Connor Clark & Lunn Investment Management Ltd. purchased a new position in Yum! Brands, Inc. (NYSE:YUM – Get Rating) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,057 shares of the restaurant operator’s stock, valued at approximately $347,000.
Other institutional investors have also recently bought and sold shares of the company. Capital World Investors grew its stake in Yum! Brands by 19.6% during the 1st quarter. Capital World Investors now owns 5,507,237 shares of the restaurant operator’s stock valued at $652,773,000 after acquiring an additional 901,181 shares in the last quarter. Capital International Investors grew its stake in Yum! Brands by 1.6% during the 1st quarter. Capital International Investors now owns 4,365,517 shares of the restaurant operator’s stock valued at $517,792,000 after acquiring an additional 67,468 shares in the last quarter. Victory Capital Management Inc. grew its stake in Yum! Brands by 15.9% during the 1st quarter. Victory Capital Management Inc. now owns 4,066,497 shares of the restaurant operator’s stock valued at $481,372,000 after acquiring an additional 558,053 shares in the last quarter. Invesco Ltd. grew its stake in Yum! Brands by 5.6% during the 1st quarter. Invesco Ltd. now owns 1,837,864 shares of the restaurant operator’s stock valued at $217,841,000 after acquiring an additional 97,569 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Yum! Brands by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,448,038 shares of the restaurant operator’s stock valued at $171,636,000 after acquiring an additional 25,404 shares in the last quarter. Hedge funds and other institutional investors own 70.18% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on YUM. Morgan Stanley lowered their target price on Yum! Brands from $142.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 11th. The Goldman Sachs Group raised Yum! Brands from a “sell” rating to a “buy” rating and boosted their price target for the company from $125.00 to $135.00 in a research note on Monday, July 18th. Cowen lowered their price target on Yum! Brands from $143.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, October 19th. Sanford C. Bernstein assumed coverage on Yum! Brands in a research note on Wednesday, September 7th. They issued an “outperform” rating and a $144.00 price target for the company. Finally, StockNews.com assumed coverage on Yum! Brands in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.27.
Yum! Brands Stock Down 0.6 %
Yum! Brands declared that its Board of Directors has approved a share repurchase program on Monday, September 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the restaurant operator to repurchase up to 6.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Yum! Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 29th were issued a dividend of $0.57 per share. The ex-dividend date was Friday, August 26th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.85%. Yum! Brands’s dividend payout ratio (DPR) is presently 52.05%.
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 Taco Bell Division, the Pizza Hut 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.
- Get a free copy of the StockNews.com research report on Yum! Brands (YUM)
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