Toronto Dominion Bank Decreases Position in McDonald’s Co. (NYSE:MCD)

Toronto Dominion Bank cut its holdings in McDonald’s Co. (NYSE:MCD) by 21.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 303,643 shares of the fast-food giant’s stock after selling 82,339 shares during the period. Toronto Dominion Bank’s holdings in McDonald’s were worth $88,020,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Atala Financial Inc bought a new stake in shares of McDonald’s in the 4th quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA purchased a new position in McDonald’s in the 4th quarter worth approximately $27,000. Collier Financial bought a new stake in McDonald’s in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC boosted its stake in shares of McDonald’s by 110.0% during the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Finally, GKV Capital Management Co. Inc. bought a new position in shares of McDonald’s in the fourth quarter worth approximately $30,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 3,200 shares of McDonald’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $300.76, for a total value of $962,432.00. Following the completion of the transaction, the chief marketing officer now directly owns 9,858 shares of the company’s stock, valued at approximately $2,964,892.08. The trade was a 24.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the transaction, the insider now owns 12,100 shares in the company, valued at approximately $3,853,850. This represents a 7.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,636 shares of company stock worth $5,420,722. 0.25% of the stock is owned by insiders.

McDonald’s Price Performance

Shares of NYSE MCD opened at $318.51 on Friday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The firm has a 50-day moving average of $310.04 and a 200 day moving average of $300.70. The stock has a market cap of $227.76 billion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 3.10 and a beta of 0.57.

McDonald’s (NYSE:MCD) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The business’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $2.70 earnings per share. Research analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Erste Group Bank raised shares of McDonald’s from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. Wedbush increased their target price on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Truist Financial set a $350.00 price target on McDonald’s in a research report on Friday, May 2nd. Eleven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $325.91.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.