Magellan Asset Management Ltd Sells 200,445 Shares of Yum! Brands, Inc. (YUM)
Magellan Asset Management Ltd reduced its position in Yum! Brands, Inc. (NYSE:YUM) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,924,877 shares of the restaurant operator’s stock after selling 200,445 shares during the quarter. Yum! Brands accounts for approximately 4.7% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 12th largest holding. Magellan Asset Management Ltd owned approximately 0.05% of Yum! Brands worth $1,447,731,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Laurion Capital Management LP bought a new stake in shares of Yum! Brands in the third quarter valued at about $218,000. Highbridge Capital Management LLC bought a new stake in shares of Yum! Brands in the third quarter valued at about $1,098,000. Cpwm LLC bought a new stake in shares of Yum! Brands in the third quarter valued at about $202,000. People s United Financial Inc. raised its holdings in shares of Yum! Brands by 4.7% in the third quarter. People s United Financial Inc. now owns 13,632 shares of the restaurant operator’s stock valued at $1,240,000 after acquiring an additional 618 shares in the last quarter. Finally, U S Global Investors Inc bought a new stake in shares of Yum! Brands in the third quarter valued at about $561,000. Hedge funds and other institutional investors own 70.89% of the company’s stock.
In other news, CEO Roger G. Eaton sold 44,823 shares of the business’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $90.54, for a total transaction of $4,058,274.42. Following the sale, the chief executive officer now owns 160,726 shares in the company, valued at $14,552,132.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David W. Gibbs sold 6,369 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $87.83, for a total value of $559,389.27. Following the sale, the chief financial officer now owns 47,701 shares in the company, valued at approximately $4,189,578.83. The disclosure for this sale can be found here. Insiders sold 71,289 shares of company stock valued at $6,401,458 over the last quarter. 0.63% of the stock is currently owned by corporate insiders.
Shares of Yum! Brands stock opened at $90.68 on Thursday. The stock has a market capitalization of $28.32 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 1.91 and a beta of 0.80. Yum! Brands, Inc. has a one year low of $75.88 and a one year high of $93.24.
Yum! Brands (NYSE:YUM) last announced its earnings results on Wednesday, October 31st. The restaurant operator reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.21. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. Yum! Brands had a net margin of 28.81% and a negative return on equity of 17.89%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. On average, equities analysts predict that Yum! Brands, Inc. will post 3.72 EPS for the current fiscal year.
Yum! Brands announced that its Board of Directors has authorized a share buyback program on Friday, August 10th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the restaurant operator to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 26th will be issued a $0.36 dividend. The ex-dividend date is Friday, November 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 1.59%. Yum! Brands’s dividend payout ratio is presently 48.65%.
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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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