Meyer Handelman Co. Sells 2,294 Shares of McDonald’s Co. (NYSE:MCD)

Meyer Handelman Co. decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,595 shares of the fast-food giant’s stock after selling 2,294 shares during the period. Meyer Handelman Co.’s holdings in McDonald’s were worth $31,191,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Steigerwald Gordon & Koch Inc. boosted its holdings in McDonald’s by 2.4% in the third 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 in the last quarter. Riversedge Advisors LLC boosted its stake in shares of McDonald’s by 2.0% during the 3rd 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 in the last quarter. Proquility Private Wealth Partners LLC increased its position 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 buying an additional 35 shares during the period. Clear Creek Financial Management LLC raised its stake in McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after buying an additional 35 shares in the last quarter. Finally, GDS Wealth Management lifted its holdings in McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after buying an additional 35 shares during the period. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCD. Loop Capital reissued a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research report on Friday, January 3rd. BMO Capital Markets increased their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. TD Cowen reaffirmed a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research report on Tuesday, October 29th. Barclays lifted their price target on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI increased their target price on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $321.39.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’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 transaction, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. The trade was a 9.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,704 shares of company stock valued at $2,829,428 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $281.40 on Wednesday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company’s fifty day simple moving average is $293.43 and its 200-day simple moving average is $286.83. The stock has a market capitalization of $201.66 billion, a PE ratio of 24.71, a P/E/G ratio of 3.95 and a beta of 0.73.

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

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.