Concord Wealth Partners Grows Position in McDonald’s Co. (NYSE:MCD)

Concord Wealth Partners raised its position in shares of McDonald’s Co. (NYSE:MCD) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,525 shares of the fast-food giant’s stock after acquiring an additional 79 shares during the period. Concord Wealth Partners’ holdings in McDonald’s were worth $2,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in McDonald’s by 1.4% during the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after purchasing an additional 220,365 shares in the last quarter. Wellington Management Group LLP raised its position in shares of McDonald’s by 0.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after buying an additional 128,800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 acquiring an additional 49,106 shares during the last quarter. Janus Henderson Group PLC grew its position in McDonald’s by 0.7% in the third quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock worth $841,966,000 after acquiring an additional 19,867 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after acquiring an additional 2,311,721 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

Shares of MCD opened at $288.83 on Friday. The company has a 50 day moving average price of $291.12 and a 200-day moving average price of $289.51. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The stock has a market capitalization of $206.98 billion, a PE ratio of 25.36, a PEG ratio of 3.85 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 EPS. Equities research analysts forecast that McDonald’s Co. will post 11.68 EPS for the current year.

Analysts Set New Price Targets

MCD has been the subject of several analyst reports. Evercore ISI raised their price objective on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Wells Fargo & Company lifted their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley reduced their target price on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Barclays raised their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Truist Financial cut their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $320.87.

Insider Activity at McDonald’s

In other news, 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 transaction of $436,134.05. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $453,882. This represents a 49.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the transaction, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,406 shares of company stock valued at $2,150,857 over the last quarter. 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.