In its latest quarter, McDonald’s reported earnings per share of $3.22, missing the consensus estimate of $3.33. Revenue totaled $7.08 billion, up 3.0% year-over-year but slightly below the $7.10 billion analysts had forecast. The company’s net margin stood at 32.04%, while return on equity swung to negative 280.89% due to share repurchases and balance sheet adjustments. Comparable same-store sales growth in its U.S. market was 4.5%, driven by menu price increases and digital sales gains, though transactions dipped 1.8% from the year-ago period.

During the third quarter, UMB Bank n.a. reduced its stake by 1.6%, selling 2,144 shares to hold 128,795 shares valued at $39.14 million. Major investors also reshuffled positions: Norges Bank initiated a new stake valued at approximately $2.78 billion, Laurel Wealth Advisors boosted its position by 29,382.3% to 5.74 million shares worth $1.68 billion, Soundwatch Capital entered with a $1.41 billion position, Viking Global Investors upped its stake 171.7% to 3.13 million shares ($913.16 million), and Amundi increased its holdings 96.0% to 4.03 million shares ($1.19 billion). Insiders collectively sold 45,142 shares worth $13.84 million in the last quarter, reducing insider ownership to 0.25%, while institutional investors now hold 70.29% of the company’s shares.

Out of 30 research firms covering the company, 13 have issued a Buy rating, 15 maintain Hold, and 2 recommend Sell, yielding a consensus Hold rating. The average target price is $328.88. Notable recent actions include a target price increase by Robert W. Baird from $322 to $325 with a Neutral rating, Truist Financial’s lift from $350 to $356 with a Buy rating, and reaffirmed Holds from TD Cowen and Morgan Stanley. BMO Capital Markets continues to rate the stock Outperform, pointing to resilient consumer demand and ongoing digital expansion.

McDonald’s continues to expand its digital capabilities, with digital sales representing 25% of total revenue in the quarter, a 6 percentage-point increase from last year. The company opened 150 new restaurants globally in the quarter, 95% of which are franchised locations, underscoring its asset-light model. Franchisees contributed US systemwide sales growth of 5.2%, supported by promotional rollout of new menu items and localized marketing campaigns. The pipeline includes over 2,000 planned restaurant openings over the next three years, with a focus on high-growth markets in Asia-Pacific and Latin America.