Enterprise Bank & Trust Co Buys 204 Shares of McDonald’s Co. (NYSE:MCD)

Enterprise Bank & Trust Co increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,480 shares of the fast-food giant’s stock after purchasing an additional 204 shares during the quarter. Enterprise Bank & Trust Co’s holdings in McDonald’s were worth $2,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCD. Legacy Investment Solutions LLC bought a new stake in shares of McDonald’s in the 3rd quarter worth about $25,000. RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s in the 3rd quarter worth about $31,000. Hara Capital LLC bought a new stake in McDonald’s in the third quarter worth about $44,000. Peterson Financial Group Inc. purchased a new position in shares of McDonald’s during the third quarter valued at approximately $58,000. Finally, FSA Wealth Management LLC bought a new position in shares of McDonald’s during the third quarter valued at approximately $72,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock traded up $1.66 during trading hours on Monday, hitting $283.97. 1,500,122 shares of the stock traded hands, compared to its average volume of 2,812,864. The firm’s 50 day moving average price is $293.94 and its 200-day moving average price is $286.47. The stock has a market capitalization of $203.50 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 3.95 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. The firm had revenue of $6.87 billion for 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%. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.19 earnings per share. Research analysts forecast that McDonald’s Co. will post 11.75 earnings per share for the current fiscal year.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the sale, the executive vice president now owns 9,675 shares in the company, valued at approximately $2,807,201.25. This trade represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,704 shares of company stock worth $2,829,428. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial cut their price target 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. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research report on Wednesday, October 23rd. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $321.39.

McDonald’s 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.