McDonald’s Corporation (MCD) Cooled Down in Q3 After a Strong Quarter

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. After a robust first half of the year, the S&P 500 Index declined 3.3% in the third quarter, leaving the market up 13.1% through the first nine months of 2023. On a relative basis, this year has not been good for the fund’s investment strategy. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Mid Cap Growth Fund highlighted stocks like McDonald’s Corporation (NYSE:MCD) in the third quarter 2023 investor letter. Headquartered in Chicago, Illinois, McDonald’s Corporation (NYSE:MCD) operates and franchises McDonald’s restaurants. On December 1, 2023, McDonald’s Corporation (NYSE:MCD) stock closed at $285.96 per share. One-month return of McDonald’s Corporation (NYSE:MCD) was 6.34%, and its shares gained 5.29% of their value over the last 52 weeks. McDonald’s Corporation (NYSE:MCD) has a market capitalization of $207.419 billion.

Carillon Eagle Mid Cap Growth Fund made the following comment about McDonald’s Corporation (NYSE:MCD) in its Q3 2023 investor letter:

“McDonald’s Corporation (NYSE:MCD) stock paused its upwards share price movement after its strong gain in the second quarter. The company’s same-store comparable sales performed better than expected in the second quarter, which relieved investors by suggesting that global consumer’s purchasing strength remains healthy.”

A close-up of customers ordering from a McDonald’s restaurant in Latin America.

McDonald’s Corporation (NYSE:MCD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 70 hedge fund portfolios held McDonald’s Corporation (NYSE:MCD) at the end of third quarter which was 68 in the previous quarter.

We discussed McDonald’s Corporation (NYSE:MCD) in another article and shared the list of best stocks to buy for investment. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.