Billionaire Steve Cohen is Buying These 5 Stocks in 2022

In this article, we discuss 5 stocks that billionaire Steve Cohen is buying in 2022. If you want to see more stocks that were recently added to his portfolio, click Billionaire Steve Cohen is Buying These 10 Stocks in 2022.

5. Yum! Brands, Inc. (NYSE:YUM)

Number of Hedge Fund Holders: 45

Yum! Brands, Inc. (NYSE:YUM) operates and franchises quick service restaurants worldwide under the KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill brands. Steve Cohen’s hedge fund added Yum! Brands, Inc. (NYSE:YUM) to its Q1 2022 portfolio by purchasing 667,550 shares of the company, worth $79.12 million. 

BMO Capital analyst Andrew Strelzik on May 5 lowered the price target on Yum! Brands, Inc. (NYSE:YUM) to $130 from $140 and reiterated a Market Perform rating on the shares. The company’s Q1 earnings came in below expectations as softer margins offset Q1 franchise openings, the analyst told investors. He added that Yum! Brands, Inc. (NYSE:YUM)’s “attractive” unit growth outlook is balanced by a potentially mixed comp guidance and margin pressures.

According to Insider Monkey’s data, 45 hedge funds were bullish on Yum! Brands, Inc. (NYSE:YUM) at the end of Q1 2022, up from 36 funds in the last quarter. Ken Griffin’s Citadel Investment Group is the largest shareholder of the company, with 2.2 million shares worth $270 million.