Magellan Asset Management Ltd Buys 120,434 Shares of Yum! Brands, Inc. (NYSE:YUM)

Magellan Asset Management Ltd grew its position in Yum! Brands, Inc. (NYSE:YUM - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,064,738 shares of the restaurant operator's stock after purchasing an additional 120,434 shares during the period. Yum! Brands makes up approximately 3.0% of Magellan Asset Management Ltd's investment portfolio, making the stock its 13th largest holding. Magellan Asset Management Ltd owned 0.74% of Yum! Brands worth $277,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. WealthTrak Capital Management LLC bought a new position in Yum! Brands in the fourth quarter valued at $25,000. Kohmann Bosshard Financial Services LLC acquired a new position in Yum! Brands during the fourth quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in Yum! Brands in the third quarter valued at approximately $29,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Yum! Brands during the 4th quarter worth approximately $33,000. Finally, Jackson Grant Investment Advisers Inc. raised its stake in shares of Yum! Brands by 52.1% during the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 295 shares of the restaurant operator's stock worth $40,000 after purchasing an additional 101 shares in the last quarter. 82.37% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Yum! Brands news, CEO David W. Gibbs sold 5,293 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $154.24, for a total value of $816,392.32. Following the sale, the chief executive officer now owns 157,893 shares of the company's stock, valued at approximately $24,353,416.32. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Erika Burkhardt sold 597 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $159.07, for a total value of $94,964.79. Following the transaction, the insider now directly owns 64 shares of the company's stock, valued at $10,180.48. This trade represents a 90.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,132 shares of company stock worth $7,952,685 over the last ninety days. Corporate insiders own 0.31% of the company's stock.

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Yum! Brands Price Performance

Yum! Brands stock traded down $13.93 during mid-day trading on Friday, reaching $147.52. 4,704,337 shares of the company were exchanged, compared to its average volume of 1,969,178. The firm has a market cap of $41.17 billion, a PE ratio of 28.26, a PEG ratio of 2.31 and a beta of 0.90. The company has a fifty day simple moving average of $150.15 and a 200-day simple moving average of $139.46. Yum! Brands, Inc. has a 12 month low of $122.13 and a 12 month high of $163.30.

Yum! Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.71 per share. This is a boost from Yum! Brands's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.84 annualized dividend and a yield of 1.93%. Yum! Brands's dividend payout ratio is currently 54.41%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on YUM. Oppenheimer boosted their target price on shares of Yum! Brands from $154.00 to $160.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of Yum! Brands from $140.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday. Cowen reiterated a "hold" rating on shares of Yum! Brands in a research note on Wednesday, March 5th. Argus upgraded Yum! Brands from a "hold" rating to a "buy" rating and set a $155.00 price target for the company in a report on Tuesday, December 31st. Finally, Morgan Stanley upped their price objective on Yum! Brands from $146.00 to $150.00 and gave the company an "equal weight" rating in a research note on Thursday, March 13th. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $151.70.

Yum! Brands Company Profile

Yum! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. The company operates through the KFC Division, the Taco Bell Division, the Pizza Hut Division, and the Habit Burger Grill Division segments. It also operates restaurants under the KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill brands, which specialize in chicken, pizza, made-to-order chargrilled burgers, sandwiches, Mexican-style food categories, and other food products.