Yum Brands Inc. (NYSE: YUM) had its price target raised by equities researchers at Citigroup Inc. from $88.00 to $96.00. The company currently has a rating of Neutral on the stock. A number of other analysts have commented on the stock in recent days, and the company has earned a consensus one-year price target of $92.81, higher than the opening price of $88.43, a difference of 10.67 percent. Yum Brands Inc. stock has a 52-week high of $91.99.
U.S. equities saw their biggest selloff since June 24, (Brexit) on Friday after comments from a voting member of the Federal Reserve’s policy-setting committee suggested a September rate hike was still a possibility.
The Dow Jones Industrial Average dropped 394 points, or 2.13% to 18085.
The S&P 500 shed 53 points, or 2.45% to 2127, while the Nasdaq Composite erased 133 points, or 2.54% to 5125.
Stocks were no alone in declines on Friday.
Global oil prices, after rallying Thursday, dropped more than 3% Friday to trade just above $45 a barrel.
Gold prices also traded lower, shedding more than 0.6% to trade around $1,332.
Stock prices often move to the upside on recommendations and new price targets of professional analysts.
Shares of Yum Brands Inc. (NYSE: YUM) opened at $88.43 yesterday and traded in a range between, $86.97 and $88.43, and last traded at $86.97, which represents a change of $ -1.92 over the previous closing price.
Yum Brands Inc. (NYSE: YUM) currently has a market cap of 33.91B
The stocks average daily volume is 2,967,800 shares out of a total float 367,460,000 of and some 3,725,977 shares crossed the trading desk yesterday, 5 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re researching.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind Yum Brands Inc. (NYSE: YUM) now has a 50-day MA is $89.71 and 200-day MA is $83.40, and it has traded in a 52-week range between $64.58 – 91.99 and today’s last price is -0.05 percent off the 52 week high of $91.99.
Indeed, earnings growth is among the most important things to look in regards to stock investing and, accordingly, investors seek companies who have been successful at growing their earnings by at least 25 percent over a 3 year period.
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