Gateway Investment Advisers LLC Has $51.62 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Gateway Investment Advisers LLC lifted its position in shares of McDonald’s Co. (NYSE:MCD) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 178,049 shares of the fast-food giant’s stock after purchasing an additional 6,083 shares during the quarter. Gateway Investment Advisers LLC’s holdings in McDonald’s were worth $51,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MCD. Legacy Investment Solutions LLC acquired a new stake in McDonald’s during the third quarter worth $25,000. RPg Family Wealth Advisory LLC bought a new position in shares of McDonald’s during the 3rd quarter worth about $31,000. Hara Capital LLC bought a new position in shares of McDonald’s during the 3rd quarter worth about $44,000. Peterson Financial Group Inc. acquired a new stake in shares of McDonald’s during the 3rd quarter valued at about $58,000. Finally, FSA Wealth Management LLC bought a new stake in McDonald’s in the third quarter valued at about $72,000. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s 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. The trade was a 9.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,704 shares of company stock valued at $2,829,428 over the last three months. Company insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 1.5 %

McDonald’s stock traded down $4.36 during mid-day trading on Thursday, hitting $277.94. The stock had a trading volume of 378,088 shares, compared to its average volume of 2,710,426. The stock has a market capitalization of $199.18 billion, a PE ratio of 24.40, 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. The stock has a 50-day simple moving average of $293.43 and a two-hundred day simple moving average of $286.83.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the business posted $3.19 earnings per share. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on MCD. Truist Financial cut their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Evercore ISI boosted their price target on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Robert W. Baird cut 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. Morgan Stanley lifted their price objective on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $321.39.

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.