Yum! Brands
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). 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 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
154% more first-time investments, than exits
New positions opened: 175 | Existing positions closed: 69
20% more funds holding in top 10
Funds holding in top 10: 5 [Q4 2024] → 6 (+1) [Q1 2025]
12% more capital invested
Capital invested by funds: $32.1B [Q4 2024] → $36B (+$3.86B) [Q1 2025]
6% more funds holding
Funds holding: 1,241 [Q4 2024] → 1,317 (+76) [Q1 2025]
3% more call options, than puts
Call options by funds: $360M | Put options by funds: $350M
2.71% less ownership
Funds ownership: 84.71% [Q4 2024] → 82.0% (-2.71%) [Q1 2025]
11% less repeat investments, than reductions
Existing positions increased: 408 | Existing positions reduced: 456
Research analyst outlook
9 Wall Street Analysts provided 1 year price targets over the past 3 months
9 analyst ratings
JP Morgan John Ivankoe | 8%upside $162 | Overweight Upgraded | 25 Jun 2025 |
Redburn Atlantic Chris Luyckx | 18%upside $177 | Buy Upgraded | 10 Jun 2025 |
Goldman Sachs Christine Cho | 11%upside $167 | Buy Upgraded | 4 Jun 2025 |
Barclays Jeffrey Bernstein | 11%upside $167 | Overweight Maintained | 1 May 2025 |
Morgan Stanley John Glass | 1%upside $151 | Equal-Weight Maintained | 1 May 2025 |
Financial journalist opinion
Based on 10 articles about YUM published over the past 30 days









