Innova Wealth Partners Takes Position in McDonald’s Co. (NYSE:MCD)

Innova Wealth Partners acquired a new position in shares of McDonald’s Co. (NYSE:MCD) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 834 shares of the fast-food giant’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCD. International Assets Investment Management LLC grew its stake in shares of McDonald’s by 31,151.1% during the third 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 during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of McDonald’s by 542.9% during the 3rd 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 acquiring an additional 677,139 shares during the last quarter. Mondrian Investment Partners LTD purchased a new position in McDonald’s during the 2nd quarter valued at $110,321,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in McDonald’s in the third quarter worth $121,254,000. Finally, Ameriprise Financial Inc. lifted its position in shares of McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after purchasing an additional 354,196 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Down 1.0 %

NYSE:MCD opened at $289.38 on Wednesday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a market cap of $207.38 billion, a PE ratio of 25.41, a P/E/G ratio of 3.95 and a beta of 0.73. The company’s 50 day moving average is $294.40 and its two-hundred day moving average is $285.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share 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 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 business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.19 earnings per share. As a group, analysts expect that McDonald’s Co. will post 11.75 EPS for the current fiscal year.

Insider Activity

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. This trade represents a 44.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the sale, the executive vice president now directly owns 9,675 shares in the company, valued at $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,050 shares of company stock valued at $3,556,688. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. 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 research note on Wednesday, October 30th. Loop Capital reiterated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. TD Cowen reiterated a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Finally, Morgan Stanley increased their price target on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $320.65.

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.