ZWJ Investment Counsel Inc. Trims Stake in McDonald’s Co. (NYSE:MCD)

ZWJ Investment Counsel Inc. decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,335 shares of the fast-food giant’s stock after selling 646 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in McDonald’s were worth $1,257,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in 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 worth $706,202,000 after purchasing an additional 2,311,721 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in McDonald’s by 542.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after buying an additional 677,139 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in McDonald’s during the 3rd quarter valued at about $121,254,000. Ameriprise Financial Inc. boosted its position in McDonald’s by 8.0% in the 2nd 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 grew its stake in McDonald’s by 3,580.1% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock worth $81,807,000 after acquiring an additional 261,350 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the 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 transaction, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their position. 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. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $280.90 on Tuesday. The business has a fifty day moving average of $292.54 and a 200 day moving average of $287.50. The firm has a market capitalization of $201.30 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 3.65 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating 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 firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the firm earned $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, equities research analysts expect that McDonald’s Co. will post 11.73 earnings per share for the current year.

Analysts Set New Price Targets

MCD has been the subject of a number of research reports. TD Cowen reiterated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. UBS Group increased their price target on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America lifted their price objective on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Truist Financial dropped 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. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. 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 company has a consensus rating of “Moderate Buy” and an average 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.