Drive Wealth Management LLC Increases Stake in McDonald’s Co. (NYSE:MCD)

Drive Wealth Management LLC grew its holdings in McDonald’s Co. (NYSE:MCD) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 2,026 shares of the fast-food giant’s stock after buying an additional 70 shares during the quarter. Drive Wealth Management LLC’s holdings in McDonald’s were worth $587,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. lifted its position in shares of McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after acquiring an additional 33 shares during the last quarter. Riversedge Advisors LLC lifted its holdings in shares of McDonald’s by 2.0% during the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC lifted its holdings in shares of McDonald’s by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after purchasing an additional 35 shares during the last quarter. Clear Creek Financial Management LLC lifted its holdings in shares of McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares during the last quarter. Finally, GDS Wealth Management lifted its holdings in shares of McDonald’s by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MCD. Wedbush reiterated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research report on Wednesday, October 23rd. Citigroup raised McDonald’s from a “neutral” rating to a “buy” rating and upped their price target for the company from $311.00 to $334.00 in a research report on Friday, January 10th. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Finally, Morgan Stanley decreased their price target on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $320.78.

McDonald’s Stock Up 0.3 %

Shares of MCD stock opened at $285.37 on Monday. The stock has a 50-day moving average price of $291.07 and a 200 day moving average price of $288.43. The firm has a market cap of $204.50 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.66 and a beta of 0.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the company earned $3.19 EPS. McDonald’s’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that McDonald’s Co. will post 11.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were 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 of the company’s stock, valued at approximately $453,882. This represents a 49.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,905 shares of company stock valued at $2,592,327 over the last three months. Company insiders own 0.23% of the company’s stock.

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.