What Does New Board Member Keith Meister Have in Store for Yum! Brands Inc. (YUM)?

Yum! Brands Inc. (NYSE:YUM) issued an update on its full-year earnings outlook and its China Division’s same-store sales. The company anticipates that the fourth quarter same-store sales growth in the China business will range from 0%-to-4%, with positive growth at KFC and negative growth at Pizza Hut Casual Dining. At the same time, the restaurant holding company expects the China division’s sales to decline in the low single-digit range for the full year. It is also worth pointing out that investors will now be able to get a better look at the sales trends in China, as the company intends to report monthly same-store sales. Let’s not forget to mention that Yum! Brands expects that currency exchange rates will negatively impact its full-year EPS growth by approximately 1%-to-2%. Ultimately, the company’s EPS is anticipated to register full year growth of flat-to-low single-digits.

In the meantime, Yum! Brands received some attention from the hedge funds tracked by Insider Monkey during the second quarter, as the number of money managers invested in the stock increased to 59 from 45 quarter-over-quarter. Similarly, the value of their investments increased to $4.06 billion from $1.49 billion. Finally, the hedge funds monitored by our team had stockpiled 10.40% of the company’s outstanding common stock on June 30.

Correction: This article was updated to indicate that Shanghai Husi Food Co was only alleged to have placed new labels on expired meat. An earlier version of the story incorrectly described the allegations as fact.

Disclosure: None