M.E. Allison & CO. Inc. bought a new position in McDonald’s Co. (NYSE:MCD – Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 781 shares of the fast-food giant’s stock, valued at approximately $227,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Kennebec Savings Bank purchased a new stake in McDonald’s in the third quarter valued at approximately $1,394,000. Charles Schwab Investment Management Inc. raised its position in shares of McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after buying an additional 49,106 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after acquiring an additional 51,210 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after acquiring an additional 2,997 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in McDonald’s in the third quarter valued at $16,870,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.
Insider Activity
In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now directly owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $459,435.60. This trade represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,704 shares of company stock worth $2,829,428 over the last three months. 0.23% of the stock is currently owned by corporate insiders.
McDonald’s Stock Performance
McDonald’s (NYSE:MCD – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.19 EPS. Equities research analysts predict that McDonald’s Co. will post 11.73 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on MCD. Barclays lifted their price target on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their target price on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. UBS Group boosted their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Bank of America lifted their target price on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $321.39.
View Our Latest Research Report on McDonald’s
About McDonald’s
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.
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