Yum Carries Recent Momentum Into 2019, Reinforces Compelling Long-Term Growth Story
Wide-moat Yum Brands' 2019 started off where 2018 ended, with momentum across the KFC and Taco Bell brands and Pizza Hut showing signs of progress. We continue to view Yum as one of the best examples of how a multibrand quick-service restaurant company should operate amid rapidly evolving industry conditions. While the market also recognizes this--the stock trades above our $95 fair value estimate, which we plan to ratchet up by a few dollars to account for the more optimistic top-line results--...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.
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.
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