Kingdon Capital Management L.L.C. Acquires New Holdings in Yum! Brands, Inc. (YUM)
Kingdon Capital Management L.L.C. acquired a new position in Yum! Brands, Inc. (NYSE:YUM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 106,830 shares of the restaurant operator’s stock, valued at approximately $7,880,000.
A number of other institutional investors and hedge funds have also made changes to their positions in YUM. Acrospire Investment Management LLC purchased a new stake in Yum! Brands in the second quarter worth about $104,000. Kistler Tiffany Companies LLC grew its holdings in shares of Yum! Brands by 0.5% during the second quarter. Kistler Tiffany Companies LLC now owns 1,537 shares of the restaurant operator’s stock valued at $113,000 after buying an additional 7 shares during the last quarter. Founders Capital Management grew its holdings in shares of Yum! Brands by 164.5% during the second quarter. Founders Capital Management now owns 1,640 shares of the restaurant operator’s stock valued at $121,000 after buying an additional 1,020 shares during the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of Yum! Brands during the second quarter valued at approximately $148,000. Finally, Parallel Advisors LLC grew its holdings in shares of Yum! Brands by 38.2% during the first quarter. Parallel Advisors LLC now owns 2,202 shares of the restaurant operator’s stock valued at $150,000 after buying an additional 609 shares during the last quarter. Institutional investors and hedge funds own 72.06% of the company’s stock.
Yum! Brands, Inc. (NYSE YUM) traded up 1.817% on Friday, reaching $75.935. 1,164,442 shares of the company’s stock traded hands. The stock has a market cap of $26.18 billion, a price-to-earnings ratio of 20.158 and a beta of 0.81. Yum! Brands, Inc. has a 12-month low of $59.57 and a 12-month high of $78.14. The stock has a 50 day moving average price of $75.65 and a 200 day moving average price of $71.84.
Yum! Brands (NYSE:YUM) last released its quarterly earnings data on Thursday, August 3rd. The restaurant operator reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.42 billion. Yum! Brands had a net margin of 16.76% and a negative return on equity of 24.95%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. Analysts forecast that Yum! Brands, Inc. will post $2.81 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This story was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/10/06/kingdon-capital-management-l-l-c-acquires-new-holdings-in-yum-brands-inc-yum.html.
In other news, CFO David W. Gibbs sold 8,336 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $74.00, for a total value of $616,864.00. Following the sale, the chief financial officer now directly owns 39,664 shares of the company’s stock, valued at approximately $2,935,136. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.38% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $83.00 price target on shares of Yum! Brands in a report on Monday, September 11th. BidaskClub upgraded shares of Yum! Brands from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Argus reiterated a “buy” rating and set a $88.00 price target (up previously from $80.00) on shares of Yum! Brands in a report on Wednesday, August 23rd. Oppenheimer Holdings, Inc. increased their price target on shares of Yum! Brands from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Finally, Robert W. Baird reiterated a “hold” rating and set a $78.00 price target on shares of Yum! Brands in a report on Friday, September 8th. Twelve equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.46.
About Yum! Brands
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.
Want to see what other hedge funds are holding YUM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Yum! Brands, Inc. (NYSE:YUM).
Receive News & Stock Ratings for Yum! Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yum! Brands Inc. and related stocks with our FREE daily email newsletter.