We still view Yum as a core holding offering a balance between global growth and capital allocation.
Our investment thesis for the no-moat retailer remains intact after its third-quarter update, as the company navigates several merchandise assortment changes.
In a special presentation, Morningstar’s R.J. Hottovy shares his playbook for analyzing restaurant companies.
We expect a strong holiday selling period, with Amazon and Mattel among our favorites.
We'd prefer a wider margin of safety as shares of the firm appear fairly valued.
We're planning to raise our fair value estimate after comparable-store sales reversal in U.S. and China.
Revenue guidance was disappointing, but we still see the firm as a disruptive force that can grow profitably over time.
Revenue growth trends raise questions, but we still remain confident the wide-moat firm's longer-term disruption and free cash flow potential.
Third-quarter earnings reveal promising early returns from CEO Brian Niccol’s appointment with several intriguing initiatives left in the pipeline
R.J. Hottovy looks at five predictions for the industry over the next five years.
The wide-moat firm remains one of our top ideas in restaurants.
Based on the current quarter's momentum and the strong engagement reported from the new advertisement featuring Colin Kaepernick, we think management's full-year guidance is conservative.
There's more to Darden's outperformance than favorable industry trends.
We're keeping our fair value estimate for the wide-moat firm as Jack Ma steps away.
We think the Chinese retail giant is one of the most undervalued consumer-focused stocks.
The retailer continues to improve its long-term competitive position thanks to innovative partnerships and improved customer experience, but shares remain overpriced.
Both firms offer intriguing dividend opportunities, but Starbucks is likely to provide a choppier ride.
About the only concern we having coming out of the quarter is valuation.
Second-quarter results provided more evidence that higher margins are achievable.
We’re boosting our fair value estimate for Amazon as advertising, AWS, Prime and third-party sales are each contributing to an increasingly visible long-term cash flow story.
We are reducing our $44 fair value estimate and see the stock as modestly undervalued but would prefer a wider margin of safety.
Innovation and digital investments have allowed the wide-moat firm return to positive growth in the region.
The online giant gains a foothold within the pharmaceutical supply chain.
Amazon continues to linger as a disruptive threat, but the market is coming around to those retailers offering specialization, convenience, and experience.
The narrow-moat company's strong association with the expansive global soccer market should continue to aid its brand equity.
Best practices from Olive Garden are gaining traction across the system, suggesting that momentum will continue into fiscal 2019 and beyond.
The wide-moat firm's strategic actions are a first step, but more aggressive measures may be required to drive bottom-line improvement.
The wide-moat firm has one of the deepest benches in the consumer industry, and we're maintaining our fair value estimate.
Its deal with Nestle will unlock the long-term value of the firm's international consumer packaged goods potential.
We're raising our fair value estimate after the wide-moat firm saw accelerating growth in its core retail profit functions.
We're planning to raise our fair value estimate for the wide-moat firm and view shares as modestly undervalued.
New CEO Brian Niccol is off to a good start and we see shares as fairly valued today.
We're sticking with our fair value estimate, as we see increased regulatory oversight as a low-probability event over the near future.
We expect the company's healthy top-line growth to maintain and grow its dividend payout.
While we see the attraction in the retailer's shareholder-return story, the market continues to price in top-line growth and margins that seem like a stretch even for one of the most improved retailers.
New CEO Brian Niccol is well-suited to drive menu, marketing, and customer experience changes at the narrow-moat firm.
The deal should offer KFC and Taco Bell a quick way to add incremental transaction growth as well as unique data on the broader restaurant delivery landscape.
We see the narrow-moat firm as undervalued and are modestly decreasing our fair value estimate.
Several emerging cash-flow drives like advertising and third-party seller services are contributing to the bottom line sooner than we had expected.
The transition into payments could enhance the network effect behind our narrow moat rating on the firm and improve consolidated take rates.
We think the wide-moat firm is now in a place of strength.
Though details are sparse, the partnership with Berkshire Hathaway and JP Morgan Chase opens up the wide-moat online giant to a more serious push into other healthcare products and services.
Despite the soft U.S. results, we think the wide-moat firm remains a compelling capital-allocation story at its current price.
Management expects fiscal 2018 earnings per share to tick up, and we continue to view the stock as a solid capital-allocation play.
Reduction in menu items and other productivity initiatives are making a difference at concepts beyond Olive Garden.
While changes would take time to implement, new leadership could help to improve the brand-intangible asset behind Chipotle's narrow economic moat.
The e-commerce giant's moves this year point to a focus on engaging Prime members and selling more third-party goods, says R.J. Hottovy.
The market remains ahead of the no-moat retailer's longer-term intrinsic value.
We see few near-term downside catalysts as CEO Mindy Grossman's plans take shape.