Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. The S&P 500 Index continued its recent all-time high, beginning the year’s first quarter at a robust 10.6%. This quarter’s results followed a common pattern to much of 2023: large outperforming small and growth outperforming value. Energy was the best-performing sector while real estate investment trusts (REITs) were the only sector with negative returns. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Carillon Eagle Growth & Income Fund highlighted stocks like McDonald’s Corporation (NYSE:MCD), in the first quarter 2024 investor letter. McDonald’s Corporation (NYSE:MCD) operates and franchises restaurants. The one-month return of McDonald’s Corporation (NYSE:MCD) was -6.05%, and its shares lost 11.88% of their value over the last 52 weeks. On June 10, 2024, McDonald’s Corporation (NYSE:MCD) stock closed at $254.28 per share with a market capitalization of $183.255 billion.
Carillon Eagle Growth & Income Fund stated the following regarding McDonald’s Corporation (NYSE:MCD) in its first quarter 2024 investor letter:
“McDonald’s Corporation (NYSE:MCD) faces several short-term headwinds. Lower-income consumers have been cautious with spending, as they are feeling the cumulative effects of inflation more than higher-income cohorts. As the low cost/ value player in fast food, McDonald’s has a customer base that skews lower income. Also, as an international company, McDonald’s is feeling negative effects from war and tensions in the Middle East, as well as softness in China.”
A cook in a busy kitchen assembling cheeseburgers for orders.
McDonald’s Corporation (NYSE:MCD) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 63 hedge fund portfolios held McDonald’s Corporation (NYSE:MCD) at the end of the first quarter which was 63 in the previous quarter. In the first quarter, McDonald’s Corporation (NYSE:MCD) achieved its 13th consecutive quarter of positive revenue growth. While we acknowledge the potential of McDonald’s Corporation (NYSE:MCD) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed McDonald’s Corporation (NYSE:MCD) and shared the list of largest food companies in the world by market cap. In addition, please check out our hedge fund investor letters Q1 2024 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.
