McDonald’s Co. (NYSE:MCD) Holdings Lifted by Bennett Associates Wealth Management

Bennett Associates Wealth Management boosted its holdings in McDonald’s Co. (NYSE:MCD) by 22.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 922 shares of the fast-food giant’s stock after acquiring an additional 171 shares during the quarter. Bennett Associates Wealth Management’s holdings in McDonald’s were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MCD. Steigerwald Gordon & Koch Inc. lifted its stake in McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after purchasing an additional 33 shares during the last quarter. Riversedge Advisors LLC raised its position in shares of McDonald’s by 2.0% during the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC increased its stake in McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after purchasing an additional 35 shares in the last quarter. Clear Creek Financial Management LLC increased its stake in McDonald’s by 2.8% in the 3rd 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 in the last quarter. Finally, GDS Wealth Management lifted its stake in McDonald’s by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after buying an additional 35 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was 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 $3,036,366.30. This represents a 9.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $453,882. This represents a 49.00 % decrease in their position. 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 over the last 90 days. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. KeyCorp lifted their target price on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Truist Financial dropped their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Citigroup upgraded McDonald’s from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $311.00 to $334.00 in a report on Friday, January 10th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $321.39.

McDonald’s Trading Down 1.0 %

Shares of NYSE MCD opened at $279.56 on Friday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company has a 50-day moving average of $293.20 and a two-hundred day moving average of $286.80. The company has a market cap of $200.34 billion, a PE ratio of 24.54, a P/E/G ratio of 3.67 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm 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 business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.19 EPS. As a group, equities research analysts forecast that McDonald’s Co. will post 11.73 earnings per share 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.