Sumitomo Life Insurance Co. Has $2.83 Million Stake in McDonald’s Co. (NYSE:MCD)

Sumitomo Life Insurance Co. reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 11.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,766 shares of the fast-food giant’s stock after selling 1,277 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in McDonald’s were worth $2,831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s during the 3rd quarter worth approximately $25,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McDonald’s during the 3rd quarter valued at $31,000. Hara Capital LLC acquired a new stake in McDonald’s in the third quarter worth $44,000. Peterson Financial Group Inc. bought a new stake in McDonald’s in the third quarter valued at $58,000. Finally, FSA Wealth Management LLC acquired a new position in shares of McDonald’s during the third quarter valued at about $72,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of research analyst reports. Citigroup boosted their target price on McDonald’s from $334.00 to $336.00 and gave the company a “buy” rating in a research report on Tuesday. Evercore ISI upped their target price on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Loop Capital reissued a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research report on Friday, January 3rd. TD Cowen restated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Finally, Barclays raised their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $320.87.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the transaction, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, 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 ninety days, insiders sold 8,905 shares of company stock worth $2,592,327. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 0.6 %

Shares of NYSE MCD opened at $291.48 on Wednesday. The stock has a fifty day simple moving average of $291.11 and a two-hundred day simple moving average of $288.97. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The firm has a market cap of $208.88 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. Analysts forecast that McDonald’s Co. will post 11.72 EPS 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.