Norris Perne & French LLP MI Takes Position in McDonald’s Co. (NYSE:MCD)

Norris Perne & French LLP MI acquired a new position in shares of McDonald’s Co. (NYSE:MCD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 722 shares of the fast-food giant’s stock, valued at approximately $209,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s during the 3rd quarter valued at about $25,000. RPg Family Wealth Advisory LLC acquired a new position in McDonald’s during the third quarter worth approximately $31,000. Hara Capital LLC purchased a new position in McDonald’s during the third quarter worth approximately $44,000. Peterson Financial Group Inc. acquired a new position in shares of McDonald’s in the 3rd quarter valued at $58,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of McDonald’s during the 3rd quarter valued at $72,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 0.0 %

Shares of NYSE MCD opened at $290.19 on Friday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The company has a market cap of $207.96 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73. The stock’s 50 day simple moving average is $291.11 and its 200 day simple moving average is $289.24.

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

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the sale, the insider now directly owns 9,286 shares in the company, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,406 shares of company stock valued at $2,150,857. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MCD shares. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Truist Financial decreased their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Bank of America lifted their price target on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Wednesday, October 23rd. Finally, Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $320.87.

McDonald’s Company 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.