Exchange Traded Concepts LLC Buys 7,275 Shares of McDonald’s Co. (NYSE:MCD)

Exchange Traded Concepts LLC lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 289.5% during the 4th quarter, HoldingsChannel reports. The firm owned 9,788 shares of the fast-food giant’s stock after acquiring an additional 7,275 shares during the period. Exchange Traded Concepts LLC’s holdings in McDonald’s were worth $2,837,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MCD. Beaird Harris Wealth Management LLC increased its holdings in McDonald’s by 9.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 626 shares of the fast-food giant’s stock worth $159,000 after purchasing an additional 56 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of McDonald’s by 85.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 90,831 shares of the fast-food giant’s stock valued at $23,147,000 after buying an additional 41,729 shares during the period. Peloton Wealth Strategists raised its holdings in McDonald’s by 2.5% in the 2nd quarter. Peloton Wealth Strategists now owns 5,768 shares of the fast-food giant’s stock valued at $1,470,000 after buying an additional 143 shares during the last quarter. Alethea Capital Management LLC acquired a new stake in McDonald’s during the 2nd quarter worth approximately $466,000. Finally, Goodman Advisory Group LLC bought a new stake in McDonald’s during the 2nd quarter worth approximately $1,575,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’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 owns 9,675 shares in the company, valued at approximately $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the transaction, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,905 shares of company stock valued at $2,592,327 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

MCD opened at $285.37 on Friday. The firm has a market capitalization of $204.50 billion, a PE ratio of 25.05, a P/E/G ratio of 3.66 and a beta of 0.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company’s 50-day moving average is $291.07 and its 200 day moving average is $288.14.

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, topping the consensus estimate 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 business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that McDonald’s Co. will post 11.72 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. KeyCorp decreased their price target on McDonald’s from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday. Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their target price on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $320.78.

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.