Cohen Klingenstein LLC Decreases Holdings in McDonald’s Co. (NYSE:MCD)

Cohen Klingenstein LLC decreased its stake in McDonald’s Co. (NYSE:MCD) by 57.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,000 shares of the fast-food giant’s stock after selling 12,400 shares during the period. Cohen Klingenstein LLC’s holdings in McDonald’s were worth $2,609,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new stake in McDonald’s in the third quarter worth $25,000. RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s in the 3rd quarter worth about $31,000. Hara Capital LLC bought a new stake in McDonald’s in the 3rd quarter valued at about $44,000. Peterson Financial Group Inc. purchased a new stake in McDonald’s during the third quarter valued at about $58,000. Finally, FSA Wealth Management LLC bought a new position in McDonald’s during the third quarter worth about $72,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the transaction, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $453,882. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,704 shares of company stock worth $2,829,428 in the last 90 days. Company insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 0.4 %

MCD opened at $280.90 on Friday. The business’s 50-day moving average price is $292.90 and its 200-day moving average price is $286.75. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The company has a market cap of $201.30 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.67 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating 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 company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the business posted $3.19 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCD. Bank of America upped their price target on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Truist Financial decreased 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. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. Finally, TD Cowen reaffirmed a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $321.39.

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.