Sax Wealth Advisors LLC Has $6.87 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Sax Wealth Advisors LLC boosted its position in shares of McDonald’s Co. (NYSE:MCD) by 6.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,702 shares of the fast-food giant’s stock after purchasing an additional 1,436 shares during the quarter. McDonald’s comprises 0.5% of Sax Wealth Advisors LLC’s holdings, making the stock its 28th biggest position. Sax Wealth Advisors LLC’s holdings in McDonald’s were worth $6,871,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MCD. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the 3rd quarter worth $25,000. RPg Family Wealth Advisory LLC acquired a new position in McDonald’s in the third quarter valued at about $31,000. Hara Capital LLC bought a new position in McDonald’s during the third quarter worth about $44,000. Peterson Financial Group Inc. acquired a new position in shares of McDonald’s during the 3rd quarter worth about $58,000. Finally, FSA Wealth Management LLC bought a new stake in shares of McDonald’s in the 3rd quarter valued at about $72,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Up 0.4 %

NYSE:MCD opened at $280.90 on Friday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The firm has a market capitalization of $201.30 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 3.67 and a beta of 0.73. The stock’s 50 day moving average price is $292.90 and its two-hundred day moving average price is $286.75.

McDonald’s (NYSE:MCD) last issued its 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. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the company earned $3.19 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts anticipate that McDonald’s Co. will post 11.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Evercore ISI lifted their target price on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, Barclays lifted their price objective on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $321.39.

Insider Activity

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,704 shares of company stock valued at $2,829,428. 0.23% of the stock is owned by company insiders.

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.