First Manhattan CO. LLC. Sells 9,603 Shares of McDonald’s Co. (NYSE:MCD)

First Manhattan CO. LLC. decreased its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 654,476 shares of the fast-food giant’s stock after selling 9,603 shares during the period. First Manhattan CO. LLC. owned approximately 0.09% of McDonald’s worth $190,090,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Atala Financial Inc acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA acquired a new stake in McDonald’s in the fourth quarter valued at about $27,000. Collier Financial acquired a new position in McDonald’s during the 4th quarter worth approximately $29,000. Fairway Wealth LLC increased its holdings in McDonald’s by 110.0% in the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of McDonald’s during the fourth quarter worth $30,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Down 1.4 %

McDonald’s stock opened at $313.61 on Friday. The stock has a market cap of $224.26 billion, a PE ratio of 27.53, a P/E/G ratio of 3.10 and a beta of 0.57. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The business’s 50-day moving average price is $309.93 and its two-hundred day moving average price is $300.12.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting the consensus estimate of $2.67. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. During the same quarter last year, the firm earned $2.70 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current year.

Insiders Place Their Bets

In other McDonald’s news, CMO Edith Morgan Flatley sold 3,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $300.76, for a total value of $962,432.00. Following the completion of the transaction, the chief marketing officer now directly owns 9,858 shares of the company’s stock, valued at approximately $2,964,892.08. The trade was a 24.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $305.00, for a total value of $286,395.00. Following the completion of the sale, the insider now directly owns 13,978 shares in the company, valued at $4,263,290. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,136 shares of company stock worth $8,676,247 over the last three months. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays boosted their price target on shares of McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Citigroup increased their price target on shares of McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Erste Group Bank raised McDonald’s from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. BMO Capital Markets reaffirmed an “outperform” rating and set a $345.00 target price (up previously from $340.00) on shares of McDonald’s in a research note on Monday. Finally, Piper Sandler lifted their target price on shares of McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Eleven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.91.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.