Wedmont Private Capital Acquires 510 Shares of McDonald’s Co. (NYSE:MCD)

Wedmont Private Capital grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,125 shares of the fast-food giant’s stock after acquiring an additional 510 shares during the period. Wedmont Private Capital’s holdings in McDonald’s were worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kennebec Savings Bank purchased a new stake in McDonald’s in the third quarter worth about $1,394,000. Charles Schwab Investment Management Inc. increased its holdings in McDonald’s by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after acquiring an additional 49,106 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after acquiring an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in McDonald’s by 6.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after purchasing an additional 2,997 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of McDonald’s in the third quarter worth approximately $16,870,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the sale, the insider now directly owns 9,286 shares of the company’s stock, valued at $2,716,155. The trade was a 10.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,704 shares of company stock worth $2,829,428. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MCD has been the topic of several recent analyst reports. Barclays raised their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Citigroup upgraded McDonald’s from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $311.00 to $334.00 in a research report on Friday. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets boosted their price target on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial cut their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $321.39.

McDonald’s Trading Up 0.3 %

Shares of NYSE:MCD 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 company has a market capitalization of $202.95 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 3.95 and a beta of 0.73. The firm’s 50-day moving average is $293.75 and its 200 day moving average is $286.65.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the business posted $3.19 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that McDonald’s Co. will post 11.75 EPS 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.