Peapack Gladstone Financial Corp Purchases New Position in Yum! Brands, Inc. (NYSE:YUM)

Peapack Gladstone Financial Corp purchased a new stake in shares of Yum! Brands, Inc. (NYSE:YUMFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,773 shares of the restaurant operator’s stock, valued at approximately $232,000.

A number of other hedge funds also recently bought and sold shares of YUM. Norges Bank purchased a new position in Yum! Brands during the 4th quarter valued at about $331,831,000. Deutsche Bank AG grew its holdings in shares of Yum! Brands by 121.8% during the 3rd quarter. Deutsche Bank AG now owns 1,819,809 shares of the restaurant operator’s stock worth $227,367,000 after acquiring an additional 999,443 shares during the period. TD Asset Management Inc grew its holdings in shares of Yum! Brands by 55.8% during the 4th quarter. TD Asset Management Inc now owns 1,592,259 shares of the restaurant operator’s stock worth $208,045,000 after acquiring an additional 570,263 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Yum! Brands by 129.5% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 769,543 shares of the restaurant operator’s stock worth $96,147,000 after acquiring an additional 434,284 shares during the period. Finally, Sustainable Growth Advisers LP grew its holdings in shares of Yum! Brands by 3.8% during the 3rd quarter. Sustainable Growth Advisers LP now owns 5,766,650 shares of the restaurant operator’s stock worth $720,485,000 after acquiring an additional 210,238 shares during the period. Hedge funds and other institutional investors own 82.37% of the company’s stock.

Yum! Brands Trading Down 0.6 %

YUM stock opened at $140.01 on Friday. The stock has a market capitalization of $39.43 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.28 and a beta of 1.08. Yum! Brands, Inc. has a 12-month low of $115.53 and a 12-month high of $143.20. The stock’s 50 day simple moving average is $138.36 and its 200 day simple moving average is $134.13.

Yum! Brands (NYSE:YUMGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.05). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.71 billion. Yum! Brands had a net margin of 22.92% and a negative return on equity of 18.64%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. On average, research analysts predict that Yum! Brands, Inc. will post 5.64 earnings per share for the current year.

Yum! Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.67 per share. The ex-dividend date was Friday, May 24th. This represents a $2.68 annualized dividend and a dividend yield of 1.91%. Yum! Brands’s payout ratio is 47.52%.

Yum! Brands announced that its board has approved a stock repurchase program on Wednesday, May 15th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on YUM. JPMorgan Chase & Co. upped their target price on Yum! Brands from $132.00 to $140.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. Argus reiterated a “hold” rating on shares of Yum! Brands in a report on Wednesday, April 10th. Royal Bank of Canada dropped their price target on Yum! Brands from $145.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, February 9th. BMO Capital Markets boosted their price target on Yum! Brands from $133.00 to $135.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Finally, TD Cowen reissued a “buy” rating and issued a $156.00 price target on shares of Yum! Brands in a research report on Tuesday, May 28th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $143.80.

Check Out Our Latest Research Report on Yum! Brands

Insider Activity

In other news, insider Scott Catlett sold 5,994 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $141.50, for a total transaction of $848,151.00. Following the transaction, the insider now directly owns 34,889 shares of the company’s stock, valued at approximately $4,936,793.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Paget Leonard Alves sold 6,309 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $136.19, for a total value of $859,222.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Catlett sold 5,994 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $141.50, for a total value of $848,151.00. Following the completion of the sale, the insider now owns 34,889 shares of the company’s stock, valued at $4,936,793.50. The disclosure for this sale can be found here. Insiders have sold 33,521 shares of company stock valued at $4,620,263 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

About Yum! Brands

(Free Report)

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.

Further Reading

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

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