Everence Capital Management Inc. Trims Holdings in McDonald’s Co. (NYSE:MCD)

Everence Capital Management Inc. lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 11.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,127 shares of the fast-food giant’s stock after selling 2,260 shares during the period. Everence Capital Management Inc.’s holdings in McDonald’s were worth $4,965,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kennebec Savings Bank purchased a new stake in shares of McDonald’s during the third quarter worth about $1,394,000. Charles Schwab Investment Management Inc. boosted its stake in McDonald’s by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after purchasing an additional 49,106 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after buying an additional 51,210 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after buying an additional 2,997 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of McDonald’s during the third quarter worth $16,870,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Up 0.3 %

Shares of NYSE MCD traded up $0.98 during mid-day trading on Friday, reaching $293.49. 652,195 shares of the company were exchanged, compared to its average volume of 1,834,661. The firm has a 50-day moving average of $294.57 and a 200 day moving average of $284.66. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The stock has a market cap of $210.32 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 3.95 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $3.19 EPS. On average, equities analysts forecast that McDonald’s Co. will post 11.75 earnings per share for the current year.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This trade represents a 49.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. This represents a 44.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,551 shares of company stock worth $3,120,554 over the last three months. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MCD. Morgan Stanley boosted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial dropped their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Barclays raised their target price on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.65.

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.