McDonald’s Co. (NYSE:MCD) Stake Boosted by Thrive Wealth Management LLC

Thrive Wealth Management LLC increased its stake in McDonald’s Co. (NYSE:MCD) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,453 shares of the fast-food giant’s stock after purchasing an additional 40 shares during the period. Thrive Wealth Management LLC’s holdings in McDonald’s were worth $1,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Steigerwald Gordon & Koch Inc. boosted its holdings in shares of McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after acquiring an additional 33 shares during the period. Riversedge Advisors LLC boosted its stake in McDonald’s by 2.0% during the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC grew its position in McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after purchasing an additional 35 shares during the last quarter. Clear Creek Financial Management LLC increased its stake in shares of McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares during the period. Finally, GDS Wealth Management raised its holdings in shares of McDonald’s by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays increased their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and lowered their price target for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Evercore ISI increased their target price on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Finally, KeyCorp boosted their price target on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.39.

McDonald’s Stock Performance

NYSE MCD opened at $280.90 on Monday. The firm’s 50 day moving average price is $292.54 and its two-hundred day moving average price is $287.24. The stock has a market cap of $201.30 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 3.67 and a beta of 0.73. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating 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 firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts forecast that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $292.50, for a total value of $321,457.50. Following the completion of the sale, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,704 shares of company stock valued at $2,829,428. Corporate 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.