Reliance Trust Co. of Delaware Sells 18,461 Shares of Yum Brands Inc. (YUM)
Reliance Trust Co. of Delaware lowered its stake in Yum Brands Inc. (NYSE:YUM) by 53.1% during the third quarter, Holdings Channel reports. The fund owned 16,299 shares of the restaurant operator’s stock after selling 18,461 shares during the period. Reliance Trust Co. of Delaware’s holdings in Yum Brands were worth $1,480,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of YUM. Klingenstein Fields & Co. LLC boosted its stake in Yum Brands by 3.3% in the second quarter. Klingenstein Fields & Co. LLC now owns 281,427 shares of the restaurant operator’s stock valued at $23,336,000 after buying an additional 9,080 shares during the period. Trexquant Investment LP purchased a new position in Yum Brands during the second quarter worth approximately $2,173,000. Smith Asset Management Group LP purchased a new position in Yum Brands during the second quarter worth approximately $16,815,000. Cullinan Associates Inc. boosted its position in Yum Brands by 4.7% in the third quarter. Cullinan Associates Inc. now owns 67,150 shares of the restaurant operator’s stock worth $6,098,000 after buying an additional 3,000 shares during the last quarter. Finally, CWM LLC boosted its position in Yum Brands by 25.1% in the second quarter. CWM LLC now owns 217,409 shares of the restaurant operator’s stock worth $18,028,000 after buying an additional 43,650 shares during the last quarter. Institutional investors and hedge funds own 73.26% of the company’s stock.
Shares of Yum Brands Inc. (NYSE:YUM) traded down 0.24% during trading on Wednesday, hitting $63.39. The stock had a trading volume of 4,875,838 shares. The firm has a market cap of $23.26 billion, a P/E ratio of 16.31 and a beta of 0.78. Yum Brands Inc. has a 12-month low of $46.43 and a 12-month high of $66.13. The firm has a 50 day moving average price of $61.99 and a 200 day moving average price of $62.27.
Yum Brands (NYSE:YUM) last issued its quarterly earnings data on Wednesday, October 5th. The restaurant operator reported $1.09 EPS for the quarter, missing the consensus estimate of $1.10 by $0.01. Yum Brands had a net margin of 12.62% and a negative return on equity of 589.18%. The business had revenue of $3.32 billion for the quarter. During the same period in the previous year, the company posted $1.00 EPS. The company’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts expect that Yum Brands Inc. will post $2.40 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 4th. Stockholders of record on Wednesday, October 19th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Monday, October 17th. This is a positive change from Yum Brands’s previous quarterly dividend of $0.46. Yum Brands’s dividend payout ratio is currently 51.91%.
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A number of research firms have recently commented on YUM. Credit Suisse Group AG upgraded Yum Brands from a “neutral” rating to an “outperform” rating and raised their target price for the company from $90.00 to $96.00 in a research note on Wednesday, October 19th. Vetr upgraded Yum Brands from a “sell” rating to a “buy” rating and set a $95.24 target price for the company in a research note on Monday, September 26th. Morgan Stanley raised their target price on Yum Brands from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 28th. Zacks Investment Research cut Yum Brands from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. Finally, Barclays PLC raised their target price on Yum Brands from $88.00 to $92.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Yum Brands has an average rating of “Hold” and a consensus target price of $91.72.
In other news, CEO Roger G. Eaton sold 53,518 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $91.72, for a total transaction of $4,908,670.96. Following the completion of the sale, the chief executive officer now owns 245,736 shares in the company, valued at approximately $22,538,905.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David W. Gibbs sold 14,487 shares of the company’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $89.92, for a total value of $1,302,671.04. Following the completion of the transaction, the chief financial officer now directly owns 48,261 shares in the company, valued at $4,339,629.12. The disclosure for this sale can be found here. Insiders own 7.38% of the company’s stock.
Yum Brands Company Profile
YUM! Brands, Inc (YUM) is engaged in restaurant business. The Company develops, operates, franchises and licenses an across the world system of restaurants, which prepare, package and sell a menu of food items, primarily through the three concepts of KFC, Pizza Hut and Taco Bell (the Concepts). YUM operates through four segments: YUM China (China Division), which includes all operations in mainland China; The KFC Division, which includes all operations of the KFC concept outside of China Division; The Pizza Hut Division, which includes all operations of the Pizza Hut concept outside of China Division, and the Taco Bell Division, which includes all operations of the Taco Bell concept.
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