Keybank National Association OH Lowers Holdings in McDonald’s Corporation $MCD

Keybank National Association OH reduced its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 376,395 shares of the fast-food giant’s stock after selling 12,211 shares during the period. Keybank National Association OH’s holdings in McDonald’s were worth $114,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in McDonald’s during the 2nd quarter worth $2,780,712,000. Laurel Wealth Advisors LLC boosted its stake in shares of 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 during the period. Soundwatch Capital LLC purchased a new position in shares of McDonald’s in the 2nd quarter valued at about $1,412,069,000. Viking Global Investors LP increased its stake in McDonald’s by 171.7% in the second quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after purchasing an additional 1,974,998 shares during the last quarter. Finally, Amundi raised its holdings in McDonald’s by 96.0% during the second quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock worth $1,188,147,000 after purchasing an additional 1,974,751 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 0.2%

Shares of McDonald’s stock opened at $314.86 on Friday. The firm has a market cap of $224.23 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 3.19 and a beta of 0.53. McDonald’s Corporation has a 52-week low of $283.47 and a 52-week high of $326.32. The company’s 50-day simple moving average is $309.76 and its 200-day simple moving average is $306.41.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 EPS 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 firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the previous year, the business earned $3.23 EPS. McDonald’s’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Desiree Ralls-Morrison sold 2,486 shares of McDonald’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total value of $795,520.00. Following the sale, the executive vice president directly owned 6,268 shares in the company, valued at $2,005,760. The trade was a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the company’s 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 transaction, the executive vice president directly owned 4,606 shares in the company, valued at $1,407,133. This represents a 58.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 45,142 shares of company stock valued at $13,841,169 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BTIG Research restated a “neutral” rating on shares of McDonald’s in a report on Friday, October 24th. KeyCorp upped their price objective on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Mizuho raised McDonald’s to a “hold” rating in a report on Tuesday, October 28th. Wells Fargo & Company raised their price objective on shares of McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Citigroup reduced their target price on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Thirteen analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Hold” and an average target price of $328.88.

McDonald’s Company 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.