Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in McDonald's Corporation $MCD

Key Points

• Zurcher Kantonalbank increased its stake in McDonald's by 7.0% in Q4, adding 24,138 shares to hold 366,571 shares (about 0.05% of the company) valued at roughly $112.0 million.
• Insider selling has been notable recently: EVP Jonathan Banner sold 6,201 shares at $333.29 and Joseph Erlinger sold 2,626 shares at $325.25, with insiders offloading 71,657 shares worth $23.72 million in the past 90 days (insiders own 0.26%).
• Several analysts have raised price targets (e.g., KeyCorp to $354, Truist to $370, Oppenheimer upgraded to "outperform"), but the consensus rating remains "Hold" with an average target of $339.69.

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 7.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 366,571 shares of the fast-food giant's stock after acquiring an additional 24,138 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of McDonald's worth $112,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Evergreen Private Wealth LLC raised its stake in shares of McDonald's by 162.5% during the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant's stock valued at $26,000 after acquiring an additional 52 shares in the last quarter. Park Place Capital Corp grew its stake in McDonald's by 95.7% in the fourth quarter. Park Place Capital Corp now owns 92 shares of the fast-food giant's stock worth $28,000 after purchasing an additional 45 shares in the last quarter. Painted Porch Advisors LLC grew its stake in McDonald's by 735.7% in the third quarter. Painted Porch Advisors LLC now owns 117 shares of the fast-food giant's stock worth $36,000 after purchasing an additional 103 shares in the last quarter. Davis Capital Management purchased a new position in McDonald's during the 3rd quarter worth $37,000. Finally, Saranac Partners Ltd purchased a new position in McDonald's during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Insider Activity

In related news, EVP Jonathan Banner sold 6,201 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $333.29, for a total transaction of $2,066,731.29. Following the completion of the transaction, the executive vice president owned 2,291 shares in the company, valued at $763,567.39. The trade was a 73.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 2,626 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $325.25, for a total transaction of $854,106.50. Following the completion of the sale, the insider owned 5,398 shares of the company's stock, valued at approximately $1,755,699.50. This trade represents a 32.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 71,657 shares of company stock worth $23,723,307. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. KeyCorp upped their target price on McDonald's from $340.00 to $354.00 and gave the stock an "overweight" rating in a report on Tuesday, March 3rd. Truist Financial raised their price target on McDonald's from $356.00 to $370.00 and gave the company a "buy" rating in a research note on Thursday, February 12th. Guggenheim decreased their price objective on McDonald's from $325.00 to $320.00 and set a "neutral" rating for the company in a report on Friday, February 13th. Royal Bank Of Canada upped their price objective on shares of McDonald's from $320.00 to $330.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 12th. Finally, Oppenheimer upgraded shares of McDonald's from a "market perform" rating to an "outperform" rating and set a $355.00 target price on the stock in a report on Tuesday, January 6th. Seventeen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $339.69.

McDonald's Price Performance

Shares of NYSE MCD opened at $311.78 on Monday. McDonald's Corporation has a 1-year low of $283.47 and a 1-year high of $341.75. The business has a fifty day moving average price of $319.62 and a 200 day moving average price of $311.90. The stock has a market capitalization of $221.63 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 2.81 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last posted its earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.05 by $0.07. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.81 billion. McDonald's had a negative return on equity of 343.90% and a net margin of 31.85%.The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.83 earnings per share. As a group, equities research analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd were given a $1.86 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. McDonald's's payout ratio is presently 62.26%.

McDonald's Company Profile

McDonald's Corporation NYSE: MCD is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald's serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand's national and international expansion.

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