Code Waechter LLC Reduces Stock Position in McDonald’s Co. (NYSE:MCD)

Code Waechter LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 937 shares of the fast-food giant’s stock after selling 48 shares during the period. Code Waechter LLC’s holdings in McDonald’s were worth $272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cullen Investment Group LTD. boosted its position in McDonald’s by 7.2% in the fourth quarter. Cullen Investment Group LTD. now owns 2,331 shares of the fast-food giant’s stock worth $676,000 after purchasing an additional 156 shares during the last quarter. Exeter Financial LLC lifted its stake in shares of McDonald’s by 1.2% in the 4th quarter. Exeter Financial LLC now owns 17,871 shares of the fast-food giant’s stock worth $5,181,000 after purchasing an additional 215 shares during the period. Tealwood Asset Management Inc. boosted its holdings in shares of McDonald’s by 1.4% in the fourth quarter. Tealwood Asset Management Inc. now owns 8,083 shares of the fast-food giant’s stock worth $2,343,000 after buying an additional 111 shares during the last quarter. Grandview Asset Management LLC bought a new stake in McDonald’s during the fourth quarter valued at approximately $265,000. Finally, Traveka Wealth LLC increased its holdings in McDonald’s by 28.4% during the fourth quarter. Traveka Wealth LLC now owns 1,728 shares of the fast-food giant’s stock valued at $501,000 after buying an additional 382 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the transaction, the executive vice president now directly owns 9,675 shares in the company, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction 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 owns 1,560 shares of the company’s stock, valued at $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,704 shares of company stock valued at $2,829,428 in the last quarter. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Morgan Stanley upped 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. Barclays lifted their price objective on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Loop Capital restated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. Finally, Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $321.39.

McDonald’s Trading Up 0.3 %

McDonald’s stock opened at $283.20 on Tuesday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm has a 50-day moving average price of $293.75 and a 200-day moving average price of $286.65. The firm has a market capitalization of $202.95 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $3.19 earnings per share. As a group, sell-side analysts predict that McDonald’s Co. will post 11.75 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.