Yum! Brands $YUM Stock Up On Downtrend Channel Breakout, Dark Pool Trading

  • Post category:Dark Pool Stocks
  • Reading time:4 mins read
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Yum Brands $YUM stock is testing a downtrend channel breakout as of November 4, 2022. Dark pool trading occurred in $YUM stock that looks like institutional investor buying.

Yum Brands stock chart on November 6, 2022, with dark pool trades shown with orange bars with a table to the right with the text TIME SYMBOL MESSAGE PRICE 11/02/22 YUM 154,646 DARK BLOCK $18.0M 8.87% AvgVol $120.00 11/01/22 YUM 484,836 DARK AVGPRC $57.0M 28.2% AvgVol $118.15

Make sure to review this lesson on dark pool trading so that you understand the chart above.

We think the dark pool trades were buy orders because of how $YUM stock rose following the prints hitting the tape.

Yum! Brands Reports Third-Quarter Results

On November 2, 2022, Yum! Brands reported results for the third quarter ended September 30, 2022. Worldwide system sales excluding foreign currency translation grew 7%, with 5% same-store sales growth and 4% unit growth. Yum! Brands reported Q3 adjusted EPS of $1.09 versus the consensus estimate of $1.14. Worldwide system sales grew 7%, excluding foreign currency translation, with KFC at 8%, Taco Bell at 9% and Pizza Hut at 4%.

David Gibbs, CEO, said “I’m pleased to report another strong quarter for Yum!, with system sales growth of 10% excluding Russia, driven by strong demand for our iconic brands, increased digital adoption and continued momentum on unit development. Our three global brands delivered widespread system sales growth, once again demonstrating that our globally diversified business, led by our world-class teams and franchisees, can thrive in any environment.”

Yum! enters agreement to transfer ownership of Russian KFC restaurant

Yum Brands announced that it will continue its process to leave the Russian market. Yum has entered into a sale and purchase agreement to transfer ownership of its Russian KFC restaurants, operating system and master franchise rights, including the network of KFC franchised restaurants, to Smart Service, operated by one of the company’s existing KFC franchisees in Russia, Konstantin Yurievich Kotov and Andrey Eduardovich Oskolkov. Under the agreement, the buyer will be responsible for rebranding locations to a non-Yum concept. In addition, the buyer will be responsible for retaining the company’s employees in Russia. Completion of the transaction is subject to regulatory and governmental approvals, as well as other conditions agreed to by the parties. Following the completion of the transaction, Yum will have ceased its corporate presence in Russia.

Yum Brands price target lowered at Cowen

On October 19, 2022, Cowen analyst Andrew Charles kept an Outperform rating on Yum stock but lowered the firm’s price target to $130 from $143. The analyst is still bullish on the shares because he thinks that Taco Bells 3Q sales will be stronger than expected. His model shows that sales in 3Q will be strong enough to last into 4Q. He also forecasts restaurant growth to persist.

Taco Bell parent Yum Brands reports mixed earnings

Taco Bell parent Yum Brands reports mixed earnings

Yum Brands Stock Technical Analysis

Yum Brands $YUM stock is in a technical weak uptrend rating. The stock is testing triple top resistance.

Yum Brands stock chart on November 6, 2022, testing key triple top resistance, with a positive MACD and a positive money flow.
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