McDonald’s Co. (NYSE:MCD) Stock Position Lowered by OLD Republic International Corp

OLD Republic International Corp lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 236,500 shares of the fast-food giant’s stock after selling 3,300 shares during the period. McDonald’s comprises approximately 2.6% of OLD Republic International Corp’s holdings, making the stock its 8th largest holding. OLD Republic International Corp’s holdings in McDonald’s were worth $70,125,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of McDonald’s by 0.4% in the third quarter. Vanguard Group Inc. now owns 68,449,565 shares of the fast-food giant’s stock worth $18,032,353,000 after buying an additional 262,147 shares during the period. Northern Trust Corp raised its position in McDonald’s by 1.7% in the 3rd quarter. Northern Trust Corp now owns 9,200,473 shares of the fast-food giant’s stock worth $2,423,773,000 after purchasing an additional 151,161 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of McDonald’s by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,425,674 shares of the fast-food giant’s stock valued at $1,589,073,000 after buying an additional 35,639 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in McDonald’s by 4.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,593,760 shares of the fast-food giant’s stock valued at $1,209,171,000 after acquiring an additional 199,657 shares during the period. Finally, California Public Employees Retirement System grew its position in McDonald’s by 0.7% in the 4th quarter. California Public Employees Retirement System now owns 3,911,764 shares of the fast-food giant’s stock valued at $1,159,877,000 after acquiring an additional 26,147 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MCD shares. UBS Group lowered their price target on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Guggenheim lowered their target price on shares of McDonald’s from $325.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Wedbush reduced their price objective on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Truist Financial lowered their price objective on McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Stifel Nicolaus reduced their price objective on McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $317.74.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the sale, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

McDonald’s Stock Performance

Shares of MCD traded up $2.00 during trading hours on Friday, hitting $269.95. The stock had a trading volume of 845,031 shares, compared to its average volume of 3,279,959. The firm has a market capitalization of $194.64 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 3.01 and a beta of 0.71. The firm has a 50-day moving average price of $277.42 and a 200 day moving average price of $282.69. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.63 EPS. As a group, analysts predict that McDonald’s Co. will post 12.18 EPS for the current fiscal year.

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.