Addenda Capital Inc. Decreases Stake in McDonald’s Co. (NYSE:MCD)

Addenda Capital Inc. decreased its position in McDonald’s Co. (NYSE:MCD) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,357 shares of the fast-food giant’s stock after selling 63 shares during the period. Addenda Capital Inc.’s holdings in McDonald’s were worth $6,481,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Bank of America upped their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays increased their price target on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. KeyCorp increased their price target on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Finally, TD Cowen reiterated a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Ten 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 presently has a consensus rating of “Moderate Buy” and an average target price of $321.39.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were 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 owns 1,560 shares in the company, valued at $459,435.60. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,704 shares of company stock worth $2,829,428 in the last 90 days. 0.23% of the stock is owned by company insiders.

McDonald’s Trading Up 0.4 %

Shares of McDonald’s stock opened at $280.90 on Tuesday. The stock has a 50-day moving average price of $292.54 and a 200 day moving average price of $287.50. The company has a market cap of $201.30 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.65 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.19 EPS. On average, equities analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

About McDonald’s

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.