YUM BRANDS

(YUM)
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Delayed Nyse  -  04:04 2022-08-16 pm EDT
119.04 USD   +0.68%
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Yum! Brands close to Russian exit with KFC sale almost complete

07/05/2022 | 03:35pm EDT

Yum! Brands is the latest company to sever ties with Russia, announcing Tuesday the sale of its Russian KFC business is almost complete.

Yum! sold its 50 Russian Pizza Hut franchises in May to a local operator who is rebranding the restaurants while the company is in the final stages of selling its 1,000 Russian KFC locations also to a local operator.

"Following completion of the KFC transaction, Yum! Brands intends to fully exit from Russia," the company said in a statement Tuesday.

In March, Yum! suspended operations at all of its Russian restaurants and redirected profits from Russian operations to humanitarian efforts, including a disaster relief fund to support Ukrainian franchise employees and other charities providing relief in Ukraine.

Yum! is one of hundreds of western companies that have closed stores or have stopped selling products in Russia since its February invasion of Ukraine going well beyond existing sanctions ordered by governments.

In March, Apple, Samsung and Microsoft all stopped selling their products in Russia as McDonald's, Starbucks and Coco-Cola announcing they would close stores and stop sales due to the ongoing war.

McDonald's went one step further in May with the announcement it had a buyer for its hundreds of fast-food locations in Russia saying it was getting out completely.

IKEA, Nike and H&M said they would temporarily close their Russian stores while Disney, Sony and Warner Bros. have delivered on their promise since the invasion to not release any films in Russia.

Financial groups have also cut ties at a cost. American Express suspended operations in Russia and Belarus, while JPMorgan Chase said the bank could lose $1 billion "over time" as it wound down business in the Russian market.

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Financials (USD)
Sales 2022 6 755 M - -
Net income 2022 1 331 M - -
Net Debt 2022 11 455 M - -
P/E ratio 2022 25,7x
Yield 2022 1,96%
Capitalization 33 644 M 33 644 M -
EV / Sales 2022 6,68x
EV / Sales 2023 6,33x
Nbr of Employees 36 000
Free-Float 99,9%
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Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 118,24 $
Average target price 134,19 $
Spread / Average Target 13,5%
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Managers and Directors
David W. Gibbs Chief Executive Officer & Director
Chris Turner Chief Financial Officer
Brian C. Cornell Non-Executive Chairman
Clay Johnson Chief Technology & Digital Officer
Brian Cahoe Chief Development Officer
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