InTrack Investment Management Inc Acquires 2,368 Shares of McDonald’s Co. (NYSE:MCD)

InTrack Investment Management Inc boosted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 63.3% in the fourth quarter, Holdings Channel reports. The firm owned 6,109 shares of the fast-food giant’s stock after purchasing an additional 2,368 shares during the quarter. McDonald’s comprises about 1.2% of InTrack Investment Management Inc’s portfolio, making the stock its 26th biggest holding. InTrack Investment Management Inc’s holdings in McDonald’s were worth $1,720,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in McDonald’s by 1.9% during the second quarter. American Century Companies Inc. now owns 48,190 shares of the fast-food giant’s stock worth $12,281,000 after acquiring an additional 915 shares in the last quarter. Brighton Jones LLC increased its position in shares of McDonald’s by 8.4% during the 2nd quarter. Brighton Jones LLC now owns 8,291 shares of the fast-food giant’s stock worth $2,113,000 after purchasing an additional 646 shares in the last quarter. Trust Investment Advisors bought a new position in McDonald’s during the 2nd quarter valued at about $328,000. Wealth Advisors of Tampa Bay LLC boosted its position in McDonald’s by 12.1% in the second quarter. Wealth Advisors of Tampa Bay LLC now owns 17,446 shares of the fast-food giant’s stock valued at $4,446,000 after buying an additional 1,880 shares in the last quarter. Finally, Retirement Investment Advisors Inc. bought a new stake in McDonald’s during the second quarter worth about $248,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MCD shares. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. BMO Capital Markets increased their target price on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Bank of America raised their target price on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.39.

McDonald’s Stock Up 0.4 %

MCD opened at $280.90 on Friday. The company has a fifty day simple moving average of $292.90 and a 200 day simple moving average of $286.75. The stock has a market cap of $201.30 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.67 and a beta of 0.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the company earned $3.19 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. This trade represents a 9.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the sale, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. The trade was a 26.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,704 shares of company stock worth $2,829,428. Company insiders own 0.23% of the company’s stock.

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.