Cullen Investment Group LTD. grew its stake in McDonald’s Co. (NYSE:MCD – Free Report) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,331 shares of the fast-food giant’s stock after purchasing an additional 156 shares during the period. Cullen Investment Group LTD.’s holdings in McDonald’s were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of MCD. Exeter Financial LLC raised its holdings in McDonald’s by 1.2% during 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 last quarter. Tealwood Asset Management Inc. raised its stake 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 purchasing an additional 111 shares during the last quarter. Grandview Asset Management LLC purchased a new stake in shares of McDonald’s in the fourth quarter valued at about $265,000. Traveka Wealth LLC increased its position in shares of 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 acquiring an additional 382 shares during the last quarter. Finally, Unique Wealth LLC boosted its holdings in shares of McDonald’s by 3.3% in the 4th quarter. Unique Wealth LLC now owns 3,470 shares of the fast-food giant’s stock worth $1,006,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.
McDonald’s Stock Performance
NYSE:MCD opened at $283.20 on Tuesday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm has a market cap 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. The business has a 50 day moving average price of $293.75 and a 200-day moving average price of $286.65.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. 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 note on Tuesday, October 15th. Loop Capital reaffirmed a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. Barclays lifted their price objective on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Truist Financial decreased their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $321.39.
Read Our Latest Stock Report on MCD
Insider Buying and Selling at McDonald’s
In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This represents a 9.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’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 of the company’s stock, valued at $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,704 shares of company stock worth $2,829,428. 0.23% of the stock is owned by corporate insiders.
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.
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