Monterey Private Wealth Inc. Has $440,000 Stake in McDonald’s Co. (NYSE:MCD)

Monterey Private Wealth Inc. grew its position in McDonald’s Co. (NYSE:MCD) by 11.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,519 shares of the fast-food giant’s stock after buying an additional 152 shares during the quarter. Monterey Private Wealth Inc.’s holdings in McDonald’s were worth $440,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in McDonald’s by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after acquiring an additional 220,365 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of McDonald’s by 0.9% in the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after purchasing an additional 128,800 shares during the last quarter. Legal & General Group Plc lifted its position in shares of McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in McDonald’s by 0.9% during the third 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 last quarter. Finally, Ameriprise Financial Inc. grew its position in McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on MCD. Bank of America boosted their price target on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. TD Cowen reaffirmed a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research report on Tuesday, October 29th. Truist Financial cut their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Morgan Stanley lowered their target price on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $321.22.

McDonald’s Price Performance

MCD stock opened at $282.85 on Wednesday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The stock has a market capitalization of $202.69 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 3.65 and a beta of 0.73. The business’s fifty day moving average price is $292.12 and its two-hundred day moving average price is $287.72.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $3.19 earnings per share. Research analysts expect that McDonald’s Co. will post 11.73 EPS for the current year.

Insider Transactions at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This trade represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,605 shares of company stock valued at $2,508,102. 0.23% of the stock is currently owned by company insiders.

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.