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Yum! Brands (YUM) Pizza Hut Brings Plant-Based Menu to Canada

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Yum! Brands, Inc.’s (YUM - Free Report) Pizza Hut in collaboration with Beyond Meat, Inc. (BYND - Free Report) , recently announced the launch of new plant-based protein menu items — The Great Beyond, Beyond Creamy Alfredo and Alfredo Loaded Flatbread — in Canada.

The announcement comes as part of a broader collaboration between the two brands, after the company unveiled Beyond Meat’s meat-free options in the United States and the U.K. in November 2020.

The new plant-based menu items features Beyond Italian Sausage Crumble, which replicates the taste of Pizza Hut's Italian pork sausage with the help of a plant-based protein. Notably, The Great Beyond pizza includes fresh veggie toppings such as tomatoes, red onions and tangy banana peppers served on Pizza Hut's crust pizza, paired alongside the Beyond Italian Sausage. The Alfredo Loaded Flatbread comes with a crispy flatbread topped with flavor-packed Beyond Italian Sausage Crumble, roasted red pepper, creamy alfredo sauce and mozzarella cheese. Meanwhile, Beyond Creamy Alfredo (a pasta dish) features Beyond Italian Sausage Crumble, onions, mushrooms and mozzarella cheese.

The new menu items will be made available for a limited time at Pizza Hut locations in Mississauga, Etobicoke, Milton, Oakville and Edmonton. Also, it can be availed through online and app purchases through contactless delivery and pick-up.

With respect to the launch, Devon Lawrence, marketing manager, Pizza Hut Canada, stated, “As Canadians continue to seek convenient ways to incorporate more plant-based protein in their lives, we are excited to partner with Beyond Meat, a leader in plant-based protein, to bring consumers expanded choice across our menus.”

Price Performance

Coming to price performance, shares of Yum! Brands’ have gained 9.3% so far this year compared with the industry's 7.8% growth. Notably, the company has been benefitting from focus on off-premise channels, strategic investments in digital technology and refranchising efforts. This along with implementations of various digital features in mobile and online platforms (across all brand segments) is adding to the upside. Meanwhile, earnings estimates for 2021 have moved up in the past 30 days, depicting analysts’ optimism regarding the stock’s growth potential.

Zacks Rank & Other Key Picks

Yum! Brands currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some other top-ranked stocks in the same space include Chuy's Holdings, Inc. (CHUY - Free Report) and Texas Roadhouse, Inc. (TXRH - Free Report) each sporting a Zacks Rank #1.

Chuy's Holdings has a trailing four-quarter earnings surprise of 127.6%, on average.

Texas Roadhouse has a three-five year earnings per share growth rate of 10%.

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