Daniel Loeb’s Third Point LLC has built a “significant” position in KFC and Pizza Hut parent Yum Brands Inc., expressing optimism about its business in China.
Loeb, in his quarterly letter to his investors, disclosed the position Friday and said he sees a “dramatic profit recovery” coming in the next two years, while also crediting management for saying the right things about shareholder value.
Source: Daniel Loeb’s Third Point builds big stake in KFC, Pizza Hut – MarketWatch