McDonald's Co. (NYSE:MCD) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC cut its position in shares of McDonald's Co. (NYSE:MCD - Free Report) by 57.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,000 shares of the fast-food giant's stock after selling 12,400 shares during the quarter. Cohen Klingenstein LLC's holdings in McDonald's were worth $2,609,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. grew its position in shares of McDonald's by 1.9% in the second quarter. American Century Companies Inc. now owns 48,190 shares of the fast-food giant's stock valued at $12,281,000 after purchasing an additional 915 shares during the period. Brighton Jones LLC grew its holdings in McDonald's by 8.4% in the 2nd quarter. Brighton Jones LLC now owns 8,291 shares of the fast-food giant's stock valued at $2,113,000 after buying an additional 646 shares during the period. Trust Investment Advisors acquired a new position in shares of McDonald's during the 2nd quarter valued at about $328,000. Wealth Advisors of Tampa Bay LLC lifted its holdings in shares of McDonald's by 12.1% during the 2nd quarter. Wealth Advisors of Tampa Bay LLC now owns 17,446 shares of the fast-food giant's stock worth $4,446,000 after acquiring an additional 1,880 shares during the period. Finally, Retirement Investment Advisors Inc. acquired a new stake in shares of McDonald's in the second quarter worth approximately $248,000. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Stock Up 0.4 %

NYSE MCD traded up $1.16 during trading hours on Friday, hitting $280.90. The company had a trading volume of 3,304,829 shares, compared to its average volume of 2,456,984. The firm has a market cap of $201.30 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 3.67 and a beta of 0.73. McDonald's Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The business has a fifty day simple moving average of $292.54 and a 200-day simple moving average of $287.24.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts' consensus estimates of $3.18 by $0.05. McDonald's had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion for the quarter, compared to analysts' expectations of $6.82 billion. During the same quarter last year, the company earned $3.19 EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts forecast that McDonald's Co. will post 11.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Baird R W downgraded shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. KeyCorp lifted their target price on McDonald's from $305.00 to $330.00 and gave the company an "overweight" rating in a report on Monday, October 7th. UBS Group upped their price target on McDonald's from $305.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Truist Financial reduced their price objective on McDonald's from $350.00 to $342.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. Finally, Loop Capital reissued a "buy" rating and set a $342.00 target price on shares of McDonald's in a research report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $321.39.

Insider Buying and Selling

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the transaction, the executive vice president now directly owns 9,675 shares in the company, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,499 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,704 shares of company stock valued at $2,829,428 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

About McDonald's

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.