Verity & Verity LLC Acquires New Shares in McDonald’s Co. (NYSE:MCD)

Verity & Verity LLC bought a new position in McDonald’s Co. (NYSE:MCD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,021 shares of the fast-food giant’s stock, valued at approximately $1,166,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Steigerwald Gordon & Koch Inc. boosted its position in shares of McDonald’s by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after acquiring an additional 33 shares during the period. Riversedge Advisors LLC boosted its holdings in McDonald’s by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC grew its position in shares of McDonald’s by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after purchasing an additional 35 shares in the last quarter. Clear Creek Financial Management LLC increased its holdings in shares of McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after purchasing an additional 35 shares during the period. Finally, GDS Wealth Management raised its position in shares of McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.4 %

NYSE:MCD opened at $280.90 on Friday. The firm has a market capitalization of $201.30 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.67 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 company has a fifty day moving average of $292.90 and a 200 day moving average of $286.75.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the business posted $3.19 earnings per share. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current year.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now directly owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This trade represents a 9.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the transaction, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. This represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,704 shares of company stock worth $2,829,428. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their target price on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. BMO Capital Markets boosted their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. UBS Group lifted 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. Barclays increased their price target on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $321.39.

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.