Chesapeake Wealth Management Sells 209 Shares of McDonald’s Co. (NYSE:MCD)

Chesapeake Wealth Management decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 1.9% in the 4th quarter, HoldingsChannel reports. The firm owned 11,043 shares of the fast-food giant’s stock after selling 209 shares during the quarter. McDonald’s accounts for 1.1% of Chesapeake Wealth Management’s portfolio, making the stock its 25th largest holding. Chesapeake Wealth Management’s holdings in McDonald’s were worth $3,201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of McDonald’s by 542.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock valued at $244,174,000 after buying an additional 677,139 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of McDonald’s in the third quarter valued at approximately $121,254,000. Ameriprise Financial Inc. increased its stake in shares of McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after buying an additional 354,196 shares during the period. Finally, Zurich Insurance Group Ltd FI increased its stake in shares of McDonald’s by 3,580.1% in the third quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock valued at $81,807,000 after buying an additional 261,350 shares during the period. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of several recent research reports. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Morgan Stanley increased their target price on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Wells Fargo & Company increased their target price on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, UBS Group increased their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $321.39.

Insider Buying and Selling

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This represents a 26.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,704 shares of company stock worth $2,829,428 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.4 %

Shares of MCD opened at $280.90 on Tuesday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The business’s fifty day moving average is $292.54 and its 200 day moving average is $287.50. The stock has a market cap of $201.30 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.65 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the business earned $3.19 EPS. McDonald’s’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts expect that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.