ABN AMRO Bank N.V. Raises Position in McDonald’s Corporation $MCD

ABN AMRO Bank N.V. lifted its position in McDonald’s Corporation (NYSE:MCDFree Report) by 11.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 42,167 shares of the fast-food giant’s stock after acquiring an additional 4,296 shares during the period. ABN AMRO Bank N.V.’s holdings in McDonald’s were worth $12,770,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s during the second quarter valued at $25,000. Decker Retirement Planning Inc. boosted its holdings in shares of McDonald’s by 142.9% during the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Evergreen Private Wealth LLC grew its stake in shares of McDonald’s by 162.5% in the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after acquiring an additional 52 shares during the period. GFG Capital LLC purchased a new position in shares of McDonald’s during the second quarter valued at approximately $29,000. Finally, Financial Gravity Companies Inc. purchased a new position in shares of McDonald’s during the second quarter valued at approximately $29,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s News Summary

Here are the key news stories impacting McDonald’s this week:

McDonald’s Stock Performance

NYSE:MCD opened at $323.28 on Thursday. The stock has a 50-day simple moving average of $310.43 and a two-hundred day simple moving average of $306.92. The firm has a market capitalization of $230.22 billion, a PE ratio of 27.58, a P/E/G ratio of 3.23 and a beta of 0.52. McDonald’s Corporation has a 52-week low of $283.47 and a 52-week high of $326.95.

McDonald’s (NYSE:MCDGet Free Report) last posted its quarterly earnings data 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). The company had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.23 earnings per share. Equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the completion of the transaction, the chief financial officer owned 26,353 shares of the company’s stock, valued at approximately $8,169,430. This represents a 39.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the stock in a transaction on 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 completion of the sale, the executive vice president owned 4,606 shares of the company’s stock, valued at $1,407,133. The trade was a 58.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,008 shares of company stock worth $9,895,452 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

MCD has been the topic of several research reports. KeyCorp raised their target price on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Truist Financial lifted their price objective on McDonald’s from $350.00 to $356.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Oppenheimer upgraded McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 price objective for the company in a research report on Tuesday, January 6th. Sanford C. Bernstein reissued an “overweight” rating and issued a $372.00 target price on shares of McDonald’s in a research report on Wednesday, January 7th. Finally, Robert W. Baird boosted their price target on McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Fifteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s has an average rating of “Hold” and a consensus target price of $331.37.

Read Our Latest Stock Analysis on McDonald’s

About McDonald’s

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Corporation (NYSE:MCDFree Report).

Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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