Jericho Financial LLP Acquires New Position in McDonald’s Co. (NYSE:MCD)

Jericho Financial LLP bought a new position in shares of McDonald’s Co. (NYSE:MCD) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 12,993 shares of the fast-food giant’s stock, valued at approximately $3,767,000. McDonald’s comprises 2.7% of Jericho Financial LLP’s holdings, making the stock its 18th largest holding.

Several other hedge funds also recently made changes to their positions in MCD. Legacy Investment Solutions LLC bought a new stake in McDonald’s during the third quarter valued at $25,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McDonald’s during the 3rd quarter valued at about $31,000. Hara Capital LLC acquired a new stake in McDonald’s during the third quarter worth about $44,000. Financial Life Planners acquired a new stake in McDonald’s during the fourth quarter worth about $49,000. Finally, Peterson Financial Group Inc. bought a new position in McDonald’s in the third quarter worth about $58,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the sale, the executive vice president now 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 filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the transaction, the insider now owns 9,286 shares in the company, valued at $2,716,155. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,406 shares of company stock valued at $2,150,857 over the last three months. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MCD. Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $320.00 to $290.00 in a research 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 research report on Tuesday, October 22nd. Evercore ISI boosted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their target price for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, Wedbush restated an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research note on Wednesday, October 23rd. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.58.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $290.00 on Wednesday. The company has a market capitalization of $207.82 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.83 and a beta of 0.74. The stock has a fifty day moving average of $291.00 and a 200-day moving average of $290.15. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s Company 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.