Concord Asset Management LLC VA Sells 613 Shares of McDonald’s Co. (NYSE:MCD)

Concord Asset Management LLC VA reduced its position in McDonald’s Co. (NYSE:MCD) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,876 shares of the fast-food giant’s stock after selling 613 shares during the quarter. Concord Asset Management LLC VA’s holdings in McDonald’s were worth $2,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in McDonald’s by 1.4% during the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after purchasing an additional 220,365 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of McDonald’s by 0.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after buying an additional 128,800 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in McDonald’s by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after buying an additional 49,106 shares during the period. Janus Henderson Group PLC grew its stake in McDonald’s by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock valued at $841,966,000 after buying an additional 19,867 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in 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 acquiring an additional 2,311,721 shares during the period. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MCD shares. Barclays raised their target price on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Bank of America raised their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial decreased their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Citigroup lifted their price objective on McDonald’s from $334.00 to $336.00 and gave the company a “buy” rating in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $320.87.

McDonald’s Stock Down 0.5 %

NYSE:MCD opened at $288.83 on Friday. The firm’s fifty day simple moving average is $291.12 and its 200 day simple moving average is $289.51. The stock has a market cap of $206.98 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The company 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 in the previous year, the company earned $3.19 earnings per share. On average, analysts expect that McDonald’s Co. will post 11.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’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 sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’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 of the company’s stock, valued at $2,716,155. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,406 shares of company stock worth $2,150,857. Company insiders own 0.23% of the company’s stock.

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.