Corebridge Financial Inc. Sells 2,678 Shares of Yum! Brands, Inc. (NYSE:YUM)

Corebridge Financial Inc. lessened its position in Yum! Brands, Inc. (NYSE:YUM - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,663 shares of the restaurant operator's stock after selling 2,678 shares during the quarter. Corebridge Financial Inc.'s holdings in Yum! Brands were worth $10,017,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in shares of Yum! Brands by 10.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 13,000 shares of the restaurant operator's stock valued at $1,817,000 after buying an additional 1,234 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Yum! Brands by 1.6% during the third quarter. Daiwa Securities Group Inc. now owns 39,347 shares of the restaurant operator's stock valued at $5,497,000 after acquiring an additional 625 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Yum! Brands by 4.4% during the third quarter. Bank of Montreal Can now owns 427,778 shares of the restaurant operator's stock worth $59,855,000 after acquiring an additional 18,092 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Yum! Brands in the 3rd quarter worth approximately $117,000. Finally, Townsquare Capital LLC boosted its stake in shares of Yum! Brands by 10.3% in the 3rd quarter. Townsquare Capital LLC now owns 16,779 shares of the restaurant operator's stock valued at $2,344,000 after purchasing an additional 1,568 shares in the last quarter. Hedge funds and other institutional investors own 82.37% of the company's stock.

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Insider Transactions at Yum! Brands

In other Yum! Brands news, CEO David W. Gibbs sold 5,293 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $154.24, for a total value of $816,392.32. Following the transaction, the chief executive officer now owns 157,893 shares of the company's stock, valued at approximately $24,353,416.32. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Tracy L. Skeans sold 8,638 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $158.36, for a total value of $1,367,913.68. Following the completion of the transaction, the chief operating officer now directly owns 2,970 shares in the company, valued at $470,329.20. The trade was a 74.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,132 shares of company stock worth $7,952,685 in the last ninety days. Insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on YUM shares. The Goldman Sachs Group boosted their price target on shares of Yum! Brands from $140.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Cowen restated a "hold" rating on shares of Yum! Brands in a report on Wednesday, March 5th. Morgan Stanley raised their price target on Yum! Brands from $146.00 to $150.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 13th. TD Securities reiterated a "hold" rating and issued a $164.00 price objective on shares of Yum! Brands in a research report on Monday. Finally, Barclays raised their target price on shares of Yum! Brands from $162.00 to $165.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Fifteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $151.79.

Yum! Brands Stock Performance

Shares of YUM stock traded up $1.28 during trading hours on Monday, reaching $157.04. The company had a trading volume of 3,510,584 shares, compared to its average volume of 1,959,959. The business has a fifty day moving average price of $147.77 and a 200-day moving average price of $138.85. Yum! Brands, Inc. has a one year low of $122.13 and a one year high of $163.30. The firm has a market cap of $43.83 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.31 and a beta of 1.03.

Yum! Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.81%. 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. Yum! Brands's dividend payout ratio is presently 54.41%.

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.