McDonald’s President Sells $4M in Stock Amid Earnings Miss
Manuel JM Steijaert, President of McDonald’s (MCD), offloaded $4 million worth of company shares on November 5—the same day the fast-food giant reported disappointing Q3 results. The sale of 13,134 shares at $3.95 million leaves Steijaert with 4,606 shares valued at $1.38 million.
McDonald’s earnings fell short of Wall Street expectations, with EPS of $3.22 versus $3.33 estimates and revenue of $7.08 billion against $7.10 billion forecasts. CEO Chris Kempczinski cited a "challenging" environment as low-income consumers cut back on dining out.