns 598,783 shares of the restaurant operator’s stock valued at $46,838,000 after buying an additional 483,467 shares during the period. Institutional investors and hedge funds own 71.71% of the company’s stock.
Several brokerages have recently weighed in on YUM. UBS Group set a $99.00 price objective on Yum! Brands and gave the company a “buy” rating in a report on Monday, September 10th. ValuEngine upgraded Yum! Brands from a “hold” rating to a “buy” rating in a report on Friday, September 7th. BMO Capital Markets restated a “hold” rating and issued a $88.00 price objective on shares of Yum! Brands in a report on Friday, August 3rd. BTIG Research upgraded Yum! Brands from a “neutral” rating to a “buy” rating in a report on Wednesday, June 27th. They noted that the move was a valuation call. Finally, Citigroup upped their price objective on Yum! Brands from $80.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, June 19th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $86.76.
Yum! Brands (NYSE:YUM) last announced its earnings results on Thursday, August 2nd. The restaurant operator reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. Yum! Brands had a negative return on equity of 17.36% and a net margin of 27.95%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $0.68 earnings per share. Yum! Brands’s revenue was down 5.5% compared to the same quarter last year. research analysts anticipate that Yum! Brands, Inc. will post 3.48 earnings per share for the current fiscal year.
Yum! Brands announced that its Board of Directors has approved a stock repurchase plan on Friday, August 10th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the restaurant operator to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Monday, August 20th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, August 17th. Yum! Brands’s dividend payout ratio is 48.65%.
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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