Core Wealth Management Inc. Sells 121 Shares of McDonald’s Co. (NYSE:MCD)

Core Wealth Management Inc. lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 3.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,098 shares of the fast-food giant’s stock after selling 121 shares during the quarter. McDonald’s comprises approximately 0.4% of Core Wealth Management Inc.’s holdings, making the stock its 10th largest holding. Core Wealth Management Inc.’s holdings in McDonald’s were worth $898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of McDonald’s by 31,151.1% during the third 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 acquiring an additional 2,311,721 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in McDonald’s by 542.9% during the 3rd 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 in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in McDonald’s during the 3rd quarter worth approximately $121,254,000. Zurich Insurance Group Ltd FI raised its position in shares of McDonald’s by 3,580.1% in the 3rd 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 in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of McDonald’s during the 4th quarter valued at approximately $64,805,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

NYSE:MCD opened at $290.19 on Friday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The business has a fifty day moving average of $291.11 and a 200-day moving average of $289.24. The stock has a market cap of $207.96 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 3.85 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $3.19 EPS. On average, equities research analysts predict that McDonald’s Co. will post 11.68 EPS for the current year.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction dated Thursday, January 2nd. The stock was 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 represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,406 shares of company stock worth $2,150,857 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. UBS Group lifted their price target on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. KeyCorp reduced their price target on shares of McDonald’s from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Wedbush reissued an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Barclays increased their target price on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets boosted their price target on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average target price of $320.87.

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.