Report
R.J. Hottovy
EUR 100.00 For Business Accounts Only

Wide-Moat Yum Brands Offers Investors Dual Global Growth and Capital-Allocation Stories

Wide-moat Yum Brands' third-quarter results reaffirmed its position as one of the more reliable global QSR operators. There is still room for improvement, as inconsistent value messaging and underperforming dine-in restaurants are weighing down Pizza Hut U.S.(comps up 1%). Also, certain Pizza Hut International markets (comps down 3%) such as China are in the early stages of transformation efforts and will require a greater focus on value, a streamlined menu, and new restaurant formats. However, ...
Underlying
Yum! Brands Inc.

Yum! Brands franchises or operates a system of quick service restaurants through its KFC, Pizza Hut and Taco Bell brands. The company's operating segments consist of the KFC Division, the Pizza Hut Division and the Taco Bell Division. KFC restaurants provides fried and non-fried chicken products such as sandwiches, chicken strips, chicken-on-the-bone and other chicken products marketed under a variety of names. Pizza Hut is engaged in the sale of ready-to-eat pizza products. Pizza Hut operates in the delivery, carryout and casual dining segments. Taco Bell is engaged in Mexican-style food products, including various types of tacos, burritos, quesadillas, salads, nachos and other related items.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
R.J. Hottovy

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