Segment Wealth Management LLC Sells 101 Shares of McDonald’s Co. (NYSE:MCD)

Segment Wealth Management LLC reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,735 shares of the fast-food giant’s stock after selling 101 shares during the quarter. McDonald’s makes up about 1.1% of Segment Wealth Management LLC’s portfolio, making the stock its 28th biggest holding. Segment Wealth Management LLC’s holdings in McDonald’s were worth $15,577,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MCD. International Assets Investment Management LLC boosted its position in McDonald’s by 31,151.1% during 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 lifted its stake in shares of McDonald’s by 542.9% during 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 last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of McDonald’s during the 3rd quarter worth about $121,254,000. Ameriprise Financial Inc. grew its stake 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 last quarter. Finally, Zurich Insurance Group Ltd FI raised its holdings 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 valued at $81,807,000 after acquiring an additional 261,350 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

Shares of MCD opened at $280.90 on Tuesday. The stock has a market capitalization of $201.30 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 3.65 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 fifty day moving average of $292.54 and a 200-day moving average of $287.50.

McDonald’s (NYSE:MCD) last announced its quarterly 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 period last year, the firm posted $3.19 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that McDonald’s Co. will post 11.73 EPS for the current year.

Insider Buying and Selling

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now directly owns 9,675 shares in the company, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $453,882. This represents a 49.00 % decrease in their ownership of the stock. 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 in the last ninety days. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MCD shares. Morgan Stanley upped their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group upped their price objective on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Bank of America boosted their target price on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial cut their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target 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.