McDonald’s (MCD) President Cashes Out Stock Amid Earnings Miss—Timing Raises Eyebrows
Another day, another corporate exec making moves while shareholders scratch their heads.
McDonald’s president offloaded stock the same day the fast-food giant reported disappointing earnings—because why let bad news dampen your personal liquidity event?
Active investors might call this 'strategic timing.' Cynics would note it’s just Wall Street business as usual—where insiders always seem to sidestep the fallout.
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Steijaert sold 13,134 shares of MCD stock for proceeds of $3.95 million on Nov. 5, the same day the company released its Q3 print. Following the sale, Steijaert still own 4,606 shares of MCD stock valued at $1.38 million.
The stock sales is notable as it occurred on the day that McDonald’s delivered financial results that missed Wall Street forecasts on both the top and bottom lines. Citing weak demand among consumers, notably low-income clientele, McDonald’s delivered misses on both its sales and profits for this year’s third quarter.
Poor Showing
The company known for its hamburgers and fries announced earnings per share (EPS) of $3.22, which was below the $3.33 consensus expectation of analysts. Revenue in the quarter totaled $7.08 billion, which was below the $7.10 billion forecast on Wall Street.
McDonald’s CEO Chris Kempczinski said the current operating environment is “challenging” as consumers dine out less often. Restaurant spending among low-income diners has become particularly challenged, he noted. MCD stock has risen 5% this year.
