Balyasny Asset Management LLC Sells 78,194 Shares of Yum! Brands, Inc. (YUM)
Balyasny Asset Management LLC cut its holdings in shares of Yum! Brands, Inc. (NYSE:YUM) by 27.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 201,664 shares of the restaurant operator’s stock after selling 78,194 shares during the period. Balyasny Asset Management LLC owned 0.06% of Yum! Brands worth $14,875,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in YUM. BlackRock Inc. raised its stake in Yum! Brands by 2,392.9% in the first quarter. BlackRock Inc. now owns 20,053,997 shares of the restaurant operator’s stock worth $1,281,452,000 after buying an additional 19,249,564 shares in the last quarter. Morgan Stanley lifted its holdings in Yum! Brands by 82.4% during the first quarter. Morgan Stanley now owns 4,757,237 shares of the restaurant operator’s stock worth $303,987,000 after buying an additional 2,148,751 shares during the period. Renaissance Technologies LLC lifted its holdings in Yum! Brands by 208.6% during the first quarter. Renaissance Technologies LLC now owns 2,625,400 shares of the restaurant operator’s stock worth $167,763,000 after buying an additional 1,774,600 shares during the period. Pioneer Investment Management Inc. purchased a new stake in Yum! Brands during the second quarter worth $104,149,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Yum! Brands during the second quarter worth $102,713,000. Hedge funds and other institutional investors own 72.06% of the company’s stock.
Yum! Brands, Inc. (YUM) opened at 73.92 on Wednesday. The firm has a market capitalization of $25.49 billion, a P/E ratio of 19.62 and a beta of 0.81. The company’s 50-day moving average is $75.77 and its 200-day moving average is $71.80. Yum! Brands, Inc. has a 52-week low of $59.57 and a 52-week high of $78.14.
Yum! Brands (NYSE:YUM) last issued its quarterly earnings data on Thursday, August 3rd. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.07. Yum! Brands had a net margin of 16.76% and a negative return on equity of 24.95%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm posted $0.75 EPS. Yum! Brands’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts predict that Yum! Brands, Inc. will post $2.81 EPS for the current year.
In other news, CFO David W. Gibbs sold 8,336 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $74.00, for a total transaction of $616,864.00. Following the completion of the sale, the chief financial officer now owns 39,664 shares in the company, valued at $2,935,136. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.65% of the company’s stock.
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Several research analysts have recently commented on YUM shares. Sanford C. Bernstein reissued an “outperform” rating on shares of Yum! Brands in a research report on Monday, July 3rd. Royal Bank Of Canada restated a “buy” rating and set a $75.00 price objective on shares of Yum! Brands in a research note on Thursday, June 15th. Robert W. Baird reaffirmed a “hold” rating and set a $78.00 price objective on shares of Yum! Brands in a research report on Friday, September 8th. Oppenheimer Holdings, Inc. raised their price objective on Yum! Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, September 8th. Finally, BidaskClub upgraded Yum! Brands from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 2nd. Thirteen investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Yum! Brands presently has a consensus rating of “Buy” and an average price target of $79.89.
Yum! Brands Profile
YUM! Brands, Inc is engaged in restaurant business. As of December 31, 2016, the Company operated or franchised over 43,500 restaurants in more than 135 countries and territories operating under the KFC, Pizza Hut or Taco Bell (collectively the Concepts) brands. The Company operates through three segments: The KFC Division, which includes the operations of the KFC concept around the world; The Pizza Hut Division, which includes the operations of the Pizza Hut concept around the world, and The Taco Bell Division, which includes the operations of the Taco Bell concept around the world.
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