Swiss National Bank Sells 288,300 Shares of McDonald’s Co. (NYSE:MCD)

Swiss National Bank lowered its stake in McDonald’s Co. (NYSE:MCDFree Report) by 10.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,348,300 shares of the fast-food giant’s stock after selling 288,300 shares during the quarter. Swiss National Bank owned 0.32% of McDonald’s worth $618,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCD. Covestor Ltd boosted its stake in shares of McDonald’s by 103.4% during the 1st quarter. Covestor Ltd now owns 413 shares of the fast-food giant’s stock worth $102,000 after acquiring an additional 210 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of McDonald’s by 7.7% during the 1st quarter. NewEdge Advisors LLC now owns 69,824 shares of the fast-food giant’s stock valued at $17,266,000 after purchasing an additional 5,007 shares during the period. Mackenzie Financial Corp increased its holdings in McDonald’s by 4.8% in the 1st quarter. Mackenzie Financial Corp now owns 516,408 shares of the fast-food giant’s stock valued at $127,697,000 after acquiring an additional 23,643 shares during the last quarter. Stevens Capital Management LP bought a new stake in McDonald’s in the 1st quarter valued at $1,108,000. Finally, Equitable Holdings Inc. increased its holdings in McDonald’s by 59.7% in the 1st quarter. Equitable Holdings Inc. now owns 9,338 shares of the fast-food giant’s stock valued at $2,309,000 after acquiring an additional 3,490 shares during the last quarter. Hedge funds and other institutional investors own 67.60% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock traded down $1.03 during trading hours on Friday, hitting $297.05. The company had a trading volume of 3,971,607 shares, compared to its average volume of 2,751,348. The firm has a market cap of $215.46 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.63 and a beta of 0.73. McDonald’s Co. has a 1 year low of $245.73 and a 1 year high of $302.39. The company has a 50-day moving average price of $291.79 and a two-hundred day moving average price of $280.47.

Analysts Set New Price Targets

A number of brokerages have issued reports on MCD. Piper Sandler lifted their price target on shares of McDonald’s from $273.00 to $299.00 and gave the company a “neutral” rating in a report on Monday, December 11th. Citigroup lifted their price target on shares of McDonald’s from $280.00 to $310.00 and gave the company a “neutral” rating in a report on Thursday, November 30th. Wedbush reiterated an “outperform” rating and issued a $310.00 price target on shares of McDonald’s in a report on Tuesday, October 31st. Truist Financial lifted their price objective on shares of McDonald’s from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Stephens dropped their price objective on shares of McDonald’s from $325.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $317.77.

View Our Latest Analysis on McDonald’s

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 4,583 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $290.70, for a total value of $1,332,278.10. Following the completion of the sale, the insider now owns 8,187 shares in the company, valued at approximately $2,379,960.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Joseph M. Erlinger sold 4,583 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $290.70, for a total value of $1,332,278.10. Following the completion of the sale, the insider now owns 8,187 shares in the company, valued at approximately $2,379,960.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 4,487 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $281.25, for a total transaction of $1,261,968.75. Following the completion of the sale, the insider now owns 8,908 shares of the company’s stock, valued at approximately $2,505,375. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

McDonald’s Profile

(Free Report)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.

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

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