NEW YORK (TheStreet) -- In a well-timed display of confidence, Yum! Brands (YUM) director Robert Walter has purchased 20,000 shares of the company at $66.09 a share according to a Thursday SEC filing.
Yum! Brands' share price took a dive earlier in the week after reporting lower-than-expected third-quarter earnings for the period ended Sept. 7. Of particular concern were same-stores sales in China dropping 11%. Management says it is unlikely sales in China will improve in the fourth quarter.
Yum! Brands shares are up 1.3% to $66.79 as of 11:50 a.m. New York time. Shares have tumbled 6.9% since reporting after the bell Tuesday.
TheStreet Ratings team rates Yum! Brands Inc as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate Yum! Brands Inc (YUM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
- You can view the full analysis from the report here: YUM Ratings Report
Written by Keris Alison Lahiff.