Jennison Associates LLC Decreases Stock Position in McDonald’s Co. (NYSE:MCD)

Jennison Associates LLC lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 201,561 shares of the fast-food giant’s stock after selling 5,221 shares during the period. Jennison Associates LLC’s holdings in McDonald’s were worth $58,431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCD. Kennebec Savings Bank bought a new position in McDonald’s in the third quarter valued at about $1,394,000. Charles Schwab Investment Management Inc. raised its stake in McDonald’s by 0.9% during 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 acquiring an additional 49,106 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in shares of McDonald’s by 6.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after buying an additional 2,997 shares in the last quarter. PFW Advisors LLC bought a new position in shares of McDonald’s in the fourth quarter worth about $2,471,000. Finally, Weiss Asset Management LP bought a new position in McDonald’s in the 3rd quarter worth approximately $16,870,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.5 %

NYSE:MCD opened at $290.25 on Tuesday. The firm has a fifty day simple moving average of $291.12 and a 200-day simple moving average of $289.94. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The company has a market capitalization of $208.00 billion, a P/E ratio of 25.48, a PEG ratio of 3.83 and a beta of 0.73.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This trade represents a 26.05 % 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 1,099 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total value of $319,918.90. Following the completion of the transaction, the insider now directly owns 8,187 shares of the company’s stock, valued at $2,383,235.70. The trade was a 11.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,406 shares of company stock worth $2,150,857 over the last three months. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MCD has been the subject of several research reports. Loop Capital reissued a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a report on Friday, January 3rd. Barclays lifted their target price on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. TD Cowen reiterated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. BMO Capital Markets raised their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI boosted their target price on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $320.87.

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.