Jonathan Banner, who serves as Executive Vice President and Chief Impact Officer at McDonald’s CORP (NASDAQ:MCD), completed a partial divestiture of company stock on February 23, 2026, disposing of 6,200.66 shares in two separate transactions for an aggregate amount near $2.06 million. Reported transaction prices for those trades ranged from $333.24 to $333.42 per share.
On the same date, Banner exercised previously granted stock options to acquire 4,600 shares of McDonald’s common stock at an exercise price of $266.20 per share, representing a total cost of $1,224,520. Those options originate from a grant dated February 13, 2023, and are exercisable in installments under the terms of that award.
The insider activity comes while McDonald’s stock is trading close to its 52-week high of $336. An InvestingPro valuation assessment cited in regulatory filings suggests the shares are trading above the platform’s Fair Value estimate, indicating a potential overvaluation relative to that analytical benchmark.
Alongside the reported insider transactions, several investment firms have updated their views on McDonald’s following the company’s most recent financial disclosures. UBS raised its price target to $365 from $350 and upheld a Buy rating, citing strong global same-store sales and traction from strategic initiatives in the fourth quarter. RBC Capital raised its target to $330 from $320, pointing to a solid fourth-quarter performance and a value-driven strategy that the firm believes supported market share gains.
Erste Group moved McDonald’s to a Buy rating from Hold, saying it expects stronger sales growth in the coming year. Argus also upgraded the stock to Buy, highlighting the appeal of McDonald’s value menus to budget-conscious consumers. Conversely, TD Cowen left its rating at Hold with a $320 price target, while acknowledging same-store sales that beat expectations across International Operated Markets and the U.S.
Collectively, these analyst actions and the insider transactions offer multiple datapoints for investors monitoring McDonald’s valuation and executive activity. The company’s share price near its 52-week peak and the InvestingPro valuation note introduce a valuation consideration, while the string of brokerages raising targets or upgrading ratings reflects a generally constructive near-term view from several firms.
Key points
- Jonathan Banner sold 6,200.66 McDonald’s shares on February 23, 2026, for about $2.06 million at prices between $333.24 and $333.42.
- Banner exercised options to buy 4,600 shares at $266.20 per share, for a total exercised amount of $1,224,520; the options stem from a February 13, 2023 grant and vest in installments.
- McDonald’s stock is trading near a 52-week high of $336 amid analysis from InvestingPro suggesting the shares are overvalued relative to Fair Value, while multiple brokerages have raised targets or ratings after Q4 results.
Risks and uncertainties
- Valuation risk - InvestingPro’s analysis indicates the stock may be overvalued versus its Fair Value, which introduces potential downside if market sentiment shifts.
- Insider transaction timing - The sale occurred while shares were trading near a 52-week high, a factor some market participants view as an uncertainty for near-term price direction.
- Analyst expectations - Recent upgrades and higher price targets reflect optimism tied to fourth-quarter performance; changes in future operating results could alter those outlooks and price targets.