McDonald’s Co. (NYSE:MCD) Shares Bought by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC lifted its position in shares of McDonald’s Co. (NYSE:MCD) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,344 shares of the fast-food giant’s stock after acquiring an additional 70 shares during the period. Prestige Wealth Management Group LLC’s holdings in McDonald’s were worth $992,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Signature Resources Capital Management LLC acquired a new position in McDonald’s during the 4th quarter valued at approximately $31,000. Spartan Planning & Wealth Management acquired a new position in shares of McDonald’s during the third quarter valued at $33,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of McDonald’s during the fourth quarter worth about $39,000. Keener Financial Planning LLC bought a new position in shares of McDonald’s during the fourth quarter worth about $39,000. Finally, Bear Mountain Capital Inc. acquired a new stake in shares of McDonald’s in the 4th quarter worth about $43,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. Insiders have sold a total of 2,997 shares of company stock valued at $836,300 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup decreased their target price on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Barclays lowered their target price on McDonald’s from $343.00 to $340.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. BTIG Research lowered McDonald’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Wedbush lowered their price target on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Finally, Stifel Nicolaus reduced their price objective on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $317.74.

McDonald’s Price Performance

Shares of MCD traded down $1.13 during trading hours on Friday, hitting $272.38. 2,454,570 shares of the company were exchanged, compared to its average volume of 3,564,655. The firm has a fifty day simple moving average of $275.14 and a 200-day simple moving average of $283.50. The company has a market capitalization of $196.30 billion, a PE ratio of 23.12, a PEG ratio of 3.05 and a beta of 0.71. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.63 EPS. Sell-side analysts expect that McDonald’s Co. will post 12.17 EPS for the current year.

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.