Synovus Financial Corp boosted its stake in shares of Yum! Brands, Inc. (NYSE:YUM - Free Report) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,292 shares of the restaurant operator's stock after purchasing an additional 3,721 shares during the quarter. Synovus Financial Corp's holdings in Yum! Brands were worth $5,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC purchased a new stake in shares of Yum! Brands during the 3rd quarter valued at $29,000. DiNuzzo Private Wealth Inc. raised its stake in Yum! Brands by 957.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 222 shares of the restaurant operator's stock valued at $31,000 after buying an additional 201 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Yum! Brands by 43.6% in the second quarter. Meeder Asset Management Inc. now owns 270 shares of the restaurant operator's stock worth $36,000 after acquiring an additional 82 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Yum! Brands during the second quarter worth about $37,000. Finally, Iron Horse Wealth Management LLC increased its holdings in shares of Yum! Brands by 3,088.9% during the second quarter. Iron Horse Wealth Management LLC now owns 287 shares of the restaurant operator's stock valued at $38,000 after acquiring an additional 278 shares in the last quarter. 82.37% of the stock is currently owned by institutional investors.
Insider Activity
In related news, CEO David W. Gibbs sold 7,005 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $134.43, for a total value of $941,682.15. Following the transaction, the chief executive officer now directly owns 152,634 shares of the company's stock, valued at approximately $20,518,588.62. This trade represents a 4.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 21,069 shares of company stock worth $2,842,965 in the last quarter. Corporate insiders own 0.31% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on YUM shares. Loop Capital lowered their target price on shares of Yum! Brands from $143.00 to $140.00 and set a "hold" rating for the company in a research note on Wednesday, November 6th. TD Cowen reiterated a "hold" rating and set a $145.00 price objective on shares of Yum! Brands in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on Yum! Brands from $137.00 to $144.00 and gave the company a "neutral" rating in a research report on Monday, September 16th. Redburn Atlantic lowered Yum! Brands from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Yum! Brands from $147.00 to $145.00 and set a "hold" rating on the stock in a research note on Wednesday, November 6th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $145.94.
Get Our Latest Report on Yum! Brands
Yum! Brands Trading Down 1.2 %
YUM traded down $1.64 on Friday, reaching $137.00. The stock had a trading volume of 1,044,313 shares, compared to its average volume of 1,415,504. The business's 50-day moving average price is $135.44 and its two-hundred day moving average price is $134.50. The company has a market cap of $38.23 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. Yum! Brands, Inc. has a 12-month low of $124.76 and a 12-month high of $143.20.
Yum! Brands (NYSE:YUM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The restaurant operator reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.04). The business had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.90 billion. Yum! Brands had a net margin of 21.13% and a negative return on equity of 18.93%. Yum! Brands's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 EPS. As a group, analysts predict that Yum! Brands, Inc. will post 5.47 earnings per share for the current year.
Yum! Brands Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.96%. Yum! Brands's dividend payout ratio (DPR) is 50.09%.
Yum! Brands Profile
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Free Report)
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.
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