Yum! Brands (YUM)

• Market cap: $39.9B
• 1 day: 0.52%
• 5 days: -1.40%
• 1 month: -8.80%
• 3 months: 14.36%
• 6 months: 7.16%
• Year to date: 7.30%
• 1 year: 3.98%
• 5 years: 70.26%
• 10 years: 79.70%
• Sector: Consumer Discretionary
• Industry: Restaurants

About: Yum Brands is a US-based restaurant operator featuring a portfolio of four brands: KFC (31,981 global units at year-end 2024), Pizza Hut (20,225 units), Taco Bell (8,757 units), and Habit Burger & Grill (nearly 400 units). With more than $65 billion in 2024 systemwide sales, the firm is the second-largest restaurant company in the world behind McDonald's ($131 billion), ahead of Restaurant Brands International ($44 billion) and Starbucks ($30 billion). Yum is 98% franchised, with the largest franchisee, 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: 40,000

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

109% more call options, than puts

Call options by funds: $425M | Put options by funds: $204M

53% more first-time investments, than exits

New positions opened: 142 | Existing positions closed: 93

25% more funds holding in top 10

Funds holding in top 10: 4 [Q3] → 5 (+1) [Q4]

2% more funds holding

Funds holding: 1,213 [Q3] → 1,237 (+24) [Q4]

1.42% more ownership

Funds ownership: 83.26% [Q3] → 84.68% (+1.42%) [Q4]

1% less capital invested

Capital invested by funds: $32.6B [Q3] → $32.1B (-$459M) [Q4]

7% less repeat investments, than reductions

Existing positions increased: 389 | Existing positions reduced: 418

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $140 2% downside
• Avg. target: $157 10% upside
• High target: $174 21% upside

13 analyst ratings

• positive: 4 31%
• neutral: 9 69%
• negative: 0 0%

Citigroup Jon Tower 40% 1-year accuracy 14 / 35 met price target	5% upside $151	Neutral Maintained	15 Apr 2025
Guggenheim Gregory Francfort 46% 1-year accuracy 6 / 13 met price target	15% upside $165	Buy Maintained	8 Apr 2025
Baird David Tarantino 50% 1-year accuracy 15 / 30 met price target	21% upside $174	Outperform Maintained	7 Apr 2025
Piper Sandler Brian Mullan 20% 1-year accuracy 2 / 10 met price target	5% upside $150	Neutral Maintained	3 Apr 2025
TD Securities Andrew Charles 38% 1-year accuracy 34 / 89 met price target	14% upside $164	Hold Reiterated	31 Mar 2025