NorthCoast Asset Management LLC Acquires 2,236 Shares of Yum! Brands, Inc. (NYSE:YUM)

NorthCoast Asset Management LLC boosted its position in shares of Yum! Brands, Inc. (NYSE:YUM) by 3.2% during the 1st quarter, HoldingsChannel reports. The fund owned 71,662 shares of the restaurant operator’s stock after buying an additional 2,236 shares during the quarter. NorthCoast Asset Management LLC’s holdings in Yum! Brands were worth $7,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GPS Wealth Strategies Group LLC bought a new position in Yum! Brands during the first quarter valued at about $28,000. Evoke Wealth LLC increased its stake in Yum! Brands by 964.0% during the first quarter. Evoke Wealth LLC now owns 266 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 241 shares during the period. Childress Capital Advisors LLC bought a new position in Yum! Brands during the fourth quarter valued at about $30,000. Selective Wealth Management Inc. bought a new position in Yum! Brands during the first quarter valued at about $32,000. Finally, Total Clarity Wealth Management Inc. bought a new position in Yum! Brands during the first quarter valued at about $32,000. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Shares of YUM traded up $2.12 on Thursday, hitting $118.89. The company’s stock had a trading volume of 17,147 shares, compared to its average volume of 1,445,952. The firm has a market capitalization of $35.42 billion, a P/E ratio of 28.68, a PEG ratio of 2.34 and a beta of 1.09. Yum! Brands, Inc. has a fifty-two week low of $88.08 and a fifty-two week high of $122.72. The business has a 50 day moving average price of $117.90.

Yum! Brands (NYSE:YUM) last posted its quarterly earnings data on Tuesday, April 27th. The restaurant operator reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.20. Yum! Brands had a negative return on equity of 15.62% and a net margin of 19.52%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the business earned $0.64 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Research analysts anticipate that Yum! Brands, Inc. will post 4.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 11th. Shareholders of record on Friday, May 28th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.68%. The ex-dividend date was Thursday, May 27th. Yum! Brands’s dividend payout ratio is 55.25%.

Yum! Brands declared that its board has initiated a stock repurchase program on Monday, May 10th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the restaurant operator to buy up to 5.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Several brokerages recently issued reports on YUM. Argus upgraded Yum! Brands from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Wednesday, April 14th. Credit Suisse Group upped their price objective on Yum! Brands from $108.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, April 29th. They noted that the move was a valuation call. Atlantic Securities started coverage on Yum! Brands in a research note on Tuesday, April 6th. They issued a “neutral” rating and a $118.00 price objective on the stock. Robert W. Baird upped their price objective on Yum! Brands from $127.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, April 29th. Finally, Zacks Investment Research upgraded Yum! Brands from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Monday, June 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $118.72.

In other Yum! Brands news, COO Tracy L. Skeans sold 10,838 shares of the company’s stock in a transaction on Monday, May 24th. The stock was sold at an average price of $120.16, for a total transaction of $1,302,294.08. Following the transaction, the chief operating officer now owns 16,242 shares of the company’s stock, valued at approximately $1,951,638.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David W. Gibbs sold 46,473 shares of the company’s stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $118.38, for a total value of $5,501,473.74. Following the transaction, the chief executive officer now directly owns 57,426 shares in the company, valued at approximately $6,798,089.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,914 shares of company stock worth $7,577,087. Company insiders own 0.37% of the company’s stock.

Yum! Brands Profile

YUM! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. It operates through four segments: the KFC Division, the Pizza Hut Division, the Taco Bell Division, and the Habit Burger Grill Division. The company 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.

Featured Story: Buyback

Want to see what other hedge funds are holding YUM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Yum! Brands, Inc. (NYSE:YUM).

Institutional Ownership by Quarter for Yum! Brands (NYSE:YUM)

Receive News & Ratings for Yum! Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yum! Brands and related companies with MarketBeat.com's FREE daily email newsletter.