McDonald’s Co. (NYSE:MCD) Shares Acquired by Cove Private Wealth LLC

Cove Private Wealth LLC lifted its position in shares of McDonald’s Co. (NYSE:MCD) by 4.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,657 shares of the fast-food giant’s stock after buying an additional 107 shares during the quarter. Cove Private Wealth LLC’s holdings in McDonald’s were worth $770,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MCD. Steigerwald Gordon & Koch Inc. lifted its stake in shares of McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after purchasing an additional 33 shares during the period. Riversedge Advisors LLC boosted its stake in McDonald’s by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after buying an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC grew its holdings in McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after buying an additional 35 shares during the period. Clear Creek Financial Management LLC grew its holdings in McDonald’s by 2.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after buying an additional 35 shares during the period. Finally, GDS Wealth Management increased its stake in shares of McDonald’s by 1.4% during the 3rd quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MCD. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. BMO Capital Markets boosted their price objective 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. Loop Capital reaffirmed a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research report on Friday, January 3rd. TD Cowen reissued a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research report on Tuesday, October 29th. Finally, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $321.39.

Insider Activity

In other news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,704 shares of company stock worth $2,829,428. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Up 0.4 %

MCD stock opened at $280.90 on Monday. The stock’s 50 day moving average is $292.54 and its two-hundred day moving average is $287.24. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. 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 (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (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 analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm earned $3.19 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s 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.