Essex Savings Bank Grows Holdings in McDonald’s Co. (NYSE:MCD)

Essex Savings Bank raised its position in McDonald’s Co. (NYSE:MCD) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,330 shares of the fast-food giant’s stock after purchasing an additional 49 shares during the period. Essex Savings Bank’s holdings in McDonald’s were worth $2,125,000 as of its most recent SEC filing.

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

McDonald’s Price Performance

Shares of McDonald’s stock opened at $282.54 on Thursday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company has a market capitalization of $202.47 billion, a P/E ratio of 24.81, a PEG ratio of 3.67 and a beta of 0.73. The business’s fifty day moving average price is $293.43 and its two-hundred day moving average price is $286.83.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.19 earnings per share. On average, research analysts expect that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the sale, the executive vice president now directly 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. In the last three months, insiders sold 9,704 shares of company stock valued at $2,829,428. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Truist Financial lowered their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average target price 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.