Red Door Wealth Management LLC Has $1.63 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Red Door Wealth Management LLC raised its holdings in shares of McDonald’s Co. (NYSE:MCD) by 71.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,615 shares of the fast-food giant’s stock after purchasing an additional 2,349 shares during the period. Red Door Wealth Management LLC’s holdings in McDonald’s were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new position in McDonald’s in the third quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in shares of McDonald’s in the 3rd quarter worth $31,000. Hara Capital LLC acquired a new stake in shares of McDonald’s during the third quarter worth $44,000. Peterson Financial Group Inc. bought a new stake in McDonald’s in the third quarter valued at about $58,000. Finally, FSA Wealth Management LLC bought a new position in McDonald’s during the third quarter worth about $72,000. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price target on McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a research note on Tuesday. Truist Financial cut their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Bank of America boosted their price target on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $321.22.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $284.49 on Friday. The stock has a market capitalization of $203.87 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 3.68 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The stock has a 50 day moving average price of $291.49 and a 200 day moving average price of $287.90.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the business earned $3.19 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that McDonald’s Co. will post 11.73 EPS for the current year.

Insider Activity

In related news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $459,435.60. This represents a 49.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,605 shares of company stock valued at $2,508,102 over the last three months. Insiders own 0.23% of the company’s stock.

McDonald’s 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.