Yum! BrandsYUM
Market Cap: $37.6B
About: Yum Brands is a US-based restaurant operator featuring a portfolio of four brands: KFC (29,900 global units at year-end 2023), Pizza Hut (19,866 units), Taco Bell (8,564 units), and The Habit Burger Grill (381 units). With $64 billion in 2023 systemwide sales, the firm is the second-largest restaurant company in the world behind McDonald's ($130 billion), ahead of Restaurant Brands International ($43 billion) and Starbucks ($29 billion). Yum is 98% franchised, with the largest franchisee, wide-moat Yum China, spun out in 2016, after which Yum China agreed to pay 3% royalties to Yum Brands in perpetuity. Yum is the newest evolution of Tricon, formerly a division of PepsiCo, and generates the bulk of its revenue from franchise royalties and marketing contributions.
Employees: 35,000
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
75% more call options, than puts
Call options by funds: $521M | Put options by funds: $297M
2% more repeat investments, than reductions
Existing positions increased: 400 | Existing positions reduced: 394
0.34% more ownership
Funds ownership: 85.21% [Q1] → 85.55% (+0.34%) [Q2]
4% less capital invested
Capital invested by funds: $33.2B [Q1] → $31.9B (-$1.32B) [Q2]
3% less funds holding
Funds holding: 1,210 [Q1] → 1,175 (-35) [Q2]
29% less first-time investments, than exits
New positions opened: 86 | Existing positions closed: 121
50% less funds holding in top 10
Funds holding in top 10: 6 [Q1] → 3 (-3) [Q2]
Research analyst outlook
9 Wall Street Analysts provided 1 year price targets over the past 3 months
9 analyst ratings
Deutsche Bank Lauren Silberman 67% 1-year accuracy 12 / 18 met price target | 10%upside $147 | Hold Maintained | 7 Aug 2024 |
Baird David Tarantino 58% 1-year accuracy 11 / 19 met price target | 15%upside $154 | Outperform Maintained | 7 Aug 2024 |
TD Cowen Andrew Charles 47% 1-year accuracy 54 / 116 met price target | 17%upside $156 | Buy Reiterated | 6 Aug 2024 |
Stifel Chris O'Cull 68% 1-year accuracy 23 / 34 met price target | 3%downside $130 | Hold Maintained | 22 Jul 2024 |
Morgan Stanley John Glass 26% 1-year accuracy 5 / 19 met price target | 14%upside $153 | Overweight Maintained | 16 Jul 2024 |
Financial journalist opinion
Based on 8 articles about YUM published over the past 30 days