OLD National Bancorp IN Grows Position in McDonald's Co. (NYSE:MCD)

OLD National Bancorp IN increased its stake in shares of McDonald's Co. (NYSE:MCD - Free Report) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,919 shares of the fast-food giant's stock after acquiring 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.

A number of other large investors have also recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake in shares of McDonald's by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant's stock worth $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in McDonald's by 542.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant's stock valued at $244,174,000 after purchasing an additional 677,139 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in McDonald's during the third quarter valued at approximately $121,254,000. Zurich Insurance Group Ltd FI lifted its position in McDonald's by 3,580.1% during the third quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant's stock valued at $81,807,000 after purchasing an additional 261,350 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of McDonald's in the 4th quarter worth approximately $64,805,000. 70.29% of the stock is owned by institutional investors.

McDonald's Stock Down 0.5 %

McDonald's stock traded down $1.49 during mid-day trading on Friday, hitting $288.83. 2,556,402 shares of the company's stock were exchanged, compared to its average volume of 2,785,411. The company's 50 day simple moving average is $291.12 and its 200-day simple moving average is $289.51. The firm has a market capitalization of $206.98 billion, a P/E ratio of 25.36, a PEG ratio of 3.85 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.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald's had a net margin of 31.79% and a negative return on equity of 175.42%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $3.19 earnings per share. Research analysts expect that McDonald's Co. will post 11.68 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Evercore ISI lifted their target price on shares of McDonald's from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 15th. Citigroup upped their price target on shares of McDonald's from $334.00 to $336.00 and gave the stock a "buy" rating in a research note on Tuesday. Truist Financial lowered their target price on shares of McDonald's from $350.00 to $342.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. TD Cowen reissued a "hold" rating and issued a $300.00 target price on shares of McDonald's in a report on Tuesday, October 29th. Finally, Argus raised shares of McDonald's from a "hold" rating to a "buy" rating in a report on Tuesday, October 8th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, McDonald's presently has an average rating of "Moderate Buy" and a consensus target price of $320.87.

Insider Buying and Selling

In other McDonald's news, insider Joseph M. Erlinger sold 300 shares of the company's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares of the company's stock, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the transaction, the executive vice president now directly owns 1,560 shares of the company's stock, valued at $453,882. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,406 shares of company stock valued at $2,150,857 over the last 90 days. 0.23% of the stock is owned by insiders.

McDonald's Company 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.