Capital Investment Counsel LLC Makes New $374,000 Investment in McDonald’s Co. (NYSE:MCD)

Capital Investment Counsel LLC acquired a new position in shares of McDonald’s Co. (NYSE:MCD) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,291 shares of the fast-food giant’s stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in shares of McDonald’s by 31,151.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of McDonald’s by 542.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after purchasing an additional 677,139 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of McDonald’s during the third quarter worth about $121,254,000. Zurich Insurance Group Ltd FI lifted its holdings in shares of McDonald’s by 3,580.1% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock valued at $81,807,000 after purchasing an additional 261,350 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in McDonald’s during the 4th quarter worth approximately $64,805,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MCD. Citigroup increased their price objective on McDonald’s from $334.00 to $336.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. TD Cowen restated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Truist Financial decreased their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research note on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.87.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $291.48 on Wednesday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The business’s fifty day moving average price is $291.11 and its two-hundred day moving average price is $288.97. The stock has a market cap of $208.88 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its 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 company had revenue of $6.87 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.19 EPS. As a group, equities research analysts predict that McDonald’s Co. will post 11.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,499 shares of the firm’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 sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This trade represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,905 shares of company stock worth $2,592,327. 0.23% of the stock is owned by insiders.

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.