With 86% Institutional Ownership, Yum! Brands, Inc. (NYSE:YUM) Is a Favorite Amongst the Big Guns
With 86% Institutional Ownership, Yum! Brands, Inc. (NYSE:YUM) Is a Favorite Amongst the Big Guns
Key Insights
關鍵洞察
- Institutions' substantial holdings in Yum! Brands implies that they have significant influence over the company's share price
- The top 7 shareholders own 50% of the company
- Using data from analyst forecasts alongside ownership research, one can better assess the future performance of a company
- 機構在百勝餐飲的重大持股意味着他們對公司股價有顯著影響。
- 前7大股東擁有公司的50%股份。
- 通過分析師預測數據和所有權研究,可以更好地評估公司的未來表現。
If you want to know who really controls Yum! Brands, Inc. (NYSE:YUM), then you'll have to look at the makeup of its share registry. The group holding the most number of shares in the company, around 86% to be precise, is institutions. In other words, the group stands to gain the most (or lose the most) from their investment into the company.
如果你想知道誰真正控制百勝餐飲公司(紐交所:YUM),那麼你必須查看其股東名冊的構成。 持有公司最多股份的群體,準確地說大約佔86%,是機構。 換句話說,該群體在投資公司時,獲利最多(或損失最多)。
Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute.
由於機構擁有龐大的資金和研究能力,因此機構持股往往具有重要影響力,尤其是在個人投資者中。因此,投入一家公司大量資金的機構通常被視爲積極屬性。
Let's take a closer look to see what the different types of shareholders can tell us about Yum! Brands.
讓我們更仔細地看一下不同類型的股東可以告訴我們關於Yum! Brands的信息。
What Does The Institutional Ownership Tell Us About Yum! Brands?
機構持有比例對Yum! Brands的意義是什麼?
Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.
機構投資者通常將自己的回報與一個常見的指數回報進行比較。因此,他們通常會考慮購買納入相關基準指數的大型公司股票。
We can see that Yum! Brands does have institutional investors; and they hold a good portion of the company's stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Yum! Brands' historic earnings and revenue below, but keep in mind there's always more to the story.
我們可以看到Yum! Brands確實有機構投資者,他們持有公司股票的一部分。這表明這些機構的分析師已經分析了這隻股票,並且他們對此表示喜歡。但是,和其他任何人一樣,他們也可能是錯誤的。當多家機構持有一隻股票時,總是存在他們在"擁擠交易"中的風險。當這種交易出現問題時,多個參與者可能會爭相快速出售股票。在沒有增長曆史的公司中,這種風險更高。您可以在下面看到Yum! Brands的歷史盈利和營業收入,但請記住,總是有更多的故事需要了解。
Since institutional investors own more than half the issued stock, the board will likely have to pay attention to their preferences. Hedge funds don't have many shares in Yum! Brands. The Vanguard Group, Inc. is currently the largest shareholder, with 12% of shares outstanding. For context, the second largest shareholder holds about 10% of the shares outstanding, followed by an ownership of 8.8% by the third-largest shareholder.
由於機構投資者持有超過一半的已發行股票,董事會可能需要關注他們的偏好。對Yum! Brands來說,對沖基金的持股不多。先鋒集團目前是最大的股東,持有12%的流通股份。作爲參考,第二大股東持有約10%的流通股份,第三大股東的持有量爲8.8%。
We also observed that the top 7 shareholders account for more than half of the share register, with a few smaller shareholders to balance the interests of the larger ones to a certain extent.
我們還觀察到,前7大股東佔據了超過一半的股份登記,部分小股東在一定程度上平衡了大股東的利益。
While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.
雖然研究一家公司機構的所有權數據是有意義的,但研究分析師的看法也同樣重要,以了解市場的動態。很多分析師關注這隻股票,因此查看他們的預測也可能是值得的。
Insider Ownership Of Yum! Brands
Yum! Brands 的內部持股
While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.
雖然內部人的精確定義可能是主觀的,但幾乎所有人都認爲董事會成員都是內部人。管理層最終要向董事會負責。然而,管理者成爲執行董事會成員並不罕見,尤其是在他們是創始人或首席執行官的情況下。
Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.
當內部持股顯示領導層像真正的公司所有者一樣思考時,這是積極的。然而,高比例的內部持股也可能給予公司內部小團體巨大的權力。在某些情況下,這可能是負面的。
Our most recent data indicates that insiders own less than 1% of Yum! Brands, Inc.. As it is a large company, we'd only expect insiders to own a small percentage of it. But it's worth noting that they own US$53m worth of shares. In this sort of situation, it can be more interesting to see if those insiders have been buying or selling.
我們最近的數據表明,內部人士擁有的Yum! Brands, Inc.的股份不到1%。由於這是一家大型公司,我們僅預計內部人士會擁有其中小部分股份。但值得注意的是,他們擁有價值5300萬美元的股份。在這種情況下,觀察這些內部人士是買入還是賣出可能更有趣。
General Public Ownership
公衆持股
The general public-- including retail investors -- own 13% stake in the company, and hence can't easily be ignored. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.
公衆,包括散戶投資者,持有公司13%的股份,因此不容易被忽視。儘管這個 ownership 的規模相當可觀,但如果決策與其他大股東不同,這可能不足以改變公司政策。
Next Steps:
下一步:
I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. For example, we've discovered 3 warning signs for Yum! Brands (2 make us uncomfortable!) that you should be aware of before investing here.
我覺得了解一家公司的真實所有者非常有趣。但要真正獲得洞察,我們還需要考慮其他信息。例如,我們發現了3個關於Yum! Brands的警告信號(其中2個讓我們感到不安!),在這裏投資之前你應該注意這些。
Ultimately the future is most important. You can access this free report on analyst forecasts for the company.
最終,未來是最重要的。您可以訪問此免費的關於公司分析師預測的報告。
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
注意:本文中的數字是根據過去十二個月的數據計算得出的,指的是截至財務報表日期的月份最後一天的12個月期間。這可能與完整年度的年報數字不一致。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall ST在提到的任何股票中均沒有持倉。
譯文內容由第三人軟體翻譯。