Diamant Asset Management Inc. Grows Stake in McDonald’s Co. (NYSE:MCD)

Diamant Asset Management Inc. lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,604 shares of the fast-food giant’s stock after purchasing an additional 60 shares during the period. McDonald’s accounts for 1.8% of Diamant Asset Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Diamant Asset Management Inc.’s holdings in McDonald’s were worth $2,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in McDonald’s by 542.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock valued at $244,174,000 after purchasing an additional 677,139 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of McDonald’s in the third quarter worth about $121,254,000. Zurich Insurance Group Ltd FI raised its position in shares of McDonald’s by 3,580.1% in the third quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock valued at $81,807,000 after purchasing an additional 261,350 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of McDonald’s during the 4th quarter valued at approximately $64,805,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $293.16 on Tuesday. The stock’s 50-day moving average is $291.07 and its 200 day moving average is $288.70. The company has a market cap of $210.08 billion, a PE ratio of 25.74, a P/E/G ratio of 3.66 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last announced 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. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 earnings per share. Analysts expect that McDonald’s Co. will post 11.72 EPS for the current fiscal year.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This trade represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,905 shares of company stock valued at $2,592,327. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MCD. Wedbush restated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Loop Capital reissued a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. Truist Financial reduced their price objective 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. Finally, KeyCorp lowered their target price on shares of McDonald’s from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $320.78.

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.