Corebridge Financial Inc. Sells 2,678 Shares of Yum! Brands, Inc. (NYSE:YUM)

Corebridge Financial Inc. lowered its holdings in Yum! Brands, Inc. (NYSE:YUM) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 74,663 shares of the restaurant operator’s stock after selling 2,678 shares during the period. Corebridge Financial Inc.’s holdings in Yum! Brands were worth $10,017,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in YUM. HBK Sorce Advisory LLC grew its stake in shares of Yum! Brands by 2.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 2,664 shares of the restaurant operator’s stock valued at $357,000 after purchasing an additional 69 shares during the period. OLD Point Trust & Financial Services N A raised its stake in Yum! Brands by 0.5% during the fourth quarter. OLD Point Trust & Financial Services N A now owns 15,357 shares of the restaurant operator’s stock worth $2,060,000 after acquiring an additional 70 shares in the last quarter. Investment Partners LTD. raised its stake in Yum! Brands by 2.3% during the fourth quarter. Investment Partners LTD. now owns 3,231 shares of the restaurant operator’s stock worth $433,000 after acquiring an additional 72 shares in the last quarter. Bahl & Gaynor Inc. boosted its stake in shares of Yum! Brands by 5.0% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,575 shares of the restaurant operator’s stock valued at $211,000 after purchasing an additional 75 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC grew its holdings in shares of Yum! Brands by 3.9% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 2,165 shares of the restaurant operator’s stock worth $290,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 82.37% of the company’s stock.

Insider Activity at Yum! Brands

In related news, insider Erika Burkhardt sold 597 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $159.07, for a total transaction of $94,964.79. Following the sale, the insider now owns 64 shares of the company’s stock, valued at approximately $10,180.48. This trade represents a 90.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David W. Gibbs sold 30,604 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $159.46, for a total value of $4,880,113.84. Following the completion of the transaction, the chief executive officer now directly owns 160,296 shares of the company’s stock, valued at approximately $25,560,800.16. The trade was a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,132 shares of company stock worth $7,952,685. 0.31% of the stock is currently owned by company insiders.

Yum! Brands Trading Up 1.8 %

NYSE:YUM opened at $158.55 on Thursday. Yum! Brands, Inc. has a 1-year low of $122.13 and a 1-year high of $163.30. The firm has a market capitalization of $44.25 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 2.31 and a beta of 1.03. The business’s 50-day moving average price is $145.90 and its two-hundred day moving average price is $138.32.

Yum! Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a dividend of $0.71 per share. This is a positive change from Yum! Brands’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.84 annualized dividend and a yield of 1.79%. Yum! Brands’s dividend payout ratio (DPR) is presently 54.41%.

Analyst Upgrades and Downgrades

YUM has been the subject of several analyst reports. Cowen reissued a “hold” rating on shares of Yum! Brands in a report on Wednesday, March 5th. Wells Fargo & Company increased their price target on Yum! Brands from $145.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Morgan Stanley lifted their price objective on Yum! Brands from $146.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, March 13th. UBS Group increased their target price on Yum! Brands from $156.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Robert W. Baird lifted their price target on Yum! Brands from $160.00 to $176.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Fifteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Yum! Brands presently has a consensus rating of “Hold” and an average target price of $151.79.

Yum! Brands Company Profile

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