Grandview Asset Management LLC Acquires New Holdings in Yum! Brands, Inc. (YUM)
Grandview Asset Management LLC acquired a new position in Yum! Brands, Inc. (NYSE:YUM) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,773 shares of the restaurant operator’s stock, valued at approximately $1,082,000. Yum! Brands makes up approximately 1.1% of Grandview Asset Management LLC’s holdings, making the stock its 29th biggest holding.
A number of other hedge funds have also modified their holdings of YUM. Loomis Sayles & Co. L P lifted its position in Yum! Brands by 2.5% in the third quarter. Loomis Sayles & Co. L P now owns 7,386,140 shares of the restaurant operator’s stock worth $671,474,000 after purchasing an additional 178,182 shares during the period. Bank of New York Mellon Corp lifted its position in Yum! Brands by 5.1% in the third quarter. Bank of New York Mellon Corp now owns 5,459,185 shares of the restaurant operator’s stock worth $496,295,000 after purchasing an additional 264,177 shares during the period. Sustainable Growth Advisers LP lifted its position in Yum! Brands by 7.8% in the third quarter. Sustainable Growth Advisers LP now owns 4,693,776 shares of the restaurant operator’s stock worth $426,711,000 after purchasing an additional 341,611 shares during the period. Legal & General Group Plc lifted its position in Yum! Brands by 4.8% in the third quarter. Legal & General Group Plc now owns 1,756,233 shares of the restaurant operator’s stock worth $159,642,000 after purchasing an additional 80,542 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Yum! Brands by 3,028.1% in the third quarter. Victory Capital Management Inc. now owns 1,748,932 shares of the restaurant operator’s stock worth $158,996,000 after purchasing an additional 1,693,021 shares during the period. 72.64% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on YUM. Zacks Investment Research upgraded Yum! Brands from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research report on Monday. BMO Capital Markets increased their price objective on Yum! Brands to $100.00 and gave the company a “market perform” rating in a research report on Friday. Goldman Sachs Group downgraded Yum! Brands from a “neutral” rating to a “sell” rating and cut their price objective for the company from $83.00 to $76.00 in a research report on Friday, January 11th. Finally, Cowen reiterated a “buy” rating and set a $100.00 price objective on shares of Yum! Brands in a research report on Sunday, December 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $92.64.
Shares of NYSE:YUM opened at $94.49 on Monday. Yum! Brands, Inc. has a one year low of $76.32 and a one year high of $95.45. The firm has a market cap of $29.51 billion, a PE ratio of 29.81, a P/E/G ratio of 1.96 and a beta of 0.60.
Yum! Brands (NYSE:YUM) last released its earnings results on Thursday, February 7th. The restaurant operator reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.57). The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Yum! Brands had a net margin of 27.11% and a negative return on equity of 14.19%. Yum! Brands’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 EPS. Sell-side analysts forecast that Yum! Brands, Inc. will post 3.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Thursday, February 14th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, February 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.78%. This is a positive change from Yum! Brands’s previous quarterly dividend of $0.36. Yum! Brands’s dividend payout ratio is presently 45.43%.
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About Yum! Brands
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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