Great West Life Assurance Co. Can cut its stake in Yum! Brands, Inc. (NYSE:YUM) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 283,728 shares of the restaurant operator’s stock after selling 28,460 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.10% of Yum! Brands worth $32,623,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of YUM. Baldrige Asset Management LLC acquired a new position in shares of Yum! Brands in the second quarter worth $26,000. Evoke Wealth LLC increased its position in Yum! Brands by 964.0% during the first quarter. Evoke Wealth LLC now owns 266 shares of the restaurant operator’s stock worth $29,000 after buying an additional 241 shares during the last quarter. Logan Capital Management Inc. acquired a new position in Yum! Brands during the first quarter worth $32,000. KB Financial Partners LLC acquired a new position in Yum! Brands during the first quarter worth $35,000. Finally, Certified Advisory Corp acquired a new position in Yum! Brands during the first quarter worth $43,000. 78.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of Yum! Brands stock opened at $125.52 on Friday. The firm has a market cap of $37.11 billion, a P/E ratio of 28.79, a P/E/G ratio of 2.44 and a beta of 1.09. The firm has a 50 day simple moving average of $129.39 and a 200 day simple moving average of $120.55. Yum! Brands, Inc. has a fifty-two week low of $89.73 and a fifty-two week high of $135.77.
The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 27th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 26th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.59%. Yum! Brands’s dividend payout ratio is 55.25%.
In related news, COO Tracy L. Skeans sold 18,824 shares of the business’s stock in a transaction on Friday, July 30th. The shares were sold at an average price of $129.71, for a total value of $2,441,661.04. Following the sale, the chief operating officer now directly owns 20,729 shares of the company’s stock, valued at approximately $2,688,758.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Lowings sold 2,517 shares of the business’s stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $115.49, for a total transaction of $290,688.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,606 shares of company stock worth $4,433,076. Insiders own 0.37% of the company’s stock.
Several research firms have commented on YUM. Argus increased their target price on shares of Yum! Brands from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. Citigroup downgraded Yum! Brands from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 26th. Barclays raised their price target on Yum! Brands from $115.00 to $121.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 1st. Guggenheim began coverage on Yum! Brands in a research report on Monday, July 26th. They issued a “buy” rating and a $135.00 price target on the stock. Finally, Zacks Investment Research raised Yum! Brands from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Monday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $127.63.
Yum! Brands Profile
Yum! Brands, Inc operates as a service restaurant company. The firm engages in the development, operation, franchise, and licenses a system of restaurants. It operates through the following segments: KFC Division, Pizza Hut Division, Taco Bell Division, and Habit Burger Grill Division. The KFC Division segment comprises of all operations of the KFC concept.
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