Jim Cramer Commented on 13 Stocks Like Meta and Yum! Brands

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

Yum! Brands, Inc. (NYSE:YUM) was among the stocks on which Jim Cramer commented, as he emphasized that SpaceX investors are betting on Elon Musk rather than the company’s earnings. Cramer called it one of his favorites, as he commented:

This morning, Yum! Brands, long one of my favorites, made it official. The restaurant company… KFC, Taco Bell, and Pizza Hut has decided to sell off pizza. The non-China business goes to LongRange Capital, that’s a private equity firm paying roughly $1.5 billion, while the mainland China business goes to Yum China for $1.2 billion. Oh, that’s a big chunk of change here. At the same time, Yum’s board of directors approved a $4 billion buyback, which is equal, by the way, to roughly 9% of the company’s current market cap. This is meaningful. I think this is a brilliant move. KFC has been solid. Taco Bell’s terrific, but pizza has been a drag.

Yum! Brands, Inc. (NYSE:YUM) develops and franchises several quick-service restaurants, including well-known brands such as KFC and Taco Bell. Cramer discussed the upcoming sale of the company’s pizza business during the June 2 episode. He stated:

Got two fast food companies that are down on their luck that we all know, McDonald’s and Yum! Brands… As for Yum, yesterday we started hearing chatter that they’re in talks to sell the ne’er-do-well Pizza Hut business to an outfit called LongRange Capital. I thought this one would explode higher on the news because the remaining KFC and Taco Bell are two amazing performers. I think the love affair with tech though, is taking the stock down to well below where it should be. A Yum free of Pizza Hut is a Yum that’s going to trade much higher.