Renaissance Technologies LLC bought a new position in shares of Yum! Brands, Inc. (NYSE:YUM) during the second quarter, Holdings Channel reports. The institutional investor bought 525,700 shares of the restaurant operator’s stock, valued at approximately $41,120,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlueMountain Capital Management LLC bought a new position in Yum! Brands during the second quarter worth $3,185,000. Burney Co. boosted its position in Yum! Brands by 53.8% during the second quarter. Burney Co. now owns 68,088 shares of the restaurant operator’s stock worth $5,326,000 after purchasing an additional 23,810 shares during the period. Korea Investment CORP boosted its position in Yum! Brands by 47.0% during the second quarter. Korea Investment CORP now owns 143,855 shares of the restaurant operator’s stock worth $11,252,000 after purchasing an additional 46,000 shares during the period. Elite Wealth Management Inc. boosted its position in Yum! Brands by 11.0% during the second quarter. Elite Wealth Management Inc. now owns 15,274 shares of the restaurant operator’s stock worth $1,195,000 after purchasing an additional 1,518 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its position in Yum! Brands by 34.2% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 59,659 shares of the restaurant operator’s stock worth $4,667,000 after purchasing an additional 15,192 shares during the period. Institutional investors and hedge funds own 71.71% of the company’s stock.
A number of equities analysts have commented on YUM shares. UBS Group set a $99.00 price objective on shares of Yum! Brands and gave the stock a “buy” rating in a research report on Monday, September 10th. BTIG Research raised shares of Yum! Brands from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 27th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and set a $88.00 price objective on shares of Yum! Brands in a research report on Friday, August 3rd. ValuEngine cut shares of Yum! Brands from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Finally, Citigroup lifted their price objective on shares of Yum! Brands from $80.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 19th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $86.76.
Shares of Yum! Brands stock opened at $88.14 on Friday. The stock has a market capitalization of $28.03 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 1.99 and a beta of 0.86. Yum! Brands, Inc. has a 52-week low of $72.61 and a 52-week high of $89.00. The company has a debt-to-equity ratio of -1.33, a current ratio of 1.30 and a quick ratio of 1.30.
Yum! Brands (NYSE:YUM) last announced its earnings results on Thursday, August 2nd. The restaurant operator reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.08. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Yum! Brands had a net margin of 27.95% and a negative return on equity of 17.36%. Yum! Brands’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 earnings per share. analysts anticipate that Yum! Brands, Inc. will post 3.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Monday, August 20th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 17th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.63%. Yum! Brands’s payout ratio is presently 48.65%.
Yum! Brands announced that its Board of Directors has initiated a share buyback plan on Friday, August 10th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the restaurant operator to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
About Yum! Brands
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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