State of Michigan Retirement System grew its stake in shares of Yum! Brands, Inc. (NYSE:YUM) by 10.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 76,895 shares of the restaurant operator’s stock after buying an additional 7,541 shares during the period. State of Michigan Retirement System’s holdings in Yum! Brands were worth $6,683,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Guggenheim Capital LLC boosted its stake in shares of Yum! Brands by 62.0% in the 4th quarter. Guggenheim Capital LLC now owns 87,185 shares of the restaurant operator’s stock valued at $8,782,000 after purchasing an additional 33,377 shares during the last quarter. Sunbelt Securities Inc. raised its stake in Yum! Brands by 0.9% in the fourth quarter. Sunbelt Securities Inc. now owns 14,409 shares of the restaurant operator’s stock valued at $1,451,000 after buying an additional 131 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Yum! Brands in the fourth quarter valued at approximately $282,000. Franklin Resources Inc. raised its stake in Yum! Brands by 5.2% in the 4th quarter. Franklin Resources Inc. now owns 231,741 shares of the restaurant operator’s stock valued at $23,343,000 after acquiring an additional 11,395 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Yum! Brands by 27.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,288 shares of the restaurant operator’s stock worth $114,000 after buying an additional 278 shares during the period. 74.94% of the stock is currently owned by institutional investors.
In related news, CEO David W. Gibbs sold 2,251 shares of the company’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $87.68, for a total transaction of $197,367.68. Following the completion of the sale, the chief executive officer now owns 76,048 shares in the company, valued at $6,667,888.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Gibbs sold 2,318 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $91.28, for a total value of $211,587.04. Following the completion of the sale, the chief executive officer now directly owns 76,048 shares of the company’s stock, valued at $6,941,661.44. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.
Yum! Brands (NYSE:YUM) last announced its quarterly earnings data on Thursday, July 30th. The restaurant operator reported $0.82 EPS for the quarter, topping the consensus estimate of $0.52 by $0.30. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. Yum! Brands had a net margin of 18.78% and a negative return on equity of 12.42%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 EPS. On average, research analysts predict that Yum! Brands, Inc. will post 2.89 EPS for the current year.
A number of research analysts have commented on YUM shares. CSFB upped their price objective on Yum! Brands from $79.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on Yum! Brands from $91.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Royal Bank of Canada upped their price objective on shares of Yum! Brands from $87.00 to $94.00 and gave the stock a “sector perform” rating in a research report on Friday. BMO Capital Markets lifted their price target on Yum! Brands from $93.00 to $95.00 and gave the company a “market perform” rating in a research note on Thursday, April 30th. Finally, Zacks Investment Research upgraded Yum! Brands from a “sell” rating to a “hold” rating and set a $92.00 price objective for the company in a research report on Saturday, May 30th. Seventeen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $101.55.
Yum! Brands Profile
YUM! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. It operates in three segments: the KFC Division, the Pizza Hut Division, and the Taco Bell Division. The company operates restaurants under the KFC, Pizza Hut, and Taco Bell brands, which specialize in chicken, pizza, and Mexican-style food categories.
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