McDonald’s Co. (NYSE:MCD) Position Trimmed by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC reduced its holdings in McDonald’s Co. (NYSE:MCD) by 10.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,282 shares of the fast-food giant’s stock after selling 882 shares during the quarter. Lake Street Private Wealth LLC’s holdings in McDonald’s were worth $2,111,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kennebec Savings Bank acquired a new position in McDonald’s in the third quarter valued at approximately $1,394,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of McDonald’s by 0.9% in 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 purchasing an additional 49,106 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after purchasing an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in 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 worth $14,978,000 after buying an additional 2,997 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in McDonald’s in the third quarter worth $16,870,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This trade represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This trade represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,704 shares of company stock worth $2,829,428. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MCD has been the subject of several analyst reports. TD Cowen reissued a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. BMO Capital Markets raised their price target on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Bank of America increased their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays lifted their target price on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $321.39.

McDonald’s Price Performance

Shares of MCD opened at $280.90 on Friday. The stock has a market cap of $201.30 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 3.67 and a beta of 0.73. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company has a 50-day moving average of $292.90 and a two-hundred day moving average of $286.75.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the company earned $3.19 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts anticipate that McDonald’s Co. will post 11.73 earnings per share 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.