Portside Wealth Group LLC Has $1.73 Million Stake in McDonald’s Co. (NYSE:MCD)

Portside Wealth Group LLC decreased its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,683 shares of the fast-food giant’s stock after selling 51 shares during the period. Portside Wealth Group LLC’s holdings in McDonald’s were worth $1,731,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MCD. Kennebec Savings Bank acquired a new position in shares of McDonald’s during the third quarter valued at about $1,394,000. Charles Schwab Investment Management Inc. increased its holdings in McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after purchasing an additional 49,106 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after buying an additional 51,210 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of McDonald’s by 6.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after purchasing an additional 2,997 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in McDonald’s during the third quarter worth about $16,870,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MCD. TD Cowen reaffirmed a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. The Goldman Sachs Group lifted their price objective on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Barclays upped their price target on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price target on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Baird R W downgraded 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 issued a buy rating to the company. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $321.39.

McDonald’s Stock Performance

NYSE:MCD opened at $280.90 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The stock has a market capitalization of $201.30 billion, a PE ratio of 24.66, a P/E/G ratio of 3.67 and a beta of 0.73. The company has a fifty day moving average of $292.54 and a two-hundred day moving average of $286.97.

McDonald’s (NYSE:MCD) last posted 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 net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current year.

Insider Transactions at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction dated Friday, November 1st. The stock was 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 of the company’s stock, valued at $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,704 shares of company stock valued at $2,829,428. 0.23% of the stock is currently owned by corporate insiders.

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.