Assetmark Inc. Acquires 2,782 Shares of McDonald’s Co. (NYSE:MCD)

Assetmark Inc. boosted its holdings in McDonald’s Co. (NYSE:MCDFree Report) by 10.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,810 shares of the fast-food giant’s stock after acquiring an additional 2,782 shares during the quarter. Assetmark Inc.’s holdings in McDonald’s were worth $7,853,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Horizon Bancorp Inc. IN raised its stake in McDonald’s by 160.0% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 117 shares of the fast-food giant’s stock valued at $35,000 after buying an additional 72 shares during the last quarter. Retirement Group LLC purchased a new stake in McDonald’s during the 4th quarter valued at $37,000. Worth Asset Management LLC raised its stake in McDonald’s by 277.5% during the 2nd quarter. Worth Asset Management LLC now owns 151 shares of the fast-food giant’s stock valued at $45,000 after buying an additional 111 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new stake in McDonald’s during the 2nd quarter valued at $46,000. Finally, Compass Wealth Management LLC purchased a new stake in McDonald’s during the 4th quarter valued at $45,000. 67.60% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Down 0.2 %

MCD opened at $293.43 on Friday. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $299.35. The firm has a 50-day simple moving average of $285.28 and a two-hundred day simple moving average of $280.37. The company has a market capitalization of $212.84 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 2.60 and a beta of 0.71.

McDonald’s (NYSE:MCDGet Free Report) last announced its quarterly earnings results on Monday, October 30th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.19. McDonald’s had a net margin of 33.31% and a negative return on equity of 157.19%. The firm had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter last year, the firm earned $2.68 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, sell-side analysts expect that McDonald’s Co. will post 11.75 earnings per share for the current year.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 4,487 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $256.61, for a total value of $1,151,409.07. Following the completion of the transaction, the insider now owns 9,534 shares of the company’s stock, valued at approximately $2,446,519.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Joseph M. Erlinger sold 4,583 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $290.70, for a total value of $1,332,278.10. Following the sale, the insider now directly owns 8,187 shares of the company’s stock, valued at approximately $2,379,960.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 4,487 shares of the stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $256.61, for a total transaction of $1,151,409.07. Following the completion of the sale, the insider now directly owns 9,534 shares in the company, valued at $2,446,519.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,557 shares of company stock valued at $3,745,656. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the subject of several analyst reports. HSBC initiated coverage on McDonald’s in a research note on Wednesday, December 20th. They issued a “buy” rating and a $317.00 price objective for the company. TD Cowen upped their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, December 7th. Truist Financial upped their price objective on McDonald’s from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. JPMorgan Chase & Co. upped their price objective on McDonald’s from $270.00 to $278.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 31st. Finally, Citigroup upped their price objective on McDonald’s from $280.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday, November 30th. Five research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $317.83.

Get Our Latest Research Report on MCD

About McDonald’s

(Free Report)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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