Edge Wealth Management LLC Decreases Stock Holdings in McDonald’s Co. (NYSE:MCD)

Edge Wealth Management LLC lowered its position in McDonald’s Co. (NYSE:MCD) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,671 shares of the fast-food giant’s stock after selling 337 shares during the period. McDonald’s makes up about 1.4% of Edge Wealth Management LLC’s portfolio, making the stock its 25th largest position. Edge Wealth Management LLC’s holdings in McDonald’s were worth $7,152,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Cohen Investment Advisors LLC boosted its stake in McDonald’s by 1.9% in the fourth quarter. Cohen Investment Advisors LLC now owns 10,240 shares of the fast-food giant’s stock valued at $2,968,000 after acquiring an additional 191 shares in the last quarter. Ullmann Wealth Partners Group LLC lifted its holdings in shares of McDonald’s by 17.6% during the 4th quarter. Ullmann Wealth Partners Group LLC now owns 1,767 shares of the fast-food giant’s stock valued at $512,000 after purchasing an additional 264 shares during the last quarter. JGP Wealth Management LLC boosted its position in shares of McDonald’s by 2.0% in the 4th quarter. JGP Wealth Management LLC now owns 7,688 shares of the fast-food giant’s stock worth $2,229,000 after purchasing an additional 148 shares in the last quarter. Ritholtz Wealth Management grew its stake in McDonald’s by 6.7% during the 4th quarter. Ritholtz Wealth Management now owns 13,250 shares of the fast-food giant’s stock worth $3,841,000 after buying an additional 832 shares during the last quarter. Finally, Carnegie Investment Counsel increased its position in McDonald’s by 44.3% during the 4th quarter. Carnegie Investment Counsel now owns 47,085 shares of the fast-food giant’s stock valued at $13,650,000 after buying an additional 14,448 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 1.0 %

NYSE:MCD opened at $279.56 on Friday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The stock’s 50-day moving average price is $293.20 and its 200-day moving average price is $286.80. The stock has a market capitalization of $200.34 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 3.67 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its quarterly 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. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.19 EPS. Sell-side analysts expect that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $453,882. This trade represents a 49.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the sale, the insider now directly owns 9,286 shares of the company’s stock, valued at $2,716,155. The trade was a 10.58 % 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. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of a number of research analyst reports. Loop Capital restated a “buy” rating and set a $342.00 price target on shares of McDonald’s in a research note on Friday, January 3rd. Barclays boosted their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Bank of America raised their price target on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their target price on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $321.39.

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.