The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. McDonald’s Corp shares valued at $3,518,452 were sold by Kempczinski Christopher J on Sep 23 ’24. At $300.03 per share, Kempczinski Christopher J sold 11,727 shares. The insider’s holdings dropped to 49,885 shares worth approximately $15.15 million following the completion of this transaction.
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Also, Kempczinski Christopher J sold 6,629 shares, netting a total of over 1,988,700 in proceeds. Following the sale of shares at $300.00 each, the insider now holds 43,256 shares.
Before that, Borden Ian Frederick had sold 5,939 shares from its account. In a trade valued at $1,781,938, the EVP & CFO traded McDonald’s Corp shares for $300.04 each. Upon closing the transaction, the insider’s holdings decreased to 5,939 shares, worth approximately $6.2 million.
As published in a research note from Jefferies on September 09, 2024, McDonald’s Corp [MCD] has been retained to a Buy and the price target has been revised to $330. Analysts at TD Cowen downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late July. As of July 10, 2024, JP Morgan has reiterated its “an Overweight” rating for MCD. Earlier on July 02, 2024, Guggenheim resumed its rating. Their recommendation was “a Buy” for MCD stock.
Analyzing MCD Stock Performance
During the last five days, there has been a surge of approximately 3.34%. Over the course of the year, McDonald’s Corp shares have jumped approximately 2.41%. Shares of the company reached a 52-week high of $304.29 on 09/26/24 and a 52-week low of $243.53 on 07/09/24. A 50-day SMA is recorded $280.20, while a 200-day SMA reached $277.86. Nevertheless, trading volume fell to 1.97 million shares from 1.99 million shares the previous day.
Support And Resistance Levels for McDonald’s Corp (MCD)
According to the 24-hour chart, there is a support level at 301.49, which, if violated, would cause prices to drop to 299.34. In the upper region, resistance lies at 305.05. The next price resistance is at 306.45. RSI (Relative Strength Index) is 74.75 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.87, which suggests the price will increase in the coming days. Percent R is at 3.47%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
