Astoria Portfolio Advisors LLC. Raises Stock Position in McDonald’s Co. (NYSE:MCD)

Astoria Portfolio Advisors LLC. grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 19.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,366 shares of the fast-food giant’s stock after acquiring an additional 726 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in McDonald’s were worth $1,229,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in McDonald’s by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 48,190 shares of the fast-food giant’s stock valued at $12,281,000 after buying an additional 915 shares during the period. Brighton Jones LLC increased its position in McDonald’s by 8.4% during the second quarter. Brighton Jones LLC now owns 8,291 shares of the fast-food giant’s stock valued at $2,113,000 after acquiring an additional 646 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of McDonald’s by 5.2% in the second quarter. Canada Pension Plan Investment Board now owns 684,471 shares of the fast-food giant’s stock valued at $174,431,000 after acquiring an additional 34,053 shares during the period. Boston Research & Management Inc. lifted its holdings in shares of McDonald’s by 2.4% in the 2nd quarter. Boston Research & Management Inc. now owns 24,939 shares of the fast-food giant’s stock worth $6,355,000 after acquiring an additional 592 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of McDonald’s by 10.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 195,638 shares of the fast-food giant’s stock worth $49,856,000 after purchasing an additional 17,995 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Bank of America increased their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. KeyCorp boosted their price objective on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. 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. Finally, Wedbush reissued an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research note on Wednesday, October 23rd. Ten investment 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $321.39.

Insider Buying and Selling

In other news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated 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. This trade represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,704 shares of company stock worth $2,829,428 in the last 90 days. 0.23% of the stock is owned by corporate insiders.

McDonald’s Trading Up 0.4 %

Shares of NYSE:MCD opened at $280.90 on Friday. The company has a market capitalization of $201.30 billion, a PE ratio of 24.66, a P/E/G ratio of 3.67 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. The business’s fifty day simple moving average is $292.54 and its 200-day simple moving average is $286.97.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the company posted $3.19 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Research analysts predict that McDonald’s Co. will post 11.73 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.