YUM! BRANDS INC. $52 (New York symbol YUM Aggressive Growth Portfolio; Consumer sector; Shares outstanding: 466.9 million; Market cap: $24.3 billion; Price-to-sales ratio: 2.1; Dividend yield: 1.9%; TSINetwork Rating: Above Average; www.yum.com) operates 38,000 fast-food restaurants in over 110 countries. Its main banners include KFC (fried chicken), Pizza Hut and Taco Bell (Mexican food). It recently announced it will sell its Long John Silver’s (seafood) and its A&W (burgers) chains.
Yum will soon make a formal offer to buy the 72.8% of Little Sheep Group Ltd. that it does not already own. This company operates 480 “hot pot” restaurants, mainly in China. Hot pot restaurants have special cooking pots at the centre of each table. Customers can serve themselves from the pots.
Expanding in China is helping Yum offset slower growth in the U.S. In the first quarter of 2011, overall sales rose 3.4%, to $2.43 billion from $2.35 billion a year earlier. Excluding unusual items, earnings per share rose 6.8%, to $0.63 from $0.59.
The shares trade at 18.2 times the $2.85 a share that Yum is expected to earn in 2011.
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