Community Trust & Investment Co. Boosts Stock Position in McDonald’s Co. (NYSE:MCD)

Community Trust & Investment Co. raised its position in McDonald’s Co. (NYSE:MCD) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,672 shares of the fast-food giant’s stock after purchasing an additional 429 shares during the period. Community Trust & Investment Co.’s holdings in McDonald’s were worth $3,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Steigerwald Gordon & Koch Inc. boosted its position in McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after acquiring an additional 33 shares during the last quarter. Riversedge Advisors LLC lifted its stake in shares of McDonald’s by 2.0% during the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC boosted its holdings in shares of McDonald’s by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after purchasing an additional 35 shares during the last quarter. Clear Creek Financial Management LLC grew its position in shares of McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares during the period. Finally, GDS Wealth Management increased its stake in McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This represents a 9.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value 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. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,704 shares of company stock worth $2,829,428. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Down 0.8 %

Shares of NYSE MCD opened at $281.40 on Wednesday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The business has a 50 day moving average price of $293.43 and a two-hundred day moving average price of $286.83. The firm has a market cap of $201.66 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.19 earnings per share. On average, analysts anticipate that McDonald’s Co. will post 11.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on MCD. Morgan Stanley lifted their price target on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Truist Financial lowered their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. The Goldman Sachs Group lifted their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $321.39.

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.