International Assets Investment Management LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 99.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,696 shares of the fast-food giant’s stock after selling 2,311,446 shares during the period. International Assets Investment Management LLC’s holdings in McDonald’s were worth $2,251,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of McDonald’s by 542.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock valued at $244,174,000 after acquiring an additional 677,139 shares in the last quarter. Mondrian Investment Partners LTD acquired a new stake in McDonald’s during the second quarter valued at $110,321,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in McDonald’s in the third quarter valued at about $121,254,000. Ameriprise Financial Inc. increased its position in McDonald’s by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after purchasing an additional 354,196 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in shares of McDonald’s by 3,846.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 273,640 shares of the fast-food giant’s stock worth $69,734,000 after purchasing an additional 266,707 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.
Insider Transactions at McDonald’s
In other 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 value of $436,134.05. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. This represents a 49.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,050 shares of company stock valued at $3,556,688. Company insiders own 0.23% of the company’s stock.
McDonald’s Stock Down 0.9 %
McDonald’s (NYSE:MCD – Get Free Report) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS 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 business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the company posted $3.19 earnings per share. McDonald’s’s revenue was up 2.7% on a year-over-year basis. On average, analysts expect that McDonald’s Co. will post 11.75 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Wells Fargo & Company increased their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. TD Cowen reissued a “hold” rating and set a $300.00 target price on shares of McDonald’s in a research report on Tuesday, October 29th. Finally, Citigroup boosted their price target on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $320.65.
Check Out Our Latest Analysis on McDonald’s
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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