Yum! Brands (YUM) Price Target Raised to $105.00

Yum! Brands (NYSE:YUM) had its price target raised by Robert W. Baird from $94.00 to $105.00 in a report issued on Thursday morning, The Fly reports. The firm currently has an outperform rating on the restaurant operator’s stock.

YUM has been the subject of a number of other reports. ValuEngine upgraded Yum! Brands from a hold rating to a buy rating in a report on Friday, September 7th. Gordon Haskett assumed 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. Stifel Nicolaus downgraded 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. Zacks Investment Research upgraded Yum! Brands from a hold rating to a buy rating and set a $101.00 price objective for the company in a report on Wednesday, October 17th. Finally, BTIG Research increased their price objective on Yum! Brands from $92.00 to $102.00 and gave the stock a buy rating in a report on Wednesday, October 10th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Yum! Brands has a consensus rating of Hold and an average price target of $91.00.

Shares of Yum! Brands stock opened at $86.90 on Thursday. Yum! Brands has a 1 year low of $75.88 and a 1 year high of $92.21. The stock has a market capitalization of $27.58 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.87 and a beta of 0.85.

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

Yum! Brands declared that its Board of Directors has approved a stock repurchase plan on Friday, August 10th that authorizes the company to buyback $2.00 billion in 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 usually a sign that the company’s board believes its stock is undervalued.

In related news, CFO David W. Gibbs sold 6,369 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $87.83, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David W. Gibbs sold 6,366 shares of the stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $87.87, for a total value of $559,380.42. Following 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. Insiders have sold 20,075 shares of company stock valued at $1,779,370 over the last three months. Insiders own 0.63% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stock Yards Bank & Trust Co. boosted its position 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 valued at $1,826,000 after purchasing an additional 603 shares during the last quarter. WINTON GROUP Ltd lifted its position in shares of Yum! Brands by 88.1% in the second quarter. WINTON GROUP Ltd now owns 196,475 shares of the restaurant operator’s stock valued at $15,368,000 after buying an additional 92,002 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Yum! Brands by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,227,054 shares of the restaurant operator’s stock valued at $95,981,000 after buying an additional 13,855 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Yum! Brands in the second quarter valued at approximately $477,000. Finally, NorthCoast Asset Management LLC lifted its position in shares of Yum! Brands by 189.2% in the second quarter. NorthCoast Asset Management LLC now owns 22,873 shares of the restaurant operator’s stock valued at $1,789,000 after buying an additional 14,963 shares during the last quarter. 71.08% of the stock is owned by hedge funds and other institutional investors.

About Yum! Brands

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.

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