Business Insider – Hedge fund titan Bill Ackman, the CEO of $18 billion Pershing Square Capital Management, made some pretty negative comments on McDonald’s Wednesday on Bloomberg TV’s “The Pulse.”
From Bloomberg TV (emphasis ours):
“You know, at this point, we’re a Burger King shareholder. Burger King I think is taking very meaningful market share away from McDonald’s. We have a lot of confidence in the Burger King management team. So I think it’d probably be unlikely for us to be competing with ourselves. And I think McDonald’s stock is not cheap. You know, I think the company has serious issues, but because there’s a very strong balance sheet, pays almost a 4 percent dividend yield, I think that supports the stock price. So I think it’s not as interesting because the dividend supports a value that I think is maybe not justified based on the current performance of the company.”
