Citigroup Inc. restated their neutral rating on shares of Yum! Brands (NYSE:YUM) in a report released on Monday, AnalystRatings.NET reports. Citigroup Inc. currently has a $72.00 price objective on the stock, down from their previous price objective of $75.00.
“Mgmt mentioned 4Q China SSS will be better than 3Q SSS, but not positive as they originally planned. The co mentioned softer than expected results from their beef burger launch impacted Sept SSS. Restaurant margin in FY13 should be in the mid teens, though 4Q margin will moderate 3pts vs. 3Q due to higher inflation (inflation was flat in 3Q, and modestly positive in 4Q and unrelated to supply chain changes made by YUM) and losing 1pt of pricing. Mgmt expects a bounce back in 2014 though mgmt believes it’s challenging to predict SSS at this point. Expect CRM to be similar to ’12 levels in ’14, which implies at least 40% growth. The co expects to implement pricing to match the rate of inflation. Occupancy costs should be relatively stable, but labor inflation should increase (inflation of HSD for ’13, but up low to mid DD in ’14.).,” the firm’s analyst commented.
In other Yum! Brands news, Director Robert Walter acquired 20,000 shares of Yum! Brands stock in a transaction dated Thursday, October 10th. The shares were purchased at an average cost of $66.09 per share, with a total value of $1,321,800.00. Following the completion of the acquisition, the director now directly owns 108,301 shares of the company’s stock, valued at approximately $7,157,613. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Yum! Brands (NYSE:YUM) opened at 65.80 on Monday. Yum! Brands has a one year low of $59.68 and a one year high of $75.13. The stock has a 50-day moving average of $70.76 and a 200-day moving average of $70.39. The company has a market cap of $29.281 billion and a P/E ratio of 27.57.
Yum! Brands (NYSE:YUM) last released its earnings data on Wednesday, October 9th. The company reported $0.85 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.93 by $0.08. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts expect that Yum! Brands will post $2.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Stockholders of record on Friday, October 11th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Wednesday, October 9th. This is a boost from Yum! Brands’s previous quarterly dividend of $0.34.
YUM has been the subject of a number of other recent research reports. Analysts at Susquehanna cut their price target on shares of Yum! Brands from $73.00 to $69.00 in a research note to investors on Thursday, October 10th. They now have a neutral rating on the stock. Separately, analysts at Goldman Sachs Group Inc. cut their price target on shares of Yum! Brands from $73.00 to $69.00 in a research note to investors on Thursday, October 10th. They now have a neutral rating on the stock. Finally, analysts at Zacks reiterated a neutral rating on shares of Yum! Brands in a research note to investors on Thursday, October 10th. They now have a $70.00 price target on the stock. Seventeen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $72.50.
Yum! Brands, Inc (NYSE:YUM) is a quick service restaurant company based on number of system units, with approximately 37,000 units in more than 120 countries and territories.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.