Toronto Dominion Bank Sells 82,339 Shares of McDonald’s Co. (NYSE:MCD)

Toronto Dominion Bank trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 21.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 303,643 shares of the fast-food giant’s stock after selling 82,339 shares during the quarter. Toronto Dominion Bank’s holdings in McDonald’s were worth $88,020,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Northeast Financial Consultants Inc boosted its holdings in shares of McDonald’s by 0.5% in the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock worth $2,170,000 after buying an additional 34 shares during the last quarter. Pettee Investors Inc. boosted its stake in McDonald’s by 0.7% in the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock valued at $1,566,000 after acquiring an additional 35 shares during the last quarter. Covestor Ltd boosted its stake in McDonald’s by 4.1% in the fourth quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock valued at $261,000 after acquiring an additional 35 shares during the last quarter. Independent Wealth Network Inc. grew its position in shares of McDonald’s by 5.1% during the 4th quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant’s stock valued at $213,000 after acquiring an additional 36 shares during the period. Finally, Blue Barn Wealth LLC grew its position in shares of McDonald’s by 4.3% during the 4th quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant’s stock valued at $252,000 after acquiring an additional 36 shares during the period. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Tiffanie L. Boyd sold 1,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total value of $309,270.00. Following the completion of the transaction, the executive vice president now directly owns 5,564 shares in the company, valued at approximately $1,720,778.28. The trade was a 15.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $305.00, for a total value of $286,395.00. Following the completion of the transaction, the insider now directly owns 13,978 shares in the company, valued at approximately $4,263,290. This represents a 6.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,636 shares of company stock worth $5,420,722. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock opened at $318.51 on Friday. The company has a market capitalization of $227.76 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 3.10 and a beta of 0.57. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $326.32. The business’s fifty day moving average is $310.04 and its 200 day moving average is $300.70.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting the consensus estimate of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.70 EPS. On average, sell-side analysts forecast that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

Analyst Ratings Changes

MCD has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Barclays boosted their target price on McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Bank of America upped their price target on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Truist Financial set a $350.00 price objective on McDonald’s in a report on Friday, May 2nd. Finally, Citigroup upped their price objective on shares of McDonald’s from $353.00 to $364.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $325.91.

McDonald’s 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.