Raymond James Trust N.A. lessened its holdings in McDonald’s Co. (NYSE:MCD) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,192 shares of the fast-food giant’s stock after selling 2,950 shares during the quarter. Raymond James Trust N.A.’s holdings in McDonald’s were worth $10,770,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Magellan Asset Management Ltd raised its stake in McDonald’s by 0.6% during the 3rd quarter. Magellan Asset Management Ltd now owns 5,748,397 shares of the fast-food giant’s stock worth $1,261,716,000 after acquiring an additional 34,270 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of McDonald’s by 1.8% during the third quarter. California Public Employees Retirement System now owns 4,539,426 shares of the fast-food giant’s stock worth $996,359,000 after purchasing an additional 80,602 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of McDonald’s by 3.6% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,639,959 shares of the fast-food giant’s stock worth $579,445,000 after acquiring an additional 90,761 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of McDonald’s by 80.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,402,059 shares of the fast-food giant’s stock worth $307,738,000 after buying an additional 625,506 shares in the last quarter. Finally, Banque Pictet & Cie SA lifted its holdings in shares of McDonald’s by 1.1% in the 3rd quarter. Banque Pictet & Cie SA now owns 1,385,706 shares of the fast-food giant’s stock valued at $304,149,000 after buying an additional 15,278 shares during the period. 57.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of MCD stock traded up $0.49 during midday trading on Wednesday, hitting $212.09. 1,994,887 shares of the company were exchanged, compared to its average volume of 2,882,884. McDonald’s Co. has a 52 week low of $124.23 and a 52 week high of $231.91. The firm’s 50 day moving average price is $212.99 and its two-hundred day moving average price is $210.88. The firm has a market capitalization of $158.03 billion, a P/E ratio of 32.38, a PEG ratio of 4.13 and a beta of 0.58.
McDonald’s (NYSE:MCD) last issued its earnings results on Saturday, November 14th. The fast-food giant reported $2.22 EPS for the quarter, beating the consensus estimate of $1.90 by $0.32. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.37 billion. McDonald’s had a net margin of 25.60% and a negative return on equity of 53.62%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.11 EPS. As a group, equities research analysts predict that McDonald’s Co. will post 6.2 earnings per share for the current fiscal year.
MCD has been the topic of a number of research analyst reports. BTIG Research boosted their target price on McDonald’s from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, October 9th. Telsey Advisory Group raised their target price on shares of McDonald’s from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, November 2nd. Northcoast Research assumed coverage on shares of McDonald’s in a research note on Friday, December 18th. They issued a “buy” rating and a $266.00 target price for the company. Morgan Stanley lifted their price target on shares of McDonald’s from $208.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of McDonald’s from $185.00 to $230.00 and gave the company a “hold” rating in a report on Monday, November 16th. Eight equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $231.26.
In other news, EVP Francesca A. Debiase sold 21,930 shares of the business’s stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $215.62, for a total value of $4,728,546.60. Following the transaction, the executive vice president now owns 23,048 shares in the company, valued at approximately $4,969,609.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 7,377 shares of the stock in a transaction on Monday, November 16th. The shares were sold at an average price of $215.59, for a total value of $1,590,407.43. Following the transaction, the insider now directly owns 15,564 shares of the company’s stock, valued at $3,355,442.76. The disclosure for this sale can be found here. Insiders have sold a total of 33,456 shares of company stock worth $7,214,101 over the last ninety days. Company insiders own 0.25% of the company’s stock.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products and beverages, as well as breakfast menu. As of December 31, 2019, the company operated 38,695 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.
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