Verity Asset Management Inc. Trims Stock Holdings in McDonald’s Co. (NYSE:MCD)

Verity Asset Management Inc. cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 45.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,557 shares of the fast-food giant’s stock after selling 2,091 shares during the period. Verity Asset Management Inc.’s holdings in McDonald’s were worth $733,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MCD. Geode Capital Management LLC grew its position in McDonald’s by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock worth $4,833,510,000 after purchasing an additional 220,365 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of McDonald’s by 0.9% during the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock worth $4,592,892,000 after buying an additional 128,800 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of McDonald’s by 0.9% during the third 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 last quarter. Janus Henderson Group PLC increased its position 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 acquiring an additional 19,867 shares during the period. Finally, International Assets Investment Management LLC raised its stake 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 last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the sale, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,406 shares of company stock valued at $2,150,857 over the last quarter. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $290.25 on Tuesday. The business’s fifty day moving average price is $291.12 and its two-hundred day moving average price is $289.94. The stock has a market cap of $208.00 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 3.83 and a beta of 0.74. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. KeyCorp dropped their target price on McDonald’s from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. TD Cowen reissued a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Bank of America raised their target price on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price objective on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.