Long-Term Returns of Carl Icahn’s 10 Activist Targets

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3. McDonald’s Corporation (NYSE:MCD)

Stock Return: -2.57%
S&P 500 Return: – 12.96%
Investment date: 2/20/2022

McDonald’s Corporation (NYSE:MCD) operates and franchises restaurants in the US and around the world. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches, and nuggets. Icahn invested in the company in 2022 and started pushing for his own candidates on the board.

Unlike in his previous investment, the activist investor wanted to change how pigs whose meat goes into McDonald’s Corporation (NYSE:MCD)’s sausage patties are treated. While owning 200 shares, he proposed two names to the board. However, he lost his proxy fight, signaling investors had not bought into his animal welfare concern.

Icahn did offload his stakes in the company but ended with a loss of 2.57% as the S&P 500 declined 12.96% in the same period.

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