OLD National Bancorp IN Reduces Holdings in Yum! Brands, Inc. $YUM

OLD National Bancorp IN reduced its position in Yum! Brands, Inc. (NYSE:YUM) by 3.6% in the 2nd quarter, Holdings Channel reports. The firm owned 2,907 shares of the restaurant operator’s stock after selling 109 shares during the period. OLD National Bancorp IN’s holdings in Yum! Brands were worth $431,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in YUM. Manchester Capital Management LLC boosted its holdings in shares of Yum! Brands by 78.0% in the first quarter. Manchester Capital Management LLC now owns 162 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 71 shares during the period. Greykasell Wealth Strategies Inc. purchased a new stake in Yum! Brands in the 1st quarter valued at $25,000. HFM Investment Advisors LLC acquired a new stake in Yum! Brands during the 1st quarter worth $25,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Yum! Brands during the second quarter worth about $29,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Yum! Brands during the first quarter worth about $32,000. Hedge funds and other institutional investors own 82.37% of the company’s stock.

Insider Transactions at Yum! Brands

In other news, COO Tracy L. Skeans sold 12,220 shares of Yum! Brands stock in a transaction on Friday, August 15th. The stock was sold at an average price of $148.24, for a total transaction of $1,811,492.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David W. Gibbs sold 7,176 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $149.80, for a total transaction of $1,074,964.80. Following the completion of the sale, the chief executive officer directly owned 102,893 shares in the company, valued at approximately $15,413,371.40. The trade was a 6.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,195 shares of company stock valued at $5,348,137 in the last three months. 0.33% of the stock is owned by company insiders.

Yum! Brands Stock Down 1.4%

Shares of NYSE YUM opened at $146.64 on Wednesday. The stock has a market capitalization of $40.70 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72. Yum! Brands, Inc. has a 52 week low of $122.13 and a 52 week high of $163.30. The firm has a 50-day moving average price of $147.16 and a 200 day moving average price of $147.07.

Yum! Brands (NYSE:YUM) last issued its earnings results on Tuesday, August 5th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Yum! Brands had a net margin of 18.11% and a negative return on equity of 21.01%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business posted $1.35 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that Yum! Brands, Inc. will post 5.94 EPS for the current fiscal year.

Yum! Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, September 2nd. Yum! Brands’s payout ratio is presently 56.02%.

Analysts Set New Price Targets

Several analysts have commented on the company. Wells Fargo & Company reduced their price objective on Yum! Brands from $160.00 to $155.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Piper Sandler upped their price target on Yum! Brands from $155.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Morgan Stanley decreased their price target on Yum! Brands from $153.00 to $151.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. JPMorgan Chase & Co. dropped their price objective on shares of Yum! Brands from $162.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. Finally, Melius began coverage on shares of Yum! Brands in a research report on Monday, July 14th. They set a “buy” rating and a $200.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, Yum! Brands has a consensus rating of “Hold” and a consensus target price of $161.32.

Yum! Brands Company Profile

Yum! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. The company operates through the KFC Division, the Taco Bell Division, the Pizza Hut Division, and the Habit Burger Grill Division segments. It also operates restaurants under the KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill brands, which specialize in chicken, pizza, made-to-order chargrilled burgers, sandwiches, Mexican-style food categories, and other food products.