McDonald’s Co. (NYSE:MCD) Shares Sold by City Holding Co.

City Holding Co. reduced its position in McDonald’s Co. (NYSE:MCD) by 20.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,057 shares of the fast-food giant’s stock after selling 5,781 shares during the quarter. McDonald’s makes up about 0.9% of City Holding Co.’s investment portfolio, making the stock its 25th biggest holding. City Holding Co.’s holdings in McDonald’s were worth $6,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in McDonald’s by 1.4% during the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock worth $4,833,510,000 after acquiring an additional 220,365 shares during the period. Wellington Management Group LLP grew its stake in McDonald’s by 0.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock worth $4,592,892,000 after buying an additional 128,800 shares during the last quarter. Legal & General Group Plc increased its position in McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after buying an additional 188,888 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after buying an additional 49,106 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after acquiring an additional 354,196 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 0.4 %

Shares of NYSE:MCD opened at $280.90 on Monday. The firm has a market cap of $201.30 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 3.67 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The business has a fifty day simple moving average of $292.54 and a 200 day simple moving average of $287.24.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.19 EPS. On average, sell-side analysts forecast that McDonald’s Co. will post 11.73 EPS for the current year.

Insider Transactions at McDonald’s

In other news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. This trade represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now directly owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,704 shares of company stock worth $2,829,428 in the last 90 days. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCD has been the topic of several recent research reports. Truist Financial cut their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Loop Capital reissued a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a report on Friday, January 3rd. Evercore ISI boosted their price target on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $321.39.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.