Diversify Wealth Management LLC Buys 5,430 Shares of McDonald’s Co. (NYSE:MCD)

Diversify Wealth Management LLC grew its position in McDonald’s Co. (NYSE:MCD) by 80.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,145 shares of the fast-food giant’s stock after acquiring an additional 5,430 shares during the period. Diversify Wealth Management LLC’s holdings in McDonald’s were worth $3,429,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Kennebec Savings Bank bought a new position in McDonald’s in the third quarter valued at about $1,394,000. Charles Schwab Investment Management Inc. raised 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 valued at $1,694,403,000 after buying an additional 49,106 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position 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 buying an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC grew its holdings in McDonald’s by 6.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after acquiring an additional 2,997 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in McDonald’s in the 3rd quarter valued at approximately $16,870,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citigroup upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $311.00 to $334.00 in a report on Friday, January 10th. Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Bank of America raised their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets raised their price target on shares of 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 reduced their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.39.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $280.90 on Monday. The firm’s 50-day simple moving average is $292.54 and its 200 day simple moving average is $287.24. The stock has a market cap of $201.30 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 3.67 and a beta of 0.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last posted its earnings results 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. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter last year, the company earned $3.19 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that McDonald’s Co. will post 11.73 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the sale, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This trade represents a 9.57 % 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 three months. 0.23% of the stock is currently owned by insiders.

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.