Encompass More Asset Management Purchases 169 Shares of McDonald’s Co. (NYSE:MCD)

Encompass More Asset Management lifted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 6.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,711 shares of the fast-food giant’s stock after acquiring an additional 169 shares during the period. Encompass More Asset Management’s holdings in McDonald’s were worth $786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of MCD. Legacy Investment Solutions LLC purchased a new position in McDonald’s in the third quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in shares of McDonald’s during the 3rd quarter worth $31,000. Hara Capital LLC purchased a new stake in McDonald’s during the third quarter valued at about $44,000. Peterson Financial Group Inc. bought a new position in McDonald’s during the third quarter worth about $58,000. Finally, FSA Wealth Management LLC purchased a new position in shares of McDonald’s in the third quarter worth about $72,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Down 0.0 %

Shares of MCD opened at $284.37 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The business’s fifty day simple moving average is $291.49 and its two-hundred day simple moving average is $287.90. The company has a market cap of $203.78 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 3.66 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping 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 business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm earned $3.19 EPS. McDonald’s’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that McDonald’s Co. will post 11.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MCD. UBS Group raised their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Truist Financial reduced their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Baird R W cut McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Finally, Citigroup upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and raised their price objective for the company from $311.00 to $334.00 in a research report on Friday, January 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $321.22.

Insider Transactions at McDonald’s

In other news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $453,882. This trade represents a 49.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $291.10, for a total value of $319,918.90. Following the completion of the sale, the insider now owns 8,187 shares of the company’s stock, valued at approximately $2,383,235.70. The trade was a 11.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,605 shares of company stock worth $2,508,102 in the last ninety days. Insiders own 0.23% of the company’s stock.

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.