OLD National Bancorp IN boosted its holdings in McDonald’s Co. (NYSE:MCD – Free Report) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,919 shares of the fast-food giant’s stock after purchasing an additional 4,029 shares during the quarter. OLD National Bancorp IN’s holdings in McDonald’s were worth $10,413,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in McDonald’s in the third quarter worth $25,000. RPg Family Wealth Advisory LLC acquired a new position in McDonald’s in the third quarter worth $31,000. Hara Capital LLC acquired a new position in McDonald’s in the third quarter worth $44,000. Peterson Financial Group Inc. acquired a new position in McDonald’s in the third quarter worth $58,000. Finally, FSA Wealth Management LLC acquired a new position in McDonald’s in the third quarter worth $72,000. Institutional investors and hedge funds own 70.29% of the company’s stock.
Insider Buying and Selling
In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. This trade represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the transaction, the insider now owns 9,286 shares in the company, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,905 shares of company stock worth $2,592,327. Insiders own 0.23% of the company’s stock.
McDonald’s Price Performance
McDonald’s (NYSE:MCD – Get Free Report) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the prior year, the company earned $3.19 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that McDonald’s Co. will post 11.72 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on MCD. Bank of America boosted their price target on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Loop Capital reissued a “buy” rating and set a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. Barclays boosted their price target on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Truist Financial reduced their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Citigroup boosted their price target on shares of McDonald’s from $334.00 to $336.00 and gave the company a “buy” rating in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $320.87.
Check Out Our Latest Analysis on MCD
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.
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