Townsquare Capital LLC Decreases Holdings in McDonald’s Corporation $MCD

Townsquare Capital LLC reduced its position in McDonald’s Corporation (NYSE:MCD) by 28.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,152 shares of the fast-food giant’s stock after selling 2,419 shares during the period. Townsquare Capital LLC’s holdings in McDonald’s were worth $1,870,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of McDonald’s by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 71,331,031 shares of the fast-food giant’s stock worth $20,840,787,000 after buying an additional 921,936 shares in the last quarter. State Street Corp lifted its holdings in shares of McDonald’s by 0.8% in the second quarter. State Street Corp now owns 34,828,352 shares of the fast-food giant’s stock valued at $10,175,800,000 after purchasing an additional 272,139 shares in the last quarter. Geode Capital Management LLC grew its position in shares of McDonald’s by 1.7% in the second quarter. Geode Capital Management LLC now owns 16,828,420 shares of the fast-food giant’s stock valued at $4,901,595,000 after purchasing an additional 276,065 shares during the last quarter. Norges Bank purchased a new position in shares of McDonald’s during the 2nd quarter worth approximately $2,780,712,000. Finally, Laurel Wealth Advisors LLC lifted its stake in McDonald’s by 29,382.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after buying an additional 5,718,087 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In related news, CFO Ian Frederick Borden sold 17,134 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $310.00, for a total value of $5,311,540.00. Following the completion of the sale, the chief financial officer directly owned 26,353 shares in the company, valued at approximately $8,169,430. This represents a 39.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $305.50, for a total value of $2,006,218.50. Following the transaction, the executive vice president owned 4,606 shares in the company, valued at approximately $1,407,133. This represents a 58.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 45,142 shares of company stock valued at $13,841,169 in the last quarter. Company insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock opened at $315.17 on Friday. The stock’s 50-day moving average is $309.64 and its 200-day moving average is $306.32. The company has a market cap of $224.44 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 3.16 and a beta of 0.53. McDonald’s Corporation has a 12 month low of $283.47 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the firm earned $3.23 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current year.

Analysts Set New Price Targets

MCD has been the subject of a number of analyst reports. Piper Sandler reissued a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a report on Wednesday, October 22nd. Guggenheim upped their price objective on shares of McDonald’s from $295.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. TD Cowen reaffirmed a “hold” rating on shares of McDonald’s in a research note on Thursday, January 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of McDonald’s in a report on Wednesday. Finally, BTIG Research restated a “neutral” rating on shares of McDonald’s in a report on Friday, October 24th. Thirteen equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $328.88.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.