Fort L.P. Has $2.73 Million Stake in Yum! Brands, Inc. (YUM)

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Fort L.P. increased its position in Yum! Brands, Inc. (NYSE:YUM) by 103.6% in the second quarter, HoldingsChannel.com reports. The fund owned 34,948 shares of the restaurant operator’s stock after acquiring an additional 17,782 shares during the quarter. Fort L.P.’s holdings in Yum! Brands were worth $2,734,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. InterOcean Capital LLC increased its stake in shares of Yum! Brands by 225.9% in the second quarter. InterOcean Capital LLC now owns 10,428 shares of the restaurant operator’s stock worth $816,000 after buying an additional 7,228 shares during the period. First Republic Investment Management Inc. increased its stake in shares of Yum! Brands by 48.9% in the second quarter. First Republic Investment Management Inc. now owns 75,846 shares of the restaurant operator’s stock worth $5,932,000 after buying an additional 24,908 shares during the period. Raymond James & Associates increased its stake in shares of Yum! Brands by 11.7% in the second quarter. Raymond James & Associates now owns 232,444 shares of the restaurant operator’s stock worth $18,182,000 after buying an additional 24,276 shares during the period. BB&T Securities LLC increased its stake in shares of Yum! Brands by 9.9% in the second quarter. BB&T Securities LLC now owns 84,059 shares of the restaurant operator’s stock worth $6,574,000 after buying an additional 7,566 shares during the period. Finally, Flinton Capital Management LLC increased its stake in shares of Yum! Brands by 93.7% in the second quarter. Flinton Capital Management LLC now owns 29,308 shares of the restaurant operator’s stock worth $2,292,000 after buying an additional 14,178 shares during the period. Institutional investors own 71.74% of the company’s stock.

Shares of Yum! Brands stock opened at $87.92 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of -1.33. The firm has a market cap of $27.52 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 1.95 and a beta of 0.86. Yum! Brands, Inc. has a 12-month low of $72.61 and a 12-month high of $88.15.

Yum! Brands (NYSE:YUM) last issued its quarterly earnings data on Thursday, August 2nd. The restaurant operator reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Yum! Brands had a net margin of 27.95% and a negative return on equity of 17.36%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. analysts forecast that Yum! Brands, Inc. will post 3.48 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Monday, August 20th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, August 17th. Yum! Brands’s payout ratio is currently 48.65%.

Yum! Brands declared that its Board of Directors has initiated a share buyback plan on Friday, August 10th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Several brokerages recently commented on YUM. ValuEngine raised shares of Yum! Brands from a “hold” rating to a “buy” rating in a research note on Friday. UBS Group set a $91.00 target price on shares of Yum! Brands and gave the stock a “buy” rating in a research note on Wednesday, May 30th. BTIG Research raised shares of Yum! Brands from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 27th. They noted that the move was a valuation call. Citigroup lifted their target price on shares of Yum! Brands from $80.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 19th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $88.00 target price on shares of Yum! Brands in a research note on Friday, August 3rd. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $86.22.

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.

Read More: What is a Leveraged Buyout (LBO)?

Want to see what other hedge funds are holding YUM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Yum! Brands, Inc. (NYSE:YUM).

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

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