First City Capital Management Inc. Sells 49 Shares of McDonald’s Co. (NYSE:MCD)

First City Capital Management Inc. cut its stake in McDonald’s Co. (NYSE:MCD) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,606 shares of the fast-food giant’s stock after selling 49 shares during the quarter. First City Capital Management Inc.’s holdings in McDonald’s were worth $755,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s during the third quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in McDonald’s in the 3rd quarter worth approximately $31,000. Hara Capital LLC purchased a new position in shares of McDonald’s in the third quarter valued at $44,000. Peterson Financial Group Inc. purchased a new stake in shares of McDonald’s in the third quarter worth about $58,000. Finally, FSA Wealth Management LLC bought a new position in McDonald’s in the 3rd quarter worth about $72,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This trade represents a 9.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. The trade was a 44.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,551 shares of company stock valued at $3,120,554 over the last ninety days. 0.23% of the stock is owned by company insiders.

McDonald’s Trading Up 0.6 %

Shares of MCD stock traded up $1.65 during trading hours on Friday, reaching $294.16. 1,028,214 shares of the stock were exchanged, compared to its average volume of 2,057,491. The company’s 50-day moving average price is $294.57 and its 200-day moving average price is $284.66. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm has a market capitalization of $210.80 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73.

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 analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that McDonald’s Co. will post 11.75 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCD. Barclays boosted their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. Loop Capital reissued a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research report on Friday. KeyCorp boosted their target price on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, UBS Group raised their price target on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $320.65.

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.