Comerica Bank Sells 18,179 Shares of Yum! Brands, Inc. (YUM)

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Comerica Bank lowered its holdings in shares of Yum! Brands, Inc. (NYSE:YUM) by 10.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 151,824 shares of the restaurant operator’s stock after selling 18,179 shares during the quarter. Comerica Bank’s holdings in Yum! Brands were worth $13,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Stock Yards Bank & Trust Co. boosted its stake in Yum! Brands by 3.1% during the third quarter. Stock Yards Bank & Trust Co. now owns 20,082 shares of the restaurant operator’s stock worth $1,826,000 after buying an additional 603 shares in the last quarter. WINTON GROUP Ltd boosted its stake in Yum! Brands by 88.1% during the second quarter. WINTON GROUP Ltd now owns 196,475 shares of the restaurant operator’s stock worth $15,368,000 after buying an additional 92,002 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Yum! Brands by 1.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,227,054 shares of the restaurant operator’s stock worth $95,981,000 after buying an additional 13,855 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Yum! Brands during the second quarter worth $477,000. Finally, NorthCoast Asset Management LLC boosted its stake in Yum! Brands by 189.2% during the second quarter. NorthCoast Asset Management LLC now owns 22,873 shares of the restaurant operator’s stock worth $1,789,000 after buying an additional 14,963 shares in the last quarter. Hedge funds and other institutional investors own 71.08% of the company’s stock.

Shares of NYSE YUM opened at $87.90 on Wednesday. The firm has a market cap of $27.58 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 1.85 and a beta of 0.85. Yum! Brands, Inc. has a 52-week low of $75.88 and a 52-week high of $92.21.

Yum! Brands (NYSE:YUM) last issued its quarterly earnings data on Wednesday, October 31st. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.21. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Yum! Brands had a negative return on equity of 17.89% and a net margin of 28.81%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. On average, equities research analysts anticipate that Yum! Brands, Inc. will post 3.68 EPS for the current year.

Yum! Brands declared that its board has initiated a share buyback plan on Friday, August 10th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the restaurant operator to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

In related news, CFO David W. Gibbs sold 6,369 shares of Yum! Brands 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 completion of the transaction, the chief financial officer now directly owns 47,701 shares of the company’s stock, valued at $4,189,578.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David W. Gibbs sold 6,366 shares of Yum! Brands stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $87.87, for a total value of $559,380.42. Following the completion of the transaction, the chief financial officer now directly owns 47,764 shares of the company’s stock, valued at $4,197,022.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,075 shares of company stock valued at $1,779,370. Company insiders own 0.63% of the company’s stock.

A number of equities research analysts have weighed in on YUM shares. KeyCorp started coverage on shares of Yum! Brands in a research note on Wednesday, October 3rd. They set a “sector weight” rating on the stock. Zacks Investment Research upgraded shares of Yum! Brands from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research note on Wednesday, October 17th. Stifel Nicolaus cut Yum! Brands from a “buy” rating to a “hold” rating and set a $94.00 price objective for the company. in a report on Tuesday, October 23rd. Gordon Haskett started coverage on Yum! Brands in a report on Thursday, October 18th. They set a “hold” rating and a $90.00 price objective for the company. Finally, Robert W. Baird lifted their price objective on Yum! Brands from $94.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, November 1st. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $91.00.

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Yum! Brands Company 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.

Further Reading: Why do earnings reports matter?

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Institutional Ownership by Quarter for Yum! Brands (NYSE:YUM)

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